One of the fundamental requirements of an accounting system is documented policies and procedures, which are used in establishing and maintaining an organization’s internal controls, accounting, and reporting. The policies and procedures should capture how things are done, serving as an important tool for clarifying roles, responsibilities, and ensuring accurate financial data is used for decision making.
This course will focus on the purpose of having written (well-documented) policies and processes that serve as a basic framework and the importance of these procedures being consistently executed by all users of the system to promote operational efficiency and governance.
After completing this training, you will
- Understand the importance of policies and procedures
- Know common policies and procedures reviewed by govcon auditors
- Understand the difference between formal and informal documentation methodologies
- Discover ways to maintain adequate policies and procedures
Target Audience: accountants, bookkeepers, business owners, CFO/controllers, CPAs, and government contractors