Icas Project Guidlines
aat
Student Notes
QCF Level 4
Internal Control and Accoun ng Systems
STUDENT NOTES
1
Contents
Section
page
Introduction and Assessment
W here do I start
SWOT Analysis
Internal Controls
Fraud in an Accounting Function
Making Recommendations
Outcomes and Criteria
17
Report Planning
Assessment Deadlines
*Important terms are highlighted throughout the notes. Further explanation of these terms can be found in the terminology section
2
3
1. Introduction and Assessment
What is ICAS?
1.1. Internal Control and Accounting Systems (ICAS) requires you to write a 3500-4000 word report to show your knowledge of internal controls and the evaluation and analysis of accounting systems.
1.2. You have a maximum of six months to complete this unit and there are other significant deadlines that must be adhered to. The deadlines are discussed later with your assessor. If you do not complete the unit within the six months you will have to start again using a case study ( a new one if already doing a case study) which you will have to pay for. You would be marked as Not Yet Competent and your Statement of Achievement would reflect this
1.3. You will be required to identify areas of weakness that could lead to errors in the accounts, and to assess the potential for fraud to occur. You will have to make recommendations to address these issues and detail their costs and benefits.
1.4. Your report will have section and paragraph numbers that you will use to complete a
1
showing how your report covers the AAT requirements.
1.5. You will also need a letter confirming the report is your own work (employer or assessor provided) this is called a witness testimony. Distance Learning students will also have to complete a written final interview.
1.6. This unit is key to obtaining the level 4 qualification for AAT and requires a good standard of written English. The assessment is as much about your writing skill as it is about
Student Notes
QCF Level 4
Internal Control and Accoun ng Systems
STUDENT NOTES
1
Contents
Section
page
Introduction and Assessment
W here do I start
SWOT Analysis
Internal Controls
Fraud in an Accounting Function
Making Recommendations
Outcomes and Criteria
17
Report Planning
Assessment Deadlines
*Important terms are highlighted throughout the notes. Further explanation of these terms can be found in the terminology section
2
3
1. Introduction and Assessment
What is ICAS?
1.1. Internal Control and Accounting Systems (ICAS) requires you to write a 3500-4000 word report to show your knowledge of internal controls and the evaluation and analysis of accounting systems.
1.2. You have a maximum of six months to complete this unit and there are other significant deadlines that must be adhered to. The deadlines are discussed later with your assessor. If you do not complete the unit within the six months you will have to start again using a case study ( a new one if already doing a case study) which you will have to pay for. You would be marked as Not Yet Competent and your Statement of Achievement would reflect this
1.3. You will be required to identify areas of weakness that could lead to errors in the accounts, and to assess the potential for fraud to occur. You will have to make recommendations to address these issues and detail their costs and benefits.
1.4. Your report will have section and paragraph numbers that you will use to complete a
1
showing how your report covers the AAT requirements.
1.5. You will also need a letter confirming the report is your own work (employer or assessor provided) this is called a witness testimony. Distance Learning students will also have to complete a written final interview.
1.6. This unit is key to obtaining the level 4 qualification for AAT and requires a good standard of written English. The assessment is as much about your writing skill as it is about