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Auditing - Internal Check | 12th Auditing : Chapter 1 : Internal Check

Chapter: 12th Auditing : Chapter 1 : Internal Check

Internal Check

In a business concerns there are chances of misapporopriation and manipulation of accounts.

Introduction

In a business concerns there are chances of misapporopriation and manipulation of accounts. In order to overcome such irregularities and to prevent or minimise the occurrence of errors and frauds, a checking system is designed to have a check on the irregularities. Such a check which operates continuously as part of the routine system is called as Internal Check. This chapter highlights the principles of good internal check system and explains in detail the procedure of internal check with regards to cash and trading transactions.


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