Observation is a key skill in business
Observation is one of the key skills that can be applied in any professional, occupation or relationship. Proper observation has been known to save marriages. There is such a thing called “obnosis”. This simply means to observe the obvious. So much of what we see is see through the filters of our upbringing, education, religion […]
New systems meltdown – the story of Mr Brown
Mr Brown awakes and rests on his elbow, scratching his bristled face. He can smell the stale coffee and cigarettes on his breath. One too many late nights having to catch up. The white cotton bed-sheets feel soft on his skin. He has to resist the urge to lie back down and close his eyes. […]
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 […]
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 […]
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 […]