Explain how an Internal Control Evaluation Questionnaire (ICEQ) differs from an Internal Control Questionnaire (ICQ)

Auditing and Assurance Revision Questions and Answers

The main difference is that an internal control questionnaire (ICQ) is used to determine whether controls exist which meet specific control objectives whereas an internal control evaluation questionnaire (ICEQ) is used to establish whether specific errors or frauds could occur rather than establishing whether certain desirable controls are present. Only few key control questions are used concentrating on the significant errors or omissions that could occur at each phase of a transaction cycle.



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