Icas Project Guidlines

9058 words 37 pages

Student Notes

QCF Level 4

Internal Control and Accoun ng Systems




Introduction and Assessment
W here do I start
SWOT Analysis
Internal Controls
Fraud in an Accounting Function
Making Recommendations
Outcomes and Criteria


Report Planning
Assessment Deadlines

*Important terms are highlighted throughout the notes. Further explanation of these terms can be found in the terminology section



1. Introduction and Assessment
What is ICAS?
1.1. Internal Control and Accounting Systems (ICAS) requires you to write a 3500-4000 word report to show your knowledge of internal controls and the evaluation and analysis of accounting systems.
1.2. You have
…show more content…

The deadlines for submission other than the plan - are set by the assessor.
However, you should note that you have a maximum of four months (AAT Deadline) from the date your project is scheduled on Learnplus to upload your 1st Submission.
If you miss this deadline your assessment will be closed and you will have to start again. The AAT will terminate the assessment as Not Yet Competent and this will appear on your Statement of Achievement. You will then have to pay for and complete a case study.
1.23. All Distance Learning students will have a written final interview to verify the report s authenticity 6

2. Where Do I Start?

2.1. You need to look at your current accounting role or accounts department and find one accounting function within this department that you would like to review. Seek your manager s consent straight away because if they do not want you to base your report on the company then you will have to use a case study.
2.2. If you are not currently employed then use the case study.

How to analyse an accounting function and what to look for

2.3. Find an accounting function you are familiar with and think about the potential for problems (accounting error) or the potential for fraud to occur.
2.4. Are you already aware of errors or problems that are occurring? Is there a team already set up to start tackling it? if so you can use their ideas but you must write the report.
2.5. Pick one system (accounting function) and break it