ICAS

ICAS - Internal Controls of Accounting System

ICAS - Internal Controls of Accounting System ISS Mediclean

General Introduction to ICAS

The Internal Controls of Accounting System (ICAS) comprises the plan of the organization and the records concerning the safeguarding of assets and reliability of accounting records. These types of controls provide reasonable assurance in relation to the exchanges that are performed in accordance with general authorizations or specific management as well as record changes to maintain adequate control and permit the preparation of required documents. Apart from that, ICAS also ensures that assets are safeguarded only and that recorded assets are compared with stocks.

This research will be established and carried out by using a quantitative research method. The project used primary data. Questionnaire was designed to find out the level of acceptance of the Reliance communication. The primary data collected is analyzed quantitatively by using the SPSS tool. In SPSS, Descriptive statistics technique was used for calculating the means of the responses then compare them to get the output. Standard Deviation and Variances were also calculated to support the mean output and helped in interpreting the results.

Cost Benefit Section and Executive Summary

The cost of control can not be greater than the control value. But it is difficult to determine that value. This should be analyzed for each particular control system and depends on the characteristics and organizational values ??of each company. There are many legal violations that must be controlled by companies worldwide. Accounting standards and internal accounting controls are just some of the major violations that will not only help the company but also assist in managing their finances through keeping the track on debts, taxes charges. The laws relating to internal controls in public corporations and companies are particularly severe, due to the fact that public funds and interest will be secured by means of such inspections and violations.

In this paper we will discuss the internal controls of accounting System of ISS Mediclean. In this paper, we will see and discuss the impact of forecast on the organization which can cause fraud and will make certain suggestion regarding to effectiveness of the forecast in ISS Mediclean. The paper focuses in central finance and the forecast, which is due to the internal control, mainly by the employees while doing forecast of the financial statements. They violate the accounting polices which in return cause a fraud in front of accounting management committee as well as among the management. Moreover, this paper is also predicts the functions that are allotted to the employees. Hence, the financial controls of the whole organization get distribute. As decision and other related things are in this organization is entirely based on the forecast of the budget which comprise of sales, purchases, expenses, revenues etc.

The measurements of choice for literature were relevancy to the research topic and year of publishing. Both public and individual libraries, as well as online libraries, were chaffered to approach the data. Some of online databases that were accessed are SAGE, Questia, emerald, ...