Imperial Corporate Training Institute provides a unique opportunity for financial auditors who want to enhance their skills related to auditing cost accounting systems. The training provides auditors with an understanding of the various aspects of cost management in an organisation as well as the importance of having a proper framework to manage these elements. This training also helps participants to understand the relationship between an organisation’s cost accounting system, operational systems, and controls. The training will allow participants to properly evaluate and use a cost accounting system when making decisions and preparing financial reports.
Cost accounting systems can be complicated to audit due to the different areas of an organisation they encompass, the Imperial Corporate Training Institute’s training course allows professionals to develop a high level of competency for performing the audits through practical applications of the concepts taught. Overall, the training course will provide participants with the skills to assess an organisation’s financial costs through auditing.
Objectives
By the end of this Cost Accounting Systems Audit Training Course, participants will be able to:
- Understand how the structure and purpose of Cost Accounting Systems work within organisations.
- Evaluate the design and effectiveness of Controls in Cost Accounting Environments.
- Use Professional Audit Practices to Evaluate the Accuracy and Reliability of Cost Data.
- Identify Risks Associated with Cost Accumulation, Allocation and Reporting.
- Analytical Assessment of Variances and Cost Behaviour from an Audit Perspective.
- Evaluate/Assure Compliance with Organisational Policies and Procedures, Generally Accepted Accounting Principles, and Regulatory Requirements.
- Verify that System Generated Cost Reports Have Audit Relevance and Integrity.
- Strengthen Internal Audit Planning for Cost Accounting Systems.
- Provide Management with Audit-Based Information to Assist in Improving Cost Efficiency and Performance.
Target Audience
This training course is designed for professionals involved in financial auditing, cost analysis, and internal control assessment, including:
- Internal and external auditors
- Cost accountants and management accountants
- Finance managers and financial controllers
- Internal control and risk management professionals
- Compliance officers
- Audit committee members
- Professionals involved in operational and performance audits
- Finance and accounting professionals seeking specialisation in cost accounting system audits