1. Know Your Customer: Sales are great but all the sales in the world are no good if customers simply can’t pay their invoices so make sure you know who you are dealing with before taking on a new customer: Credit References: Gather information about your customer’s payment history from credit references. This helps assess…
Read MoreBudget 2025 was announced by the Minister for Finance and the Minister for Public Expenditure and Reform yesterday afternoon. Against the back-drop of the ongoing cost of living crisis and an expected upcoming election, it’s clear that this budget attempted to give something to everyone. We have set out below a high-level summary of the…
Read MoreIn today’s blog, we will describe the role of a forensic accountant and the services provided by them. Forensicaccountants’ main role is to investigate financial discrepancies, fraud and financial irregularities. It can be said thatforensic accountants combine auditing and investigation skills. The main responsibilities of forensic accountantsinvolve: Investigation The daily work involves fraud investigations, business…
Read MoreThe Corporate Sustainability Reporting Directive (CSRD), also formerly known as the Non-Financial Disclosure Directive, is a new EU law that requires companies to report on the impact of their activities on the environment and society. It aims to improve and establish a consistent standard for companies reporting on sustainability in the EU, including aspects such…
Read MoreIn order to guarantee that the information your firm provides is correct and compliant, it is imperative that you prepare for an audit. Ten tips to get ready for an audit are as follows: 1) Understand the Audit Scope Clearly specify the audit scope to know which areas or procedures need to be looked at.…
Read MoreIn the last few years since the pandemic hit a new wave of investors have emerged and are giving the market a shot. A Charles Schwab study in 2021 found that 15% of all U.S. stock market investors got their start in 2020. As the market dipped and stocks became cheaper to buy the pandemic…
Read MoreIn today’s blog, we will discuss the ethics around financial reporting its conflicts and their resolutions. – Ethics has a significant role in the reporting of financial statements as statements are required to give a true and fair view of the state of the company at a certain period, for this to hold true requires…
Read MoreIn today’s blog, we are going to be discussing the key differences between internal and external audits. For this, we will be looking at them individually and highlighting the importance of both in businesses. Internal audit An internal audit is part of an organisation that will look at risk management and corporate governance procedures. It…
Read MoreA fraud audit is an examination of a companies’ financial information and internal controls that are in place to help prevent fraudulent activities. The goal of a fraud audit is to further assess the risk of fraud within a company and to put measures in place to detect fraudulent activities. This is not a traditional…
Read MoreAll the technological advances are changing the way financial transactions are managed and accounting records are maintained. One of the most important developments in recent years is the increasing adoption of blockchain and cryptocurrencies in accounting. – These technologies promise to revolutionize the financial industry and accounting consulting, improving security, transparency, and efficiency in the…
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