Distinguish between internal audit and internal check ...

      

Distinguish between internal audit and internal check

  

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johnson
Internal check is an element of the internal controls system where the activities of an individual in the organization/entity is automatically checked by another. This is facilitated by segregation of duties where by the various activities in transaction processing are carried out by independent persons. For example in the purchase of raw materials the person paying the supplier?s invoices counterchecks to ensure that the amount billed by the supplier agrees with the cost of the purchase as per the authorised purchase order. This independent check is an example of internal check.
On the other hand internal audit Internal audits is an appraisal or monitoring activity established by management for the review of accounting and Internal Control System as a service to the entity. It examines, evaluates and reports to management on the adequacy and effectiveness of the systems.
johnson mwenjera answered the question on March 22, 2018 at 17:18


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