can anyone explain me IFC as well as sharing views on Inc?
This query is : Resolved
kapil pingolia
(Querist)
23 May 2016
Please share the check list and concept of IFC.
Message likes :
1 times
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
