Journal entries are the foundational building block that makes accounting what it is today – the language of business. Business managers are faced with tough decisions on a daily basis ranging from making long term capital investment to making recurring operational expenses. Without journal entries, getting the information to aid decision makers perform their jobs […]
Archives for April 2022
Audit process | What is analytical procedure in audit?
Audit is all about giving opinion that is backed up by relevant adequate audit evidence. Sufficient audit evidence doesn’t just appear out of thin air; analytical procedure is one of the many veritable audit evidence gathering techniques that an auditor uses. Analytical procedure is a type of substantive procedure that auditors carry out during the […]
Share this:
What is ISO 27001? | Information Security Management guide for small businesses and Fintech Startups
As a careered Internal Auditor and an IS/IT auditor, I can tell you with high level of assurance that many Fintech start-ups fail because of so many reasons but one of the main reasons for Fintech start-ups failure is the fact that they take their information security management responsibilities very lightly. Most people that are […]
Share this:
How to select and design test of controls in internal auditing
An organization should have controls in place that operates with the sole aim of preventing, detecting and correcting accounting misstatements caused by either accounting fraud or errors. It is our job as internal auditors to test those controls in order for us to make recommendations for improvements. Business organizations make significant investments into setting up […]
Share this:
Studying accountancy can take you far | just be a future ready accountant
This article is written to not only give assurance to students who are planning to study accountancy but to also provide some tips of what they must do to stand out from the crowd. I overheard two teenagers during the just concluded Easter holidays having conversation about what course to study at the university and […]
Share this:
How to perform AIS Audit | Accounting information systems auditing Basics
I have been getting a lot of requests from my readers and followers asking questions on how to audit an AIS (Accounting Information Systems). In my continuous bid to share knowledge from my many years of experience in accounting, finance, internal audit, systems development and IT/IS audit, I have decided to compile the various answers […]
