Stay Ahead of the Game: Understanding and Preventing Key Business Risks with Effective Risk Management
Risk management is an integral part of any successful business strategy. It involves identifying, assessing, and mitigating potential risks that could hinder the achievement of business objectives. By implementing effective risk management practices, businesses can stay ahead of the game and protect their assets, reputation, and bottom line. The Importance of Effective Risk Management Effective […]
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 […]
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 […]
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 […]
With Inflation and Recessions how can you feel safe about money?
There is a saying that goes “It will never happen to me”. There is another saying that goes “If you prepare for it, it usually doesn’t happen”. Lighthouse Consultants is built on this second saying. We deal with clients from all over the world who have said “I thought it would never happen to me” […]
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 […]