Internal controls are processes and procedures implemented by an organization to ensure the integrity of financial and accounting information. They help prevent errors, fraud, and mismanagement by establishing checks and balances within the system. Common internal controls include segregation of duties, reconciliation of accounts, and authorization of transactions. These controls also promote operational efficiency and compliance with laws and regulations. By regularly monitoring and evaluating these processes, organizations can identify weaknesses and improve their overall risk management. Effective internal controls contribute to the reliability of financial reporting and enhance stakeholder confidence in the organization.