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 … [Continue reading]
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 … [Continue reading]
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 … [Continue reading]
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 … [Continue reading]
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 … [Continue reading]
Bank reconciliation using Microsoft Excel IF function and COUNTIF function formulas
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 … [Continue reading]
Fraud prevention strategies | 21 most effective ways of preventing fraud
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 … [Continue reading]
Psychology of poverty | Avoid Poverty to Embrace Wealth
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 … [Continue reading]
Accounting and Politics | Role of Accountants in Political Economy
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 … [Continue reading]
Internal Auditor Job Description | Internal Audit Roles and Functions
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 … [Continue reading]
Financial health check | Tips for Healthy Finance
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 … [Continue reading]
Accountants vs Auditors | Should I become an Accountant or an Auditor?
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 … [Continue reading]
Who is an auditor? | How can I become an auditor?
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 … [Continue reading]
What are the differences between mission statement, corporate objectives and business strategy? | Tabulated.
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 … [Continue reading]
10 Uses of Budget to Fintech Start-Ups
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 … [Continue reading]
WHAT IS STRATEGY FORMULATION? | HOW TO DESIGN A PROFITABLE BUSINESS MODEL
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 … [Continue reading]
Basics of Assets Management for Sustainable Growth and Development
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 … [Continue reading]
10 Functions and roles of CFO | successful businesses have progressive CFOs
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 … [Continue reading]
Business Growth Obstacles and Challenges | Why Businesses are not Growing
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 … [Continue reading]
Symptoms and Signs of Overtrading | How to Know When a Business is Overtrading
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 … [Continue reading]
Street Wise Accountant Vs Chartered Accountant | which is better?
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 … [Continue reading]
