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Internal check can be defined as the checks on day to day transactions which is a part of routine system where by the work of one person is proved or complementary work to another. The object being the prevention or earlier detection of error or fraud

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Diferentiate between internal check and internal audit?

Difference between internal check and internal audit.Following are the main differences between internal check system and internal audit system:1. Way of checking â€" In internal check system work is automatically checked whereas in internal audit system work is checked specially.2. Cost involvement â€" in internal check system checking is done when the work is being done. Mistake can be checked at an early stage in internal check system.3. Thrust of system â€" Thrust of internal check system is to prevent the errors and whereas the thrust of internal audit system is to detect the errors and frauds.4. Time of checking â€" In internal check system checking is done when the work is being done whereas in internal audit system work is checked after it is done. Mistakes can be checked at an early stage in internal check system.


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