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Fundamentals of Auditing by S. K. Basu

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Chapter 4

Internal Control, Internal Check and Internal Audit

4.1 INTRODUCTION

Before the auditor can determine his basic approach to an audit, he must ensure that he fully understands the organisation with which he is dealing. He must familiarise himself with its organisational structure and comprehend the nature of the business. He must also ensure that he has fully grasped all the technicalities peculiar to the business. Only then he will be in a position fully to comprehend and identify the transactions, which are being recorded in the accounting books and in relation to which the internal controls will be operating.

Formerly, business systems were usually installed with the object of getting work done by the cheapest and quickest methods ...

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