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6 Steps to Construct Your Internal Audit Program

The truth is, internal auditing is of the utmost importance for running a successful business. And, every effective compliance management system must include four control elements including: Board and management oversight; Response to consumer complaints; Compliance program; and Compliance audits. In order to manage compliance responsibilities and risks successfully, all of these four control elements […]

What is Internal Auditing and why does it Matter?

In general, people tend to underestimate the value of an internal audit program and what it means for running a successful company or any type of business. Regardless of the size of the company, managers should take internal auditing quite seriously if they want to take their business to the next level and ensure growth. […]

Why you Should Consider Grant Accounting

Is grant accounting worth it? Before I answer this question, I just wanted to let you know that we’ve collaborated with vast top-notch universities, hospitals, and many other large organizations for a long time in order to get the right answer to this question. From our discovery, we found that each of their departments encountered […]

How to Perform an Operational Review

In this article we will discuss how to implement an operational review correctly and the steps undertaken to implement it. Steps in Operational Review process This process essentially has six steps ranging from preceding work, conducting interviews and grouping documents to the presentation of the ultimate papers. Initial management meeting The management and department heads ought to be able to perceive the matter that helps them to spot specific areas of concern once the audit team meets them. Conduct Interviews More experienced personnel is required to interview and keep […]

Key Considerations of Risk Based Internal Audits

One of the top priorities of internal audits is to strengthen risk awareness, which means to provide more timely insights of risks. Risk identification is usually management’s responsibility, but internal audits have an essential supporting role by evaluating the organisational controls and processes in order to highlight critical risks which might get in the way […]

What are Operational Reviews!?

You should be aware of the fact that regular operational reviews are key to keeping your company at its best level of performance. In order to improve organizational performance, businesses need to constantly find new innovative ideas and solutions. With the everyday growing competition, good management and innovation can either make or break a company. […]

What is Management Reporting?

Management reporting systems, as the phrase suggests, captures all data by a company’s manager in order to run the business. For the smooth running of a business, data needs to be collected by using a management reporting system, especially the financial annual data reports. On the contrary, active management systems store very detailed data in […]

Tips on how to Improve your Financial Reporting Process

Production of informative financial reports for both internal leaders and external stakeholders is becoming more difficult each year. The data workload from several departments within a system is really increasing for the financial reporting personnel. Some of the areas with increased workload include data reconciliations, and consolidation of reports among others. Apart from the workload […]

5 Elements of an Effective Safety Management System

Every organisation, company, or business must take Workplace Health and Safety Management Systems (WHSMS) seriously. Why? An integrated WHSMS can drastically decrease the chance and consequence of incidents occurring. So, WHSMS are crucial for creating and maintaining a safe workplace environment. In order to do so, contact Latitude 12 – the ultimate Darwin-based agency providing […]

Why ERP Projects Fail

ERP (Enterprise Resource Planning) projects should be an important segment of every successful business. They will help you reduce cost and streamline processes while providing visibility in operations which is crucial for making sound and fast decisions. Hence, Enterprise Resource Planning projects are the ultimate business solutions. And, luckily to all business and company owners […]