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<br /> <br />Internal Controls <br /> <br />. It is the duty of government financial managers <br />to be good stewards of the resources <br />committed to their care. Good stewardship <br />requires that assets be properly: <br />- Safeguarded <br />- Managed <br />- Accounted for <br />. The purpose of internal controls is to meet <br />these requirements <br /> <br /> <br />Internal Control Structure <br /> <br />. Control environment <br />- Accounting systems and control procedures must <br />be seen as essential by employees <br />. Accounting system <br />- Must be properly designed and maintained to meet <br />the government's information needs <br />. Control policies and procedures <br />- Must be in place to ensure the integrity of data and <br />to ensure that assets are protected <br /> <br /> <br />Policies and Procedures <br /> <br />. All transactions should be properly authorized <br />. incompatible duties should be segregated <br />. Accounting records and documentation should <br />be properly designed and maintained <br />. Access to both assets and records is controlled <br />. Accounting data are compared with underlying <br />items they represent periodically <br /> <br /> <br />16 <br />