Paper on Financial Monitoring and Control

Financial monitoring and control is an activity that must be carried out to protect monies and assets of project of organizations. This is done by developing effective financial monitoring and control system. Financial monitoring and control system is developed and adopted to safeguard organizations funds. According to Nikolai et al (2009), efficient monitoring and control of cash ensure that there is adequate cash to undertake important activities in organizations. Cash control systems need internal control measures that are adequate and effective, which must comply with laws and regulations of any given jurisdiction where the business or project is carried out. Kutz (2003) asserts that error and lack of control over organizations assets and cash lead to business or project failure.