20 March 2008
Scope of Internal Audit is becoming wide day by day, financial audit does not incude some cost related areas which scope of internal audit includes and there are many such areas where financial audit is not done but they are taken ni to consideration at the time of doing internal audit.
26 March 2008
internal audit is a audit of accounts or document or system (depends on scope of appointment) by a professional qualified person to check the accuracy of the same.
while internal control is a system through which an organisation keeps control on its transaction.
it means internal control is a system by which one can control its transaction while internal audit is checking of the transaction happened in organisation after internal control system. we can say in internal audit checking of the internal control system is also made.
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