Control operational risk for quality accounting information
The accounting impacts all the activities of the organization, like all the processes. Integrated into the engagement of operations or receiving flows, accounting is at the center of information systems by irrigating them with data recorded over time. The accounting procedures are also key pieces for the construction of financial statements restoring the assets of the organization and the result of its activities. The annual accounts consequently do not support errors, malfunctions, or even manipulations of all kinds. Knowing that operational risk is the first factor affecting the quality of accounting, it should be controlled. The drafting of an accounting procedures manual must make it possible to achieve this control objective, by framing the ways of doing things. It is thus likely to limit processing incidents, provided, however, that it rests on solid operational foundations. Points to include in the accounting procedures manual Accounting, like all processes, is not exempt from a procedural approach consisting of framing operating procedures in writing. Writing procedures is an exercise that rarely arouses the enthusiasm of the employees concerned. It is nonetheless essential even if many find little interest in it. A procedure is in a way a rule of the game to be observed. It empowers, but also secures the person responsible for executing it. Regarding accounting, the cornerstone of any process is the manual of accounting procedures, a framework document justifying and conditioning the tasks. It is therefore important that its writing is of quality and includes the following points: Organization of services around accounting services in Dubai : the manual must specify the field of responsibility of all the departments concerning the accounting treatments by type of operation. Between accounting entrusted in part to the trades, or a centralized system where all entries belong to a dedicated department, the processes are different, hence the management of operational risks to be adapted accordingly. Accounting schemes: accounting is a technique based on registration standards to be observed. The determination of the diagrams of accounts for the re transcription of the economic operations is to supervise by persons qualified on the subject, and to integrate if possible in the tools to secure the accounting records at the level of conformity. Accounting procedures: the manual must give meaning to the procedures to be implemented, in a coherent and efficient whole for the production of quality information. Any accounting process must be formalized in order to check its relevance and ensure that the procedural package covers all of the organization's activities. Read also: Auditors in UAE Accounting controls: process point without control since operational risk is everywhere. Controls are, moreover, an integral component of accounting treatments, and not devices that are added and would then be reserved exclusively for a few…
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August 2022
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