1) Internal check and control involves having one employee's work checked by another to minimize fraud and error, creating a system of checks and balances. 2) The goals of internal check and control are to prevent errors, fraud, theft, and to assign responsibility when issues arise. 3) An internal check reviews accounting, financial, and business practices as a protective measure to ensure reliability, compliance, protection of assets, efficient use of resources, and accomplishment of objectives.

1. Internal Check and
Control
Presented by
Md. Fariduddin Ahmed
Advisor
Export Import Bank of Bangladesh Limited
Former
Managing Director & Chief Executive Officer
Islami Bank Bangladesh Limited
Export Import Bank of Bangladesh Limited

2. Prepared by Forkan Uddin Mahmood 2
 The work of a one employee is
automatically checked by another employee
to minimize the possibility of fraud or error
or inequality unless there is a collusion
between the employees.
 It is a kind of division of labor.
 Job rotation
Internal Check or Control

3. Prepared by Forkan Uddin Mahmood 3
 To prevent the commission of any error of fraud by
any employee.
 To prevent the misappropriation of cash or goods by
any employee by keeping a check on the receipts and
payments of cash and receipts and delivery of the
goods.
 To throw responsibility on a particular employee
when the fraud or mistake is detected.
 To detect a fraud or an error quickly and easily.
 To have an accurate record of all business
transactions.
Internal Check or Control

4. Prepared by Forkan Uddin Mahmood 4
Independent appraisal of activity within an
organization for the review of accounting,
financial and other business practices as a
protective and constructive arm of
management.
Internal Check or Control

5. Prepared by Forkan Uddin Mahmood 5
To achieve the said objective, the following five areas
of operations should be reviewed by an internal
auditor:
Reliability and integrity of information.
Compliance with polices, plans, procedures, law and
regulations.
Safeguarding of assets.
Economical and efficient use of resources.
Accomplishment of established objectives and goals
for operations or programs.
Internal Check or Control

6. Prepared by Forkan Uddin Mahmood 6
To select and examine a representative
sample from a large number of similar
items.
Internal Check or Control