What is the difference in
a) Internal Check
b) Internal Control
c)Varification of Assets

Question

Khaled Mohee Eldeen Abbas Mahmoud · Answer

internal check: A division of duties that does not permit one individual to carry out all stages of a transaction. An internal check is intended to prevent fraud and minimize errors.

internal control: Systematicmeasures (such as reviews, checks and balances, methods and procedures) instituted by an organization to (1) conduct its business in an orderly and efficient manner, (2) safeguard its assets and resources, (3) deter and detect errors, fraud, and theft, (4) ensure accuracy and completeness of its accountingdata, (5) produce reliable and timely financial and managementinformation, and (6) ensure adherence to its policies and plans.

verification of assets: Process conducted by auditors to confirm that a company's assets actually exist.

مستخدم محذوف‎ · Answer

agreed with mr georgei

i didin't as well

Srinivasa Rao Tripuramallu · Answer

Internal check pertaining to finance & material part before payment or ownership. Internal control starts after ownership.

georgei assi · Answer

I did not understand the question

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN · Answer

A very good explanation provided by Mr. Khalid Mohy Eldin. I support the answer.

Malik Khalid Mahmood · Answer

Well Done by mr. khalid

FITAH MOHAMED · Answer

AGREE WITH MR KHALD ANSWER

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What is the difference in a) Internal Check b) Internal Control c)Varification of Assets

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