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 […]
Can you trust your employees
Can you trust your employees? Do you have controls and monitoring systems in place to detect fraud or any transgressions or non-optimal performance within your company? Are you monitoring revenue and costs? If the answer is “No” to any of these questions then you are haemorrhaging cash. This is a fact. Without monitoring systems there […]
Are you stuck in a timeless rut and can’t seem to shift out of it?
It is funny how deceptive time is and how it can change speed. There is a slow run up at the beginning of the year, things start to speed up and it is the end of the year whizzzz… another year gone. What happens to all the time? It is just eaten up like a […]
The link between understanding business processes and staff competence
There is a distinct connection between understanding business processes, controls and competence. If your employees and management do not understand your business and the reason for certain processes and controls then they cannot take ownership of the processes and will not be responsible for what goes wrong. Understanding comes with knowing the purpose of things […]
The analogy of the car
I like to use the analogy of a car when talking about running a business. Cars are very near and dear to most of us and can become an extension of who we are. The same applies for your business, even if it is an organisation you work for, this becomes who you are. We […]
The “Be Do Have” breakthrough business approach
Control and risk, two sides of the coin
For there to be a control, there has to be a risk. If there is a control without a risk then you have to question the reason for the control. Some controls are in place because they have always been there and may no longer have a purpose. The purpose of controls is to reduce […]
Season changes and contrasts
How is April treating you? As we in the South head towards winter and autumn starts finally showing itself, our Northern brothers are happily awaiting summer with spring in the air. This is my favourite time of the year in Durban – the time of crystal days. Perfect sunshine and blue skies with wisps of […]
What good control means
Are you in control of your life, your business, your health, your family? Control is simply the ability to start, change and stop motion or cycles of action. This could be the simple cycle of going for a jog, preparing and eating a meal or a whole production line. This applies when starting, changing and stopping […]