Internal check & control
- 1. Internal Check and Control Presented by Md. Fariduddin Ahmed Advisor Export Import Bank of Bangladesh Limited Former Managing Director & Chief Executive Officer Islami Bank Bangladesh Limited Export Import Bank of Bangladesh Limited
- 2. Prepared by Forkan Uddin Mahmood 2 The work of a one employee is automatically checked by another employee to minimize the possibility of fraud or error or inequality unless there is a collusion between the employees. It is a kind of division of labor. Job rotation Internal Check or Control
- 3. Prepared by Forkan Uddin Mahmood 3 To prevent the commission of any error of fraud by any employee. To prevent the misappropriation of cash or goods by any employee by keeping a check on the receipts and payments of cash and receipts and delivery of the goods. To throw responsibility on a particular employee when the fraud or mistake is detected. To detect a fraud or an error quickly and easily. To have an accurate record of all business transactions. Internal Check or Control
- 4. Prepared by Forkan Uddin Mahmood 4 Independent appraisal of activity within an organization for the review of accounting, financial and other business practices as a protective and constructive arm of management. Internal Check or Control
- 5. Prepared by Forkan Uddin Mahmood 5 To achieve the said objective, the following five areas of operations should be reviewed by an internal auditor: Reliability and integrity of information. Compliance with polices, plans, procedures, law and regulations. Safeguarding of assets. Economical and efficient use of resources. Accomplishment of established objectives and goals for operations or programs. Internal Check or Control
- 6. Prepared by Forkan Uddin Mahmood 6 To select and examine a representative sample from a large number of similar items. Internal Check or Control