What are policies and procedures established to achieve specific objectives called?

Policies and procedures established to achieve specific objectives are referred to as Control Procedures. These controls are essential components of an organization’s internal control system, designed to ensure that the organization accomplishes its goals effectively and efficiently. They provide a framework for decision-making and help mitigate risks by guiding daily operations.

Control Procedures are vital for ensuring adherence to laws, regulations, and internal policies. They can include a variety of processes such as authorization procedures for transactions, segregation of duties, training programs, and performance reviews. By systematically implementing these controls, organizations can enhance their operational effectiveness and safeguard their assets.

Other options present different aspects of control but do not specifically focus on the structured methods to achieve objectives. For instance, Control Accounting is more about the financial management and reporting aspect, Control Auditing pertains to the evaluation of internal controls, and Control Environment refers to the overall tone and culture of an organization regarding its control consciousness. These concepts all contribute to the broader understanding of internal controls, but Control Procedures are specifically focused on the methods employed to achieve defined objectives.