The Financial Services Skills Council (FSCC) has announced that it has secured the necessary funding to complete a full review of accountancy standards.
According to the FSCC, it now plans to complete the National Occupational Standards which will cover aspects of the financial industry including accounting, credit management and payroll administration, reports Accountancy Magazine.
The FSCC hopes for industry involvement to help complete the review which is due for completion before the end of April 2009.
Sam Rees Adams, director of education for the FSSC, told the publication that the NOS were a "great tool" to assess a "particular job role".
"Much of their strength comes from the fact that they are developed by the industry, for the industry," he added.
David Vine, managing director of Global Expense, has told dofonline.co.uk that finance directors need to monitor a firm's expenses budget after a recent study found that there are up to £350 million in fraudulent claims each year.
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