Improving the process of preparing monthly client tax returns of an accounting firm
Internal control is an aspect that every organization needs to design and implement in order to achieve its operational, reporting, and compliance objectives. This action research focuses on improving the internal controls of an accounting firm in its monthly client tax returns preparation process....
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| Main Author: | |
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| Format: | text |
| Language: | English |
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Animo Repository
2022
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| Subjects: | |
| Online Access: | https://animorepository.dlsu.edu.ph/etdm_manorg/98 |
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| Institution: | De La Salle University |
| Language: | English |
| Summary: | Internal control is an aspect that every organization needs to design and implement in order to achieve its operational, reporting, and compliance objectives. This action research focuses on improving the internal controls of an accounting firm in its monthly client tax returns preparation process. Data was gathered by using the different tools of inquiry in the first-, second-, and third-person perspectives. The researcher was able to identify that the firm lacks a detailed review procedure before the final review and approval. Through several inquiries and conversations, the researcher was able to convince the firm’s managing partner on the importance of a detailed review and to implement the added control to its six (6) largest clients. The use of a review checklist was then implemented after the initial run to improve the efficiency of detailed review withs the goal of gradually increasing its coverage. |
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