Which factor does NOT contribute to the effectiveness of financial control procedures?

The effectiveness of financial control procedures relies heavily on the active engagement and utilization of management reports. Ignoring these reports fundamentally undermines the process, as they provide crucial insights into financial performance, variances from budgets, and trending issues that require attention.

In contrast, regular audits play a vital role by ensuring compliance, enhancing accuracy, and identifying areas for improvement within financial practices. Systematic tracking of assets is essential for financial integrity, as it helps in monitoring resources and managing budgets effectively. Timely financial adjustments are crucial for responding to changing conditions and maintaining control over financial outcomes. Together, these elements foster a comprehensive control environment, whereas neglecting management reports hinders the ability to measure and act upon financial data effectively.