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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 […]

The anatomy of an audit part two

Internal audit

Understand the business When going into the area to be audited it is important to understand the business landscape. Sometimes there are past audit files but, no matter, it is vital to flow-chart the current processes and activities in the area. This we call a process narrative whereby all process and activities, as well as […]

The anatomy of an audit part one

The anatomy of an internal audit

The three P’sPlanning, 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 […]

How do you get assurance that Client money is being properly managed?

CASS Client Money Account audits

In the fast-paced world of finance, the assurance of client money protection is of utmost importance. This is where CASS client money account audits come into play. With these audits, financial institutions can demonstrate their compliance with rigorous regulatory requirements and showcase their commitment to safeguarding client funds. Lighthouse Consultants has experience of performing these […]

Our success in finding solutions to common business problems.

Business advisors and auditors

Last year, we had an interesting project where we assisted a struggling company with their accounting system. The main issue was that there were numerous errors in the data that had been entered into the system. As is typical for many companies, they started to prepare journals at year-end to correct these errors in the […]

Benefits of Proactive Risk Management

Risk management

Proactive risk management offers several benefits for businesses, including: Enhanced Decision-Making: By identifying and assessing potential risks, businesses can make more informed and strategic decisions. Proactive risk management provides a comprehensive view of the potential risks and rewards associated with various business activities. Financial Protection: Effective risk management helps businesses protect their financial assets and […]

Finance systems in a mess, what do you do?

Financial accounting review

It is interesting to see how complex systems within a business can get and when you start making adjustments and journals or applying add-ons this just adds to the complexity. You start with a system and this works well in the beginning. Then without proper training the staff start using the system in weird and […]

Observation is a key skill in business

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

Change management

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 and compliance

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 […]