Internal Controls in Cookridge Carpets Essay

4705 Words Sep 25th, 2012 19 Pages
Student Notes


QCF Level 4

Internal Control and Accounting Systems



Section 1 2 3 4 Introduction and Assessment Outcomes and Criteria Internal Controls and Fraud Finding weaknesses and making recommendations Business English Report Plan Deadlines Report Guide Other requirements page 3 6 9 12

5 6 7 8 9

18 19 25 27 38


1 Introduction and Assessment
What is ICAS Internal Control and Accounting Systems (ICAS) requires students to write a 35004000 word report to show their knowledge of internal controls and evaluating accounting systems. 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
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This will be your First Assessment. Many students will not be competent at the first assessment so feedback will be given on the required amendments. (If you fail to submit within 4 months you will have failed this attempt and be reported as Not Competent to AAT. You will have to restart the unit using a case study for which there will be a charge.) You must follow the guidance given and resubmit your report for a Second assessment. If it is still not competent further feedback will be given for a final submission. If at the Third assessment it is still not competent we report you as Not Yet Competent to AAT and you must re-start the unit on a new topic through the case study route.


Distance Learning students will have a final interview to verify the reports authenticity. Classroom students may also have a final interview if additional verbal questioning is required. In addition to the formal assessments noted above, assessors can offer additional support as “Formative guidance” – this is not a full assessment of the report so will not be detailed feedback on the full report but general guidance e.g. on writing in the third person, mapping to standards.


2 Outcomes and Criteria
There are two areas covered by this unit Principles of Control (PIC is a knowledge unit) and Evaluating Accounting Systems (EAS is a skills unit). The learning outcomes and assessment criteria are detailed below. Title Level

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