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Ipcc auditing

Srikanth D (Occupied.) (168 Points)

12 November 2012

What is the difference between Internal Control Questionnaire and Internal Control Checklist?

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3 Replies

sidhant saha (prop) (1394 Points)
Replied 12 November 2012

check list involves a series of questions with 3 columns yes,no and not applicable which a member of auditing staff fills up by inquiring departmental managers and questionnaire is just like a check list with reasons

Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 12 November 2012

Check list refers to the points which you are requried to look into to verify if the IC is operating or not. For e.g the checklist may contain the itmes to be checked such as FA, cash, inventories,investments etc..

An IC Questionnaire contains a series of questions with Yes, No & N/A. The answers in the affirmative as per the quest is marked as Yes, if a particular step is not being performed then it shud be marked as No & if the step is N/S to the process then it shud be marked as N/A.