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Types of Control for your Real Estate Agency – Preventive | Detective
May 20
Types of Control for your Real Estate Agency – Preventive | Detective
By: Admin
Internal controls generally fall into one of two categories: preventative or detective. Preventative controls are measures to put in place to avoid any mistakes of fraud from happening. This could be achieved with segregation of duties within the agency. Detective controls include reconciling the trust bank accounts. Typically, these internal controls are performed consistently to see if any need to be corrected. They will often turn up internal errors or problems, as well as any external errors (such as bank errors).

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