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To Audit or Not to Audit: That is the Question Part Two

Internal audit

In the grand Shakespearean drama of life, there exists a dilemma that haunts the corridors of corporations and the cubicles of accountants alike. A dilemma so profound, so intricate, that it could easily be mistaken for the plot of a tragicomedy. Yes, dear reader, we speak of the age-old question: to audit or not to […]

To Audit or Not to Audit: That is the Question Part One

Internal audit

In the grand Shakespearean drama of life, there exists a dilemma that haunts the corridors of corporations and the cubicles of accountants alike. A dilemma so profound, so intricate, that it could easily be mistaken for the plot of a tragicomedy. Yes, dear reader, we speak of the age-old question: to audit or not to […]

Implications of UK SOX Lite for listed companies in the UK

UK SOX Lite

In the evolving landscape of corporate governance and regulatory compliance, UK companies are increasingly focusing on a new set of guidelines dubbed “UK SOX Lite.” Inspired by the US Sarbanes-Oxley Act (SOX) of 2002, which was introduced to protect investors from corporate fraud, the UK variant aims to enhance the integrity of financial reporting and […]

Eight reasons why it is Important to Have an Internal Audit Department in your Organisation.

Internal audit

In today’s complex business environment, organizations face numerous challenges and risks that can affect their performance and sustainability. To navigate these complexities, an internal audit department becomes a critical component of an organization’s governance framework. This article explores the various reasons why an organization should establish and maintain an internal audit department. 1. Enhancing Risk Management […]

The Second Step in Effective Corporate Governance: Implementing the Framework

Effective Corporate Governance

Corporate governance is the cornerstone of a successful and sustainable business. It encompasses the systems, processes, and principles by which companies are directed and controlled, ensuring accountability, fairness, and transparency in a company’s relationship with all its stakeholders. The first and perhaps the most critical step in establishing effective corporate governance is to develop a […]

The First Step in Effective Corporate Governance: Establishing a Robust Framework

Effective Corporate Governance

Corporate governance is the cornerstone of a successful and sustainable business. It encompasses the systems, processes, and principles by which companies are directed and controlled, ensuring accountability, fairness, and transparency in a company’s relationship with all its stakeholders. The first and perhaps the most critical step in establishing effective corporate governance is to develop a […]

The 10 key risks to not having an Internal Audit function in your business.

Internal audit

Not having an internal audit function in a business poses several key risks, which can impact the organization’s operations, financial health, and overall governance. Here are the primary risks: 1. Increased Risk of Fraud and Misconduct Without an internal audit function, there is less oversight and monitoring of internal controls, increasing the likelihood of fraudulent […]

The anatomy of an audit part four

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 three

Internal audit fieldwork

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 No-Nonsense Guide to Business Success in the UK Today part one

UK Business Success

The No-Nonsense Guide to Business Success in the UK Today In the ever-evolving landscape of business, success isn’t handed out on a silver platter. It’s earned through grit, strategy, and a relentless pursuit of excellence. Nowhere is this truer than in the dynamic world of UK business. If you’re ready to cut through the noise […]