ACCA考試(P1專業(yè)會(huì)計(jì)師)考前總結(jié)7

2014年ACCA考試（P1專業(yè)會(huì)計(jì)師）考前總結(jié) 7本文由高頓 ACCA整理發(fā)布，轉(zhuǎn)載請(qǐng)注明出處InternalControlandReviewInternalcontrol:Definition/Importance/ObjectivesDefinition/Importance(Definition)Internalcontrolisanyactiontakenbymanagementtoenhancethelikelihoodthatestablishedobjectivesandgoalswillbeachieved.Managementplans,organizesanddirectstheperformanceofsufficientactionstoprovidereasonableassurancethatobjectivesandgoalswillbeachieved.Thusthecontrolistheresultofproperplanning,organizinganddirectingofmanagement.Controlsattempttoensurethatrisksandthosefactorswhichstoptheachievementofcompanyobjectivesareminimized.(Importance)(1)Internalcontrolandriskmanagementarefundamentalcomponentsofgoodcorporategovernance.(2)Goodcorporategovernancemeansthattheboardmustidentifyandmanageallriskswithinacompany.(3)Intermsofriskmanagement,internalcontrolsystemsspanfinancial,operational,andotherareasi.e.alltheactivitiesofthecompany.(4)However,internalcontrolsystemareonlyasgoodasthepeopleusingthem.Objectives(APB)(1)Theorderlyandefficientconductofitsbusiness,includingadheretointernalpolicies.Thesafeguardingofassets.Thepreventinganddetectionoffraudanderror.Theaccuracyandcompletenessoftheaccountingrecords.Thetimelypreparationoffinancialinformation.(COSO)(1)Effectivenessandefficiencyofoperations.Reliabilityoffinancialreporting.Compliancewithapplicablelawsandregulations.RolesinriskmanagementResponsibilityforinternalcontrolisnotsimplyanexecutivemanagementrole.Allemployeeshavesomeresponsibilityformonitoringandmaintaininginternalcontrols.Boardofdirectors:Ensuringadequacyandeffectivenessofinternalcontrolsystem.Seniorexecutivemanagement:Settinginternalcontrolpolicies;Monitoringeffectivenessofinternalcontrolsystem.(3)Headsofbusinessunits:Establishingspecificinternalcontrolpoliciesandprocedures.Allemployees:Operatingandadheringtointernalcontrols.Elements/Componentsofinternalcontrolsystem(COSOframework)ControlEnvironmentItdescribestheethicsandcultureoftheorganization,whichprovideaframeworkwithwhichotheraspectsofinternalcontroloperate.Itistheattitudeandactionsoftheboardandmanagementregardingthesignificanceofcontrolwithintheorganization.Itprovidesthedisciplineandstructureoftheachievementoftheprimaryobjectivesofthesystemofinternalcontrol.(4)Itincludes:(a)management’sphilosophyandoperatingstyle;(b)organizationstructure;(c)Assignmentofauthorityandresponsibility;(d)humanresourcespoliciesandpractices;(e)competenceofpersonnel.RiskAssessment(1)Thereisaconnectionbetweentheobjectivesofanorganizationandtheriskstowhichitisexposed.Therisksinvolvedinachievingthoseobjectivesshouldbeidentifiedandassessed.Riskassessmentshouldformthebasisfordecidinghowtherisksshouldbemanaged.ControlActivities(1)Thesearepoliciesandproceduresthatensurethatthedecisionsandinstructionsofmanagementarecarriedout.Controlactivitiesinclude:(a)authorizations;(b)verifications;(c)reconciliations;(d)approvals;(e)segregationofduties;(f)performancereviewsetc.(3)Thesecontrolactivitiesarecommonlyreferredtoasinternalcontrols.InformationandCommunicationAnorganizationmustgatherinformationandcommunicateittotherightpeople.Managersneedbothinternalandexternalinformationtomakedecision.Thequalityofinformationsystemsisakeyfactor.MonitoringTheinternalcontrolsystemmustbemonitored.Thiselementofaninternalcontrolsystemisassociatedwithinternalaudit.Itisimportantthatdeficienciesintheinternalcontrolsystemshouldbeidentifiedandreporteduptoseniormanagementandtheboardofdirectors.InternalauditInternalauditisanappraisalormonitoringactivityestablishedbymanagementanddirectorsforthereviewoftheaccountingandinternalcontrolsystemsasaservicetotheentity.Internalauditfunctionsbyexamining,evaluatingandreportingtomanagementanddirectorsontheadequacyandeffectivenessofcomponentsoftheaccountingandinternalcontrolsystems.Internalauditisamanagementcontrol.Itreviewstheeffectivenessofothercontrolswithinacompany.(4)Theworkofauditisvaried–fromreviewingfinancialcontrolsthroughcheckingcompliancewithlegislation.Theinternalauditdepartmentisnormallyunderthecontrolofachiefinternalauditorwhoreportstotheauditcommittee.(Importance)Insomesituation,itisastatutoryrequirementtohaveinternala