Distinction between Internal Check and internal audit
|SN||Internal Check||SN||Internal Audit|
|1||Internal check is not a specific check, but the duties of different persons are so arranged that a person‟s work is automatically checked by another person while carrying out the normal
|1||Internal audit is specifically done to check that the accounts are properly maintained and the systems are in control.|
|2||Internal check does the preventive job
i.e. internal check is derived so that frauds and errors are prevented.
|2||Internal audit does the detective job of identifying frauds and errors and
|3||It is more of process in a day to day
functioning of the business.
|3||It is specific defined job.|
|4||All the persons in the organization are involved to maintain the internal
|4||Specific persons are appointed to the internal audit.|
|5||It is required in all organization in formal or informal.||5||Carrying out internal audit is not
compulsory. It is done based on management decision.
|6||It does not include internal audit.||6||It include internal check.|