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. These controls can include things like segregation of duties, authorization requirements, and regular audits. Effective internal controls also promote operational efficiency and compliance with laws and regulations. By monitoring and evaluating their processes, organizations can identify areas for improvement and reduce risks. This ultimately helps maintain the trust of stakeholders, including investors, employees, and customers.