Daily Point 2074 - Checks and Balances

 

The Banking Tutor

Daily Point 2074

Checks and Balances 

Checks and balances are rules and procedures to reduce mistakes, prevent improper behaviour, or decrease the risk of centralization in an organization. Checks and balances prevent any one person or department from having absolute control over decisions and force cooperation in completing tasks. The term is most commonly used in the context of government but also refers to limiting power in businesses and organizations.

Sekhar Pariti

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