The dual role of Internal Audit
Internal Audit has an assurance role and partners with management and other parties to obtain assurance that the controls in place are working and that the business objectives are being met. This is one of the two main functions that modern Internal Audit performs, the role of assurance partner. The other function is that of […]
The anatomy of an audit (Part Two)
After planning the fieldwork can start. The audit team is delegated specific tests to perform and the fieldwork commences. Everyone should know what they are doing, time allocated and who they will be seeing. The work should be performed in sequence as per the audit programme. This prevents stops and blockages in performing the audit. […]
The anatomy of an audit (Part One)
Planning, planning, planning! Never forget how important planning is in making sure that an audit runs smoothly. This includes what is being audited; notifying the auditee (person being audited); collecting and analysing the data being audited; identifying key risks and scoping the audit. There are audits that must be performed so, when planning for the […]
How you can see into the future and be a fortune saver for your company (for SAP users)
if you are using SAP then this article is a must read. What would you do if you could see into the future and know that something bad was going to happen? You could then take action to prevent whatever it is from happening. Some call this fortune telling. We call it fortune saving. […]
A story of a Financial Director with too much power and the DIRE RESULTS for the COMPANY
The following depiction is total fiction and is not based on real events. This is a short story written by Kingsley Bye. George Santos stands at his office window looking out over the harbour. The window is floor to ceiling and spans the entire wall of the office. The other walls are panelled in walnut […]
Why you need Business Interruption Insurance in the poultry and egg business
Avian influenza or bird flu refers to the disease caused by infection with avian (bird) influenza (flu) Type A viruses. These viruses naturally spread among wild aquatic birds worldwide and can infect domestic poultry and other bird and animal species. The definition of avian is avi·an ˈā-vē-ən. : of, relating to, or derived from birds. […]
7 KEY financial services to HELP your business.
The following is a list of the services provided by Lighthouse Consultants: 1. Audits and review of your business.This includes financial and operational audits as well as developing internal financial control frameworks that help you assess and review your own controls. 2. Sustainability data audits and reviewVerification of the completeness, accuracy and validity of […]
5 KEY hard TRUTHS that most of us don’t confront about MONEY
Based on the economic situation that besets us, it is clear that we need to be more in control of our finances. 1. Without control we are prone to be effect, we tend to be critical of the government, other businesses, our employees and even our children. 2. When the real reason you are […]
How do you STOP the clever criminal in today’s world?
Back in the day, robbing people was as simple as walking into a wooden cabin and pulling out a pistol and taking anything you want. Nowadays, it’s a lot more complicated to rob other people as we have our walls, fences and hundreds of pin codes we can hardly remember. Unfortunately, the robber game has […]
What do you look for when starting a new business?
Once upon a time there was a guy who wanted to start his own business. Optimistic as he was, he didn’t really understand the full extent of what he was getting himself into. Naive in his way, he registered a company and started to do business. Money flowed in and out. By the end of […]