can anyone explain me IFC as well as sharing views on Inc?
This query is : Resolved
23 May 2016
Please share the check list and concept of IFC.
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24 May 2016
You may refer to ICAI's Guidance Note on IFC to understand the concept and explanations there by.
25 May 2016
The concept of IFC is explained in the Guidance Notes issued by ICAI. In a nutshell IFC is the policies and procedures adopted by company to ensure orderly and efficient conduct of business. It includes safeguarding the assets of company, adherence to policies and procedures and prevention & detection of fraud & errors. An illustrative checklist is also provided with the Guidance notes.
25 May 2016
Mr. Kapil : You may refer my detailed article titled "All about Controls" for your reference :- https://www.caclubindia.com/articles/all-about-controls-26928.asp
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