This is going to be a relatively short post to give my opinion on a question that was raised in a recent debate I had with some of my professional colleagues in a small business gathering that we had last week in Lagos. It is always advisable start a discussion like this by making your […]
Archives for August 2021
Advantages and Disadvantages of Risk Based Internal Audit Approach
This article about advantages and disadvantages of risk based internal audit approach is written to answer a question asked by a reader of this accounting blog on my previous article on process of risk based audit. Brief Explanation of Risk Based Internal Audit I will not go into detailed explanation of what a risk based […]
Payroll Fundamentals in Nigeria | How to Compute PAYE in Microsoft Excel
This article on payroll fundamentals focusing on how to compute PAYE in Microsoft excel is based on the provisions of the recently enacted Finance Act 2020. If you are an HR personnel working in a small company in Nigeria where you still use excel to prepare payroll, then count yourself lucky as this article on […]
Work Place Security and Violence Management Fundamentals for Small Businesses
Work place security management and workplace violence management are two concepts that strangely sounds Greek to the ears of over 89% of small business owners and managers. This is an unfortunate reality as it goes a long way to show how SMEs value their most valued assets – employees. In this article, I will be […]
Fundamentals of Engagement Planning of Financial Statement Audit
The main objective of engagement planning is to draw early attention to things that could possibly go wrong during the audit of financial statements of an organization. The audit planning memo of Arthur Anderson dated February 6, 2001 revealed that the audit team assigned to Enron identified some serious red flags for possible fraud about […]
20 Reasons Why Most Fintech Start-Ups Fail
This article on 20 reasons why most Fintech Start-ups fail has been published in my discontinued blog. In as much as financial Technology (fintech) companies have in recent time shown signs of revolutionalizing the way we handle our daily finances does not remove the fact that majority fintech start-ups fail. There are a number of […]
Write a Risk Register Like a Pro | a Practical Guide
If you are struggling to write a Risk Register, this article on how to write a risk register like a pro is all that you need.
Why should I still keep my internal auditors? | Importance of internal audit department
Common questions on the lips of business owners in time of financial crisis are; why should I still keep my internal auditors? What are the importance of internal audit department? Is our internal audit department not an unnecessary overhead for our businesses? Internal audit is arguably one of the most important aspects of accountancy yet […]