Can Anyone Explain Different Objectives Of Internal Control Check?

The purpose of internal check is to prevent frauds. The management can achieve this objective through distribution of duties. One employee is allowed to perform one part of the task. The other parts are completed by other. In this way he work is completed by many hands. The purpose of internal check is to protect the assets.

The management can take steps to safe guard the resources. The records are maintained by one person. The custody is given to another officer. The purchase and disposal is made by top level management. The assets are used for business purpose. The periodical inspection is necessary to avoid misuse of resources.

The purpose of internal check is to prevent errors. The management can devise such a system of internal check that mistakes are prevented altogether. If there is negligence on the part of one employee, it is pointed out by another employee who can check the work of first person. The purpose of internal check is to fix the responsibility of employees. The division of duties helps the management to locate the inefficient employees. The pending work provides chances of errors and frauds. The management can replace employees who are negligence of their duties.