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Internal Financial Controls: Implementation and Testing
Author:
CA Kapoor
ISBN:
9789386432063
Buy Book in Print
Publication Date:
2017
Publisher:
Bloomsbury Publishing India Pvt. Ltd
Copyright:
2017 © 2017, Jagdish Kapoor
GO
Contents
Contents
Expand All
Collapse All
Dedication
About the author
Preface
Close section
Chapter 1: A De-brief
1.1: Internal Financial Controls – In Indian Context
1.2: Understanding IFC & its relationship with ICoFR
1.3: ICoFR-Deliverables
1.4: Segregation of Duties (SoD)
1.5: Control effectiveness
Close section
Chapter 2: IFC Framework – Regulatory Aspects
2.1: Applicability status
2.2: Directors responsibility
2.3: Audit committee
2.4: Auditor’s report
Chapter 3: IFC Framework Implementation Project-Roll-out approach
Close section
Chapter 4: Life-cycle of an IFC Framework Implementation Project
4.1: ROADMAP OF IFC FRAMEWORK IMPLEMENTATION PROJECT
4.2: UNDERSTANDING THE PROJECT OBJECTIVES
4.3: EVALUATE
4.4: ENVISAGING AND PLANNING
4.5: EXECUTING & ENSURING
4.6: SUMMARY OF STAGE WISE ASPECTS OF THE PROJECT LIFE-CYCLE
Close section
Chapter 5: IFC Framework Implementation and Testing
5.1: INTRODUCTION
Close section
Section A: Governance Policies
Risk Management Policy
Code of Conduct & Ethics
Internal Audit Charter
Audit Committee(AC) Charter
Close section
Section B: Standard Operating Procedures (SOPs)
SOP-Period end/month-end closing procedures
SOP-Record to Report
SOP-Treasury & Corporate Finance (TCF)
SOP-Financial Planning and Analysis (FPA)
SOP-Capital Expenditure
SOP-Secretarial audit
SOP-Purchase
SOP-Cash Purchase
SOP-Procedure for Perpetual Inventory in Stores
SOP-Debtors/Creditors Management and Reconciliation
SOP-Segregation of Duties (SoD)
SOP-Master Database Updation (MDU)
SOP-Process Review/Change Management Protocol
Close section
Section C: Control Checklists
AREA-RECORD TO REPORT
AREA-TREASURY & CORPORATE FINANCE
AREA-FINANCIAL PLANNING AND ANALYSIS
AREA-CAPITAL EXPENDITURE
AREA-INVENTORY MANAGEMENT
AREA-PROCUREMENT TO PAY
AREA-ORDER TO CASH
AREA-HUMAN RESOURCES (HR)
Close section
Section D: Internal Financial Controls Documentation-RCM
ENTITY LEVEL CHECKLIST
SAMPLE-RTR RECORD TO REPORT RCM
PROCESS NAME: TREASURY AND CORPORATE FINANCE
PROCESS NAME: FINANCIAL PLANNING AND ANALYSIS
PROCESS NAME: CAPITAL EXPENDITURE
PROCESS NAME: INVENTORY MANAGEMENT
PROCESS NAME: PROCUREMENT TO PAY
PROCESS NAME: ORDER TO CASH
PROCESS NAME: HUMAN RESOURCES
Close section
Section E: Testing Outcome Sheet
Testing sheet-Financial Planning and Analysis
Testing sheet -Record to Report
Testing sheet -Treasury and Corporate Finance
Close section
Section F: Executive Summary : IFC Implementation & Testing
Key aspects of Internal Financial Controls
[34.228.52.223]
34.228.52.223
