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What are the differences between internal control and internal check?

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Question ajoutée par uduak bassey
Date de publication: 2016/04/07
Frank Mwansa
par Frank Mwansa , ACCOUNTING LECTURER , FREELANCER

Thanks for invitation

internal control is the plan of organisation and all the methods and procedures adopted by management of an entity to assist in achieving management objectives of ensuring, as far as practicable,the orderly and its business, including adherence to management policies, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records and the timely preparation of reliable financial information.

Internal check is the checks on the day to day transactions which operate continuously as part of the routine system of the organisation. The main purpose is is the prevention or detection of errors early.

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