It’s a reality that incompetent accounting staff can virtually destroy a business.
Accounting practices have changed significantly over the last decade due to intense market pressures. These pressures include commodity-based pricing and rising costs from training, technology, and litigation (Eilifsen, Knechel & Wallage, 2001). Several major accounting scandals in the early 2000s, such as Arthur Andersen and Enron, also triggered revisions to key accounting practices. These events showed how improper or incompetent actions by accountants and auditors can damage an organisation’s reputation and long-term stability. They also highlighted the importance of recognising and responding effectively to strategic risks.
Enhance Accounting Accuracy with Knowledge and Skills Testing
Errors in financial statements can occur as a result of mistakes, omissions, or lack of knowledge of Generally Accepted Accounting Principles (GAAP). The pace of change in the business world means that principles learned during an accounting or bookkeeping course may be outdated once an applicant enters the workforce or changes jobs. That’s why it’s important to ensure your accountant or bookkeeper possesses the required knowledge and skills to manage your accounts and protect your organisation.
Our Accounting Knowledge Testing Program (AKTP) measures the general accounting principles. That every accountant and bookkeeper should know, and has basic, intermediate and advanced levels. So that it can be used for all levels of accounting professionals, from accounts payable/receivable clerks to internal auditors. Our MYOB assessment, which measures accounting professionals’ knowledge of the popular and widely used accounting information system. MYOB was developed in partnership with accredited MYOB professionals to help businesses ensure that their accounting and bookkeeping staff’s MYOB knowledge is adequate.
Contact-us today and protect your business.
References
Eilifsen, A., R., Kneche, R. & Wallage, P. (2001). Application of the business risk audit model: a field study. Accounting Horizons, 15, 198-215.
