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Internal check

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internal check

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Internal check

  1. 1. INTERNAL CHECK PRESENTED BY :- SUSHMA PARAB 231 ALEENA PEREIRA 232 SNEHA PILLAI 233
  2. 2. DEFINATION:-• INSTITUTE OF CHARTERED ACCOUNTANT OF ENGLAND & WALES• GUIDANCE NOTES OF ICAI
  3. 3. OBJECTIVES• ERROR & FRAUD• MISAPPROPRIATION• DUTIES & RESPONSIBILITIES• ACCURATE RECORDING• REDUCED WORK LOAD
  4. 4. ADVANTAGES• DIVISION OF WORK• DETECTION OF ERRORS• MINIMIZATION OF ERRORS• MORAL INFLUENCE• EFFICIENCY & ECONOMY• PROFITABILITY• FINAL ACCOUNTS• CONVINCE
  5. 5. DISADVANTAGES• QUALITY OF WORK• COMPLACENCY OF MANAGEMENT• EXPENSIVE• CONFUSION• CHANCE OF COLLUSION
  6. 6. AUDITOR’S DUTIES• ESTABLISHMENT OF INTERNAL CHECK SYSTEM• RELIABILITY ON THE SYSTEM OF INTERNAL CHECK• EVALUATION
  7. 7. CASE STUDY

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