Internal Financial Controls (IFC) framework is an integral part of a company's overall internal financial controls program. Internal financial control refers to the policies and procedures adopted by the company for ensuring:
1. Orderly and efficient conduct of its business
2. Including adherence to company’s policies
3. Safeguarding of its assets
4. Prevention and detection of frauds and errors
5. Accuracy and completeness of the accounting records
6. Timely preparation of reliable financial information

Internal control is a process, effected by an entity's board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance.

Internal Financial Control is not solely a policy or procedure that is performed at a certain point in time, but rather a continuous process operating at all levels within the Company.