Since the 1950s operational and managerial accounting practices have been progressing, but many organizations have not reformed their methods and remain decades behind.
Unlike an audit by CPA firms of an organization’s external financial accounting for compliance with regulatory rules and standards, no such audit or assessment exists for internal managerial accounting practices. This consulting service provides this needed assessment.
This assessment is performed by experienced management accountants, similar to the role of examiners for ISO-9000 or Malcolm Baldrige Award assessments, and evaluates the quality of an organization’s management accounting practices, treatments, and systems.
The assessment is based on a costing maturity model published by the International Federation of Accountants (www.ifac.org), the global organization with 180+ professional accounting institutes as its members.