What is a primary goal of internal controls?

A primary goal of internal controls is to ensure the organization achieves its goals. Internal controls are systems and processes designed to safeguard assets, ensure accurate financial reporting, and promote compliance with laws and regulations. By establishing these controls, an organization can effectively manage risks, enhance operational efficiency, and achieve strategic objectives.

While maximizing profits is a desirable outcome for many organizations, it is not the primary focus of internal controls, which are more about reliability, efficiency, and compliance. Similarly, minimizing employee turnover and limiting information technology costs are specific concerns that do not broadly encapsulate the essence of internal controls. Internal controls serve a foundational role in supporting the overall objectives of the organization, making the attainment of these goals their central aim.