Accounting and Financial Reporting

Nurturing Relationships and Modernizing Internal Controls

We all have different relationships in our lives—friends, family, work colleagues, and so on. How well they turn out often depends on how much we put into them. Whatever kind of relationship you have, nurturing it helps keep it strong. When we don’t put much effort into our relationships, it’s often because we think that if nothing bad has happened so far, everything must be okay. But that’s far from accurate. For example, if you don’t pay enough attention to your spouse, they might not say anything—until they tell you they’re leaving. An organization’s relationship with its internal control environment is just that—a relationship—and the effort you put into it makes a difference.

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