Internal Finance Control (IFC) and Financial Reporting Audit Services Overview
Internal financial control (IFC) is a much wider concept than internal control over financial reporting (ICFR). ICFR audit is an audit where we examine the financial statements of the business and share it with its user’s i.e. employee’s, stockholder’s, shareholder’s, government, competitors, customers, lenders, investors etc. whereas IFC audit is an audit where we examine the functions & management of the business and share the final result with the company.
ICFR audit covers all the elements of financial reporting which includes Profit & loss account, balance sheet etc. whereas internal finance control (IFC) examine the controls which ensures efficiency in business functions, compliance of policies, maintenance of records and safeguarding of assets. IFC is applicable on listed companies, unlisted companies, small companies and one person companies.
There are different processes in internal finance control over financial reporting. Some of them are –
Finacbooks help businesses by providing both services i.e. internal finance control audit as well as financial reporting audit. We provide both the audit services as per client requirement.
What Is Included In Our Package?
Our Business Financial Services
- Internal finance control audit
- Financial reporting audit
Benefits of Internal Finance Control (IFC) and Financial Reporting Audit Services
How Finacbooks Can Help?
Finacbooks is one of the leading Indian firms with more than 10 years of experience in helping public limited or private limited companies with internal finance control audit and financial reporting audit. To avail the best deals on these audit services, kindly call us at 8800221252 or you can also e-mail us at firstname.lastname@example.org