In this article, we will explore the top factors affecting the financial performance of SMEs and the key benefits of conducting financial health checkups for SMEs.
As a future-focused company that wants to thrive and maximize its productivity, you must understand the essentials of business process automation
Here in this article, we will explore key indicators that show your organization is ripe for process automation. This helps you know the right time to invest in this transformative technology.
Note that there is no one-size-fits-all when it comes to internal controls. The system of internal controls appropriate for your organization depends on the size, structure and nature of your business operations.
In this article, we guide you toward understanding what a control environment is, its importance, and its components. This will help you know how to set up a control environment in your organization.
To effectively manage fraud, three factors must be in place: strong internal controls, an internal audit function, and a whistleblowing system. Continue reading as we explore these three factors and how you can implement them in your organization.
To minimize fraud risk, you must understand the different ways these organizational frauds occur. Armed with this knowledge, you can easily detect red flags and build preventive and mitigation measures to control them.
Designing and implementing internal controls in your business is not optional; it is mandatory if you want to succeed, regardless of your business type and size. A lack of effective internal controls can cause financial loss, operational disruptions, and reputational damages.
Risk assessment is a critical aspect of sound business strategy involving identifying, analyzing, and evaluating potential hazards, their likelihood of occurring, and their impact on the business, its systems, or its employees.
The importance of internal control cannot be overemphasized, as it is the backbone of effective financial management and corporate success.