Cc Ltd

An Investigation and Review of the Weaknesses in the Accounting Function for Cookridge Carpets Ltd with Recommendations for Improvement of Internal Controls.


  1. Terms of Reference
  2. Executive Summary
  3. Methodology
  4. Introduction
  5. Analysis and Evaluation of the current system
  6. Fraud
  7. Recommendations
  8. Appendices
      - A.   Organisational chart
      - B.   Job description of Credit Controller position & cost benefit analysis.
      - C.   List of proposed cheque signatories.
      - D.   SWOT analysis for Cookridge Carpets.

  9. References and Mapping document.

  1. Terms of Reference

    i) This Report is submitted for assessment of competence in the AAT learning and assessment area ‘Internal Control and Accounting Systems.’
    ii) The Report looks at the need to make improvements to the Accounting system and internal controls for Cookridge Carpets Ltd.

2. Executive Summary

To summarise, after consulting with the Accounts staff, and gaining their respective feedback, it was decided that training would be offered to the team to ensure holiday and sickness cover was available – A Sage 50/Payroll course was authorised as well as the instigation of a program of in-house staff training in all aspects of the Accounting function.

Internal control and audit procedures were implemented to minimise errors and reduce the risk of losses to CCL.

Recruitment of a part time Credit Controller was authorised to focus on the setting up of new credit agreements, and the enforcement of the terms of the agreement.

3.   Methodology

This project commenced with the Senior Accounts Clerk (SAC) taking an in depth review of...