An evaluation of the internal controls and an investigation of the accounting system at Inkwell Limited.
Student Name: Paul Michael Bantusitse
AAT Number: 10416343
I testify that the following report is my own unaided work and a true reflection of the organization.
Signed: Dated:
Table of Contents 1. TERMS OF REFERENCE 3 2. EXECUTIVE SUMMARY 3 3. METHODOLOGY 3 4. INTRODUCTION TO THE ORGANISATION 4 4.5 External regulation affecting the organization 4 4.6 Inkwell Ltd-Key external stakeholders 5 5. THE ACCOUNTS DEPARTMENT 5 5.3 The accounts department-Key internal stakeholders 6 6. REVIEW OF THE ACCOUNTING SYSTEM 7 6.3 Working 4.5.4 The data Protection Act 1998-The fundamental principle of confidentiality is related to this act and this regulates how Inkwell Ltd processes and stores information of customers, suppliers and employees so as to minimize possible penalties. 4.5.5 Late Payment law-Inkwell Ltd ought to pay its suppliers on time as this is set out in the Late Payment of Commercial Debts Act 1998 so as to eradicate the possibilities of being sued and loosing reputation. 4.5.6 Health and Safety Legislation-Inkwell Ltd is obliged to teach its staff how to withstand some of the outcomes that are safety related since harmful substances (Ink) are used and the toner cartridges has some devices that are connected with controlled light and rays. Procedures of dealing with this matter are essential to protect people against any harmful effect. 4.6 Inkwell Ltd-Key external stakeholders 4.6.1 Customers-The customers of Inkwell Ltd are into two categories being small retailers and large trade customers who purchase re-manufactured inkjet and toner cartridges. They expect to be provided with quality service at discounted, reasonable prices. This is happening as they are given 30-60 days of credit after a trial of three months of paying with purchase
