Internal Auditing Report, September 2001, Volume 2, Number 3
Certified Bookkeepers - The Professionals with an Audit Trail
Certification Brings Higher Standards to Financial Reporting
Can Certified Bookkeepers be of any help to internal auditors? CPAs and Certified Bookkeepers say they can, because Certified Bookkeepers can:
Make end-of-period adjustments correctly, so that auditors can scan adjusted journal entries instead of essentially doing them over.
Create depreciation schedules for book (General Accepted Accounting Principles) or tax purposes, so auditors can scan the schedules instead of creating or having to recreate them.
Perform the monthly bank reconcilation.
Make current period corrections that are accurate and easy to trace.
Prepare payroll or can keep an eye on the organization's payroll services.
Record merchandise inventory under the periodic or perpetual methods and cost it out under the weighted and moving average, FIFO, LIFO, and LCM methods and close out inventory at year end.
"Solid reliable financial information comes only from solid reliable financial training," says Myrna F. Stacey, CPA. "Most bookkeepers learn on the job and have no formal training. They know how to do an adjustment and why it is important as well as how to find an incorrect entry and how to correct it and why the correction is so important."
"Certified Bookkeepers are doing for accounting what paralegals did for law and physicians' assistants did for medicine but at a higher level," reports Margaret A. Johnson of Tucson, AZ, who teaches the Certified Bookkeeper courses. "More importantly, anyone who becomes a Certified Bookkeeper is eminently trainable for industry specialization, tax preparation or more advanced accounting. By becoming a Certified Bookkeeper, they have demonstrated not only a proven knowledge of basic accounting rules but the motivation to learn and the desire and ambition to be a professional."