Difference in IFC, ICFR and Internal Controls

In this video we have talked about the difference in between Internal financial controls (IFC), Internal controls over financial reporting (ICFR) and Internal Controls. This is the most confusing question in the mind of the chartered accountants and CA students
Let just find out the answers in the video
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[@catusharmakkar]

Website for Practical courses. www.catusharmakkar.com/ Use code : NEW10 for 10% discount

[@carajatagrawal]

ICFR= (Financial Controls over FR only) IFC= (Financial+Operational+Security Control over FR only) IC= (Fin.Control+Oper.Control+Security over FR and Other Operations as well)

[@esperer01]

Doing IFC and ICoFR since last more than 3 years, got to know difference today. thank you..

[@JatinKumar-zw4up]

Interviewer : Do you have any questions for us? Me : What is the difference in between IFC icfr and internal control 😂

[@DiabloNemes]

Khelo dimaag se !!

[@kanhaiyasoni5509]

Mr Tushar I appreciate your efforts, but if you use screen share to make understand, it would be more helpful for all learners.

[@91harshjain]

Nobody has even touched even IFC v IC but you have nailed it. Thank you so much.

[@akashbiradar2712]

ICOFR is related to amounts which are reflected in FS. Operational control are not related to amounts but the related to approvals or actions. IFC is wider then ICOFR which includes ICOFR, operational controls, frauds controls, compliance controls, asset safeguarding controls

[@saloniwadke]

Hello i think you gave a very apt explanation i just have a lil query so if you think you can give me the time of the day to reply to this comment coz i have my CA Intermediate audit exam on 15th May. Query: IFC is managements responsibility as per sec 134(5) ICFR is auditor’s duty to report on it as per sec 143(3)(i) IS THIS CORRECT?

[@catusharmakkar]

Right

[@sakshisheth6811]

This is such a simple and apt explanation sir. Thank you!

[@saravana6387]

Please add subtitles 🥲🥲

[@Ganpatibappa_morya]

Sir please help...urgently... Why caro and IFC are applicable to representative office of foreign bank in india.

[@geek7227]

ICFR audit will be done by statutory auditors and IFC/Internal Control Audit will be done by Internal Auditors?

[@raavijain7940]

IFC by management

[@poojithajampa1480]

couldn't ask for more!

[@Ancita_O_Dsouza]

Crystal clear 😊

[@RJDAD6148]

I don't know this language, plz update subtitles.

[@aliahsan5673]

Very Informative......Keep it up🥰

[@Champingcom]

Thanks

[@anupmapandey2082]

Thank you sir well explained

[@tushardhingra29]

Thankyou bhya clarity

[@abhishek4512]

thanks sir......u should enter teaching industry...:):)

[@vishishiv2186]

Bro could you add subtitle pls

[@saij7437]

Pls add Subtitles

[@Nirajvora3]

Nhi. Sir Maine jinse pada h uske wajah se mujhe confusion nhi h

[@shivanshsrivastava4953]

PO and sales??? Seriously???

[@sanketkhirid4149]

Samza rahe ho to speed slow chahiye

[@caamit5525]

PO approve nahi hai to sale kyu galat ho gayi bhai 😝😝

[@rjsolanki3481]

aapne to jyada confuse kar diya Sir

[@eliteservices1802]

Khud confuse hai 😅

[@jaiswaladitya511]

Ha bhai

[@sanketkhirid4149]

Jara dhiredhire bhat karo bhai

[@eliteservices1802]

Khud confuse hai Bhai ek hi cheez ko 20 bar bol diya .... 😅

[@NANI-pr3xt]

Khehna kya chahte ho 😅

[@sanketkhirid4149]

Kitni gadbad karte ho