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 […]

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 […]

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 […]

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 […]

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 […]

Bank reconciliation using Microsoft Excel IF function and COUNTIF function formulas How to perform bank reconciliation using Microsoft excel IF function and COUNTIF function formulas in order to improve efficiency is the theme of this post. I have written an earlier piece on the fundamentals of bank reconciliation statement. However, a lot of forensic accountants […]

Statistics has over time shown that fraud has no clear winner. All we have is collateral loss – the only winner in fraudulent situation is Waste! Fraud prevention strategies is the best bet that businesses have to ensure that the business always wins. The mistake that a lot of business leaders make is to think […]

One unfortunate thing about being poor is that it deprives an individual of so many privileges that seems to be exclusively reserved for the rich elites in the society. This is one of those posts where I simply express my displeasure to what the society has somehow seen to be normal. For some strange reason, […]

The fact that accountancy is the universal language of money means that politics cannot thrive without having people who fluently speak the language of money play a key part in the political economy. Accountants no matter how hard they try to keep away from being associated with politics can’t seem to run fast enough to […]

Unlike the job description for accountants that are fairly standardized, every company is free to set whatever they like and call it Internal auditor job description so long as it meets the company’s unique business need. However, there are internal audit roles and functions that must be included in the modern day business environment. In […]

Financial health check is a task that must be performed by every individual on a more regular basis if one truly desires to attain financial independence. Today in this piece, I will be focusing on tips for healthy finance that will not only help you be in good short term financial status but will also […]

This article on Accountants Vs Auditors is written specifically with young people who are at the point of making a choice in the world of noble accountancy profession in mind. Just a little background checks to make sure that I am qualified to write an article in this field as some serious career decisions might […]

I have spent reasonable part of my working career being a professional auditor (both internal and external). And this has made a lot of people ask me the following questions; ‘who is an auditor?’ and ‘how can I become an auditor?’. So, in this post, I will provide practical explanation to the question ‘who is […]

Today, I will be talking about the differences between mission statements, corporate objectives and business strategy. This article is part of the series on ‘what is strategy formulation’ where I also talked about how to build a profitable business model. You will agree with me that I couldn’t have possibly discussed all there is to […]

It is not enough for a fintech entrepreneur to have coding skills and brilliant ideas in order to succeed in business. Some form of business lessons needs to be picked up along the way. Uses of budget to fintech start-ups is not fully grasped by techie minded entrepreneurs as evidenced by a comment made by […]

In this post about what is strategy formulation, I will explain what a strategy formulation is in a simple language and also describe how to design a profitable business model. A lot has been written about strategic management and strategic planning. So, I will not be delving into those areas in this post. My focus […]

In this article on the basics of assets management for sustainable growth and development, I will be explaining in simple language how to manage the assets of your business in this technological age and beyond for optimal positive results. What is an Asset? Just for the purpose of this post, an asset is a resource […]

Functions and roles of the CFO (Chief Financial Officer) has long gone beyond preparation of financial statements. You will agree with me that finance is the live blood of every organization, and that a lot goes into ensuring that the finances keeps flowing. If the above is true, then the person who is to be […]

In this article on business growth obstacle and challenges, I will discuss why struggling businesses are not growing and probably will not grow. This article is a continuation of my previous post on how to successfully run a small business and small business lessons from royal families. 10 Business Growth Obstacles and Challenges Mediocre management […]

In this article on the symptoms and signs of overtrading, I will be talking about how to know when a business is overtrading especially in this technologically dependent world that we now live in. I would like to begin by firstly explaining what overtrading means in the next paragraph. What is Overtrading? Over trading is […]

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 […]