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Accounting Procedures Manual

An accounting procedures manual enhances management’s efforts to:

• Monitor performance against established procedures
• Help ensure policies and procedures are consistently applied
• Improve efficiency in training employees during periods of transition
• Update procedural changes by reorganization or the implementation of a new information system

How we can help

KPMG recognizes the challenge faced by companies in allocating limited resources to develop an Accounting Procedures Manual. In response, we have created a service that allows an organization to outsource this task. We assist in updating or compiling new documentation of the sequence and details of key accounting function procedures.

Our approach

KPMG uses a systematic process for documenting procedures. This process includes:

• Creating a topic outline for key procedures
• Interviewing staff in key functional areas
• Conducting a walk-through to validate interview information
• Observing users performing key procedures

For each activity, we record:

• The position responsible for the activity
• The review process and the position responsible for sign-off
• Required inputs for the procedure
• Desired outputs
• The exception handling process

After documenting the workflow and key activities for each process, KPMG develops a key reference manual.

The manual includes narratives, matrix tables to clarify interconnected activities, and flow charts for selected procedures. Supporting exhibits may include sample documents, a master calendar of critical deadlines etc. You also receive an electronic copy of the manual, which provides a mechanism for you to update procedures on an ongoing basis.

KPMG's Internal Audit Services include:

• Corporate Governance - Review and Assessment
• Outsourcing or Co-sourcing of Internal Audit
• K’SPRint (strategic review of internal audit departments)
• Establishing an Internal Audit Function
• Accounting procedures manual
• Reconciliation problem resolution

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