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 … [Continue reading]
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 … [Continue reading]
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 … [Continue reading]
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 … [Continue reading]
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 … [Continue reading]
Write a Risk Register Like a Pro | a Practical Guide
One of the few challenges that new internal auditors face is in the area of writing a complete risk register. In this article, I will provide a practical guide on how to write a risk register like a pro. According to ISO 31000 – 2009, Risk is … [Continue reading]
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 … [Continue reading]
How to set KPIs for Internal Audit Function | Performance Measurement for Internal Audit Department
Setting smart KPIs (Key Performance Indicators) for internal audit department is one of the most challenging tasks I have recently faced as an Internal Audit professional. Internal audit department are quick to find weaknesses in business … [Continue reading]
Think Short Term Gains, Face Long Term Problems
I want to wrap up year 2020 with this article on the importance of thinking ahead and acting as if the world is about to end the next day (you may want to read this piece if you have not read it already - Stay focused, anticipate change). One mistake … [Continue reading]
No, Manager is not just a title | Manage does not mean bully
I wrote a piece in 2011 while still studying for my Master’s Degree in Accountancy from The University of Glasgow with the title ‘Who is a Manager?’ The article went viral then but am not sure it reached all its intended audience. How did I know … [Continue reading]
Internal Audit Functions during and after COVID 19 Pandemic
Internal audit functions have changed for good and will continue to change. So the earlier accountants working in internal audit departments understand this and prepare for it the better. Internal audit function was already undergoing some serious … [Continue reading]
WHAT GOT US HERE AS ACCOUNTANTS CANNOT TAKE US THERE
There is no gain saying that professions and organizations cannot survive todays challenges by simply doing what it has been doing in the past years, decades or even centuries. The world has moved on and to survive, organizations and individuals will … [Continue reading]
Evergreen Tips for Building Towards Retirement
This article on tips for building towards retirement is written as a result of the recent trend in the financial news. If you pay any attention to financial news, you’ve likely noticed the emphasis experts put on saving for retirement. While … [Continue reading]
Carbon footprints of Artificial Intelligence | why must we care?
Several recent researches have consistently found one thing – training artificial intelligence (AI) algorithm is energy consuming. The implication of these research findings is that carbon footprints of Artificial Intelligence (AI) and Machine … [Continue reading]
Anticipate change, lead with focus
‘Anticipate change, lead with focus’ is the theme of a seminar that I recently organized in my neighborhood. The information super highway time that we now live in is filled with too many noisy and dirty data that can easily sway feeble minded … [Continue reading]
How I learnt computer programming |coding as an accountant
This article on how I learnt computer programming as an accountant is a detailed account of my journey into the world of computer programming and technology. Before we delve into the ‘how I learnt to code’, I think it will be nice if I tell you ‘why … [Continue reading]
5 Tips for Running a Successful Startup
Perhaps you’ve just started a business and you’re ready to get to the next level, but you don’t want to make common mistakes other startup owners make. Running a successful business isn’t just about building a great product or service, it’s about … [Continue reading]
Smartest Investments for Millennials in 2019
Millennials get a bad rap for nearly everything, when the truth is this generation is a (generally!) hard working and savvy bunch. A lot of what you are dealing with has been handed down and - let’s face it - you are coming of age during a very … [Continue reading]
Succeeding in the midst of chaos | lesson from Dabbawalas
Forget about some technological buzzwords or those fancy business models that fly around in our day-to-day business meetings especially when the meeting involves business consultants. Technology or a fancy building layout will not make a business … [Continue reading]
Accountant view of China Belt and Road Initiative | should we all be worried?
For some time now, I have been closely following the developments in the China Belt and Road Initiative; to be frank with you, I am no longer comfortable with the feelings am having. As a professional accountant who understand some bankruptcy and … [Continue reading]
Business and politics | should business owners get involved in politics?
I resisted the temptation of putting my thoughts on the relationship between business and politics to paper for so long that I am beginning to feel guilty about so many mistakes that people now make about business and politics. Many business … [Continue reading]
