ICAs Inkwell
List Of Content
1. Terms Of Reference
2. Executive Summary
3. Methodology
4. Nature And Structure of Inkwell Ltd
5. Description of Current Accounting Systems
6. Weakness and Findings of Current Accounting System
7. Fraud
8. Recommendations
9. Cost Benefit Analysis
10. Appendices
Terms of Reference
1.1 This report has been prepared to cover the requirements of AAT learning assessment are internal controls and accounting systems
1.2 This report investigates the accounting system in place within Inkwell Ltd with regards to making recommendations to improve the systems and controls in place to protect it and reduce systems exposure to fraud
1.3 As part of the investigation into the system the report also looks at the organisation needs from the system. Appropriate recommendations for improvement are made.
1.4 The report also analyses the recommendations made in terms of the costs and benefits and analysis potential fraud as a risk to the organisation
Executive Summary
2.1 This report has been written on behalf of the Finance Director of Inkwell Limited. Its purpose is to investigate and make suitable recommendations for the improvements to the company’s internal controls and accounting systems and assign such improvements to a cost benefit analysis.
2.2 A complete examination into the operation of the accounting function was carried out and a review of each staff members job role.
2.3 Preliminary findings show the accounts function is struggling to operate effectively due to levels of understaffing and poorly managed and untrained work force. This coupled with the non-compliance and lack of internal controls procedures prevents an anti-fraud culture and is threatening work capital levels preventing the continued expansion of Inkwell Limited.
2.4 Several areas have been identified as the main cause of this and include the part time employment of two key workers within the
1. Terms Of Reference
2. Executive Summary
3. Methodology
4. Nature And Structure of Inkwell Ltd
5. Description of Current Accounting Systems
6. Weakness and Findings of Current Accounting System
7. Fraud
8. Recommendations
9. Cost Benefit Analysis
10. Appendices
Terms of Reference
1.1 This report has been prepared to cover the requirements of AAT learning assessment are internal controls and accounting systems
1.2 This report investigates the accounting system in place within Inkwell Ltd with regards to making recommendations to improve the systems and controls in place to protect it and reduce systems exposure to fraud
1.3 As part of the investigation into the system the report also looks at the organisation needs from the system. Appropriate recommendations for improvement are made.
1.4 The report also analyses the recommendations made in terms of the costs and benefits and analysis potential fraud as a risk to the organisation
Executive Summary
2.1 This report has been written on behalf of the Finance Director of Inkwell Limited. Its purpose is to investigate and make suitable recommendations for the improvements to the company’s internal controls and accounting systems and assign such improvements to a cost benefit analysis.
2.2 A complete examination into the operation of the accounting function was carried out and a review of each staff members job role.
2.3 Preliminary findings show the accounts function is struggling to operate effectively due to levels of understaffing and poorly managed and untrained work force. This coupled with the non-compliance and lack of internal controls procedures prevents an anti-fraud culture and is threatening work capital levels preventing the continued expansion of Inkwell Limited.
2.4 Several areas have been identified as the main cause of this and include the part time employment of two key workers within the