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Difference Between Internal Check and Internal Control

June 1, 2017 Posted by Dili

Difference Between Internal Check and Internal Control

Key Difference – Internal Check vs Internal Control   Internal check and internal control are two frequently used terms in risk management which are often used interchangeably. However, subtle differences exist between the two since internal control is a broader concept compared to internal check.  The key difference between internal check and internal control is […]

Filed Under: Risk Management Tagged With: Compare Internal Check and Internal Control, Internal Check, Internal Check and Internal Control Differences, Internal Check Definition, Internal Check Features, Internal Check vs Internal Control, Internal Control, Internal Control Definition, Internal Control Features

Difference Between Materiality and Performance Materiality

May 26, 2017 Posted by Dili

Difference Between Materiality and Performance Materiality

Key Difference – Materiality vs Performance Materiality   According to Audit & Assurance Services Policy (AASP), the concept of materiality is applied by the auditor when planning and performing the audit since the auditor has to provide an opinion on whether the financial statements are materially correct. The key difference between materiality and performance materiality […]

Filed Under: Risk Management Tagged With: Compare Materiality and Performance Materiality, Materiality, Materiality and Performance Materiality Differences, Materiality Definition, Materiality Features, Materiality vs Performance Materiality, Performance Materiality, Performance Materiality Definition, Performance Materiality Features

Difference Between Financial Audit and Management Audit

May 25, 2017 Posted by Dili

Difference Between Financial Audit and Management Audit

Key Difference – Financial Audit vs Management Audit   Financial audit and management audit are two important types of audits. While management audit is conducted according to specific requirements, financial audit is conducted on an annual basis. The key difference between financial audit and management audit is that financial audit is an audit conducted to […]

Filed Under: Risk Management Tagged With: Compare Financial Audit and Management Audit, Financial audit, Financial Audit and Management Audit Differences, Financial Audit Definition, Financial Audit Features, Financial Audit vs Management Audit, Management Audit, Management Audit Definition, Management Audit Features

Difference Between Internal Audit and Internal Control

May 24, 2017 Posted by Dili

Difference Between Internal Audit and Internal Control

Key Difference – Internal Audit vs Internal Control   Internal audit and internal control are two main aspects of any type of organization. In general, these two terms are often confused and used interchangeably; nevertheless, they are different from each other. The key difference between internal audit and internal control is that internal audit is […]

Filed Under: Risk Management Tagged With: Compare Internal Audit and Internal Control, Internal audit, Internal Audit and Internal Control Differences, Internal Audit Definition, Internal Audit Features, Internal Audit vs Internal Control, Internal Control, Internal Control Definition, Internal Control Features

Difference Between Internal and External Audit

May 23, 2017 Posted by Dili

Difference Between Internal and External Audit

Key Difference – Internal vs External Audit   The audit process is one of the essential aspects of an organization for its long-term survival and success. An audit committee is appointed by the board of directors to review the effectiveness of audit process of the company. Internal audit and external audit are the two main […]

Filed Under: Risk Management Tagged With: Compare Internal and External Audit, External audit, External Audit Definition, External Audit Features, Internal and External Audit Differences, Internal audit, Internal Audit Definition, Internal Audit Features, Internal vs External Audit

Difference Between Audit Risk and Business Risk

May 21, 2017 Posted by Dili

Difference Between Audit Risk and Business Risk

Key Difference – Audit Risk vs Business Risk   Business actions are subjected to various risks that can reduce the positive effects they can bring to the organization. Audit risk and business risk are two main types of risks that should be controlled and continuously monitored. The key difference between audit risk and business risk […]

Filed Under: Risk Management Tagged With: Audit Risk, Audit Risk and Business Risk Differences, Audit Risk Definition, Audit Risk Features, Audit Risk vs Business Risk, business risk, business risk definition, Business Risk Features, Compare Audit Risk and Business Risk, financial risk, Operational Risk, Reputation Risk, Strategic Risk, Types of Business Risks

Difference Between Inherent Risk and Control Risk

May 17, 2017 Posted by Dili

Difference Between Inherent Risk and Control Risk

Key Difference – Inherent Risk vs Control Risk   Inherent risk and control risk are two important terminologies in risk management. Business actions are subjected to various risks by nature that can reduce the positive effects they can bring to the organization. The key difference between inherent risk and control risk is that inherent risk […]

Filed Under: Risk Management Tagged With: Compare Inherent Risk and Control Risk, Control Risk, Control Risk Definition, Control Risk Features, Gross Risk, Inherent Risk, Inherent Risk and Control Risk Differences, Inherent Risk Definition, Inherent Risk Features, Inherent Risk vs Control Risk, net risk, residual risk

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