Internal audit and control

Syllabus

1. Introduction. Internal control and internal audit - basic characteristics and tasks. Internal control in the concept of COSO. Measuring the effectiveness of internal audit (IPPF). 2. Control of internal regulations and procedures in the area of tangible and intangible fixed assets (acquisition price, technical improvement vs. repairs, depreciation and deferred tax from the difference between accounting and tax depreciation). 3. Control of internal regulations and procedures in the area of long-term tangible and intangible assets (acquisition of long-term intangible assets vs. costs of services, accounting for long-term assets). 4. Design of internal auditor‘s procedures in the area of tangible and intangible fixed assets, identification of risks of irregularities, deficiencies, errors, fraud, inefficiencies in the selected process (acquisition, valuation, depreciation, accounting and reporting). Identification of possible causes and consequences of identified problems, proposed solutions. 5. Control of internal regulations and procedures in the field of inventories (valuation of inventories during acquisition and production, valuation of inventories at their disposal, discounts on the purchase and sale of inventories). 6. Control of internal regulations and procedures in the field of inventories (consignment warehouse, complaints, stock exchange, stock accounting). 7. Design of internal auditor‘s procedures in the area of inventories, identification of risks of irregularities, deficiencies, errors, fraud, inefficiencies in the selected process (procurement, valuation, accounting and reporting). Identification of possible causes and consequences of identified problems, proposed solutions. 8. Control of internal regulations and procedures in the area of settlement relations (breakdown, reporting of receivables and payables, calculation of accounting and tax adjustments to receivables, deferred tax). 9. Control of internal regulations and procedures in the area of settlement relations (received and provided advances, conversion of the value of receivables to the present value of future cash flows, factoring, accounting of receivables and liabilities). 10. Design of internal auditor‘s procedures in the area of settlement relations, identification of risks of irregularities, deficiencies, errors, fraud, inefficiencies in the selected process (sale and creation of receivables, registration and collection of receivables, purchase and creation of liabilities, registration and settlement of liabilities, accounting and reporting of receivables and commitments). Identification of possible causes and consequences of identified problems, proposed solutions. 11. Control of internal regulations and procedures in the field of taxes (determination of tax liability for VAT on the supply of goods and services in the country and to another EU Member State, on the acquisition of goods and services from another EU Member State, the right to deduct VAT). 12. Control of internal regulations and procedures in the field of taxes (calculation of income tax). 13. Design of internal auditor‘s procedures in the field of taxes, identification of risks of inaccuracies, deficiencies, errors, fraud, inefficiencies in the selected process (VAT registration, VAT deduction, VAT liability, income tax calculation). Identification of possible causes and consequences of identified problems, proposed solutions.