internal controls
Defined in 1 dictionary — U.S. Code
United States Code
31 U.S.C. § 7501 — as used in this chapter (4 versions over time)
"internal controls" means a process, effected by an entity's management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories:
(A) Effectiveness and efficiency of operations.1
(B) Reliability of financial reporting.1
(C) Compliance with applicable laws and regulations;
34 U.S.C. § 11103 — for purposes of this chapter
the term "internal controls" means a process implemented to provide reasonable assurance regarding the achievement of objectives in—
(A) effectiveness and efficiency of operations, such as grant management practices;
(B) reliability of reporting for internal and external use; and
(C) compliance with applicable laws and regulations, as well as recommendations of the Office of Inspector General and the Government Accountability Office; and