What Is a Key Control

A key control is an action your department takes to detect errors or fraud in its financial statements. Your department should already have key financial review and follow-up activities in place. To fulfill documentation requirements, departments should review those activities and identify key controls.

What does key control mean?

A key control is an action your department takes to detect errors or fraud in its financial statements. Your department should already have key financial review and follow-up activities in place. To fulfill documentation requirements, departments should review those activities and identify key controls.

What are key and non key controls?

Internal controls are divided into key and non-key controls. Key controls are the primary procedures relied upon to mitigate a risk or prevent fraud. Non-key controls are considered secondary or back up controls.