Control Systems And internal Control theory and Application in Joint Stock Companies In Palestine

This study has been conducted to explore the extent of awareness & application of internal control (IC ) in Palestinian corporations. since it is considered an important element in administrative and financial systems . To accomplish that, the literature of auditing was reviewed. For this purpose two questionnaires was designed to collect data , The Sample: out of 40 public corporate registered in the country . 27 of them (67.5%) responded, out of the 52 privet corporate suitable for the sample .32 of them (61.5%) responded. Also External auditors sector has been included in this sample study , out of 110 External Auditors practicing in the West Bank , 30 of them ( 27.27% ) responded . By using appropriate statistical method (weighted average SPSS) , the major findings were as follows: - Low awareness& applications of Internal Control - Lack of independence of internal auditors. - Adverse relationship between capital concentration & Internal Control. - Significant lack of quality experience among the External Auditors. Recommendations: 1. The necessity of internal lows & controls to assure segregation of duties and clear lines of responsibilities. 2. The necessity of special qualifications, experience & independence of Internal auditors. 3. The necessity of certain and clear legislation's in order to help in developing the profession. 4. The necessity to develop external auditors abilities through extensive annual training.