Internal Financial Control

I am aware that financial controls focus on key transaction areas, with the emphasis being on the safeguarding of assets and the maintenance of proper accounting records that all have been processed from initiation to completion.

However I cannot answer the questions of the study guide with only this information which is available in the BPP book. Can you help me answer these 3 questions from the study guide effectively. Thanks justin_facciol@yahoo.com

2. Explain the importance of internal financial controls in an organisation.

3. Describe the responsibilities of management for internal financial control.
I do not know the answer.

4. Describe the features of effective internal financial control procedures in an organisation, including authorisation.