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Evaluating Accounting System

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Evaluating Accounting System
Evaluate the accounting system and identify areas for improvement. 1.1 Identify an organisation’s accounting system requirements. 1.2 Review record keeping systems to confirm whether they meet the organisation’s requirements for financial information. 1.3 Identify weaknesses in and the potential for improvements to, the accounting system and consider their impact on the operation of the organization. 1.4 Identify potential areas of fraud arising from lack of control within the accounting system and grade the risk. 1.5 Review methods of operating for cost effectiveness, reliability and speed.

2 Make recommendations to improve the accounting system. 2.1 Make recommendations for changes to the accounting system in an easily understood format,
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