Aat Project Based on the Internal Control of Cookridge Carpets Ltd

5911 WordsNov 26, 201224 Pages
1. Terms of Reference 1.1. The researcher made investigation on the effectiveness of the internal Controls and accounting system of Cookridge Carpets Company. It also has some additional contents such as recommendations that helps the company to improve its strengths and weaknesses to protect the company’s reputation. 1.2. The researcher also investigated on the stakeholders of the Cookridge Carpets company, both internal and external. The stakeholders play a very important role in helping the company’s growth. 1.3. The report also investigates that the costs and benefits to Cookridge Carpets and stated that fraud is a major threat…show more content…
Owners- Peter and John Cookridge are the owners of the Cookridge Carpets company. As the owners of the company, their responsibilities are to make sure that the company pays tax according to the principle. They also look at the financial statements of the business to see if the business is making a profit or loss. They also look at the costs of the the business as well as turnovers and also make budgets of the their own business. 4.6.2. Management- The senior accounts clerk is responsible for the management of the business. He is responsible for managing the accounting staff and making recommendations reports based on the weaknesses of the accounts system to improve them. Also to focus on the payroll system to make sure that it complies with the payroll Act required. 4.6.3. Employees- The business employed 20 members of staff; nine Direct Sales staff, three internet sales staff, two cleaners, two car delivery drivers, one accessory salesperson and lastly three part time staff in the small accounts

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