control

The exercising of influence, regulation, or restriction over an activity, process, or individual. In an auditing context, control is often understood to be an action or practice that assists an organization to achieve its objectives, though this definition is probably cast too widely - it would include making a sale or securing the employment of a promising candidate. A narrower definition of control is a procedural or physical mechanism to address a *risk or to enhance the *economy *efficiency, or *effectiveness of operations. A control may or may not be *embedded in an organization’s day-to-day operations. Organizational control is often analyzed into separate *external and *internal control components: *External control is exercised by *stakeholders, and *internal control is effected by *boards of directors, managers, and employees.