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Internal audit and stocktaking training

Internal audit is a system of measures adopted by an accounting unit in order to prevent irregularities both intentional and accidental. Our internal audit training focuses on the following issues:

Importance of internal audit

  • prevention of employee fraud
  • responsibility
  • company policy and organisational procedures to achieve the company’s goals

Key goals

  • protecting assets against waste, fraud and other undesired use
  • higher accuracy and reliability of accounting books
  • better acceptance of company policies among employees
  • evaluation of operation efficiency

Internal audit system = all measures that are put in place to ensure that the system is working as it should.

Necessary internal audit tools

  • indirect management tools – accounting books and statistics
  • decision making based on accounting data and company policy
  • ensuring that company policy is accepted by employees
  • management responsible for the correctness, accuracy and completeness of accounting books
  • independent audit, plan and understanding of internal audit, audit plan

Accounting and administrative control

  • definition of professional standards
  • internal accounting control – reliability of accounting books and records
  • internal administrative control based on precise definition of responsibilities and procedures and their observance
  • priority criteria

Creating an accounting document circulation system

One of the most important parts of a correctly functioning internal audit system is processing of the internal accounting document circulation. Companies must have precise definitions of responsibilities for different tasks. Tasks related to the processing and review of document circulation include:

  1. The client appoints a person responsible for communication and collaboration with our company.
  2. Interim document, organisation charts, project documentation and, if applicable, verbal description of the document circulation system are submitted to our company.
  3. Circulation of different types of accounting documents is outlined in spreadsheet form.
  4. Accounting document circulation flowcharts developed. .
  5. Discussion on proposed spreadsheets and flowcharts with the client’s management.
  6. Adjustments to the proposed solution based on comments from the client’s management.
  7. Final approval of the proposal by the client’s management.
  8. Approved flowcharts handed over to the client.

Our internal circulation services are closely related to another area of our activities: assistance with the development of signature rules and signature right systems.