Correct accounting not only involves numbers, charges and credits, balances, and financial statements; behind it is the work that will help us to make strategic decisions for each of the departments of the economic entity, depending directly on the needs…
The growing business complexity, together with the increase in regulatory requirements makes it more and more important for a company to continuously monitor its internal activities so that no chances of fraud are left within the business. To ensure all…
An audit of financial statements affects investors. It is carried out to establish their trust, to obtain information about the state of the business. Investors want to have all the information about the effective management of the internal control mechanism.…
An audit consists of the review, by an accounting expert, of the accounts of a company to prove, before third parties, the reasonableness of the veracity and reliability of its content. The most common audit is the one that is…
Accounting in one form or another has existed for a very long time and appeared around the time people began to engage in trade. This kind of accounting makes sense because if we want to conduct business in an organized…
Why Internal Audit of Logistic Area is Necessary? In Modern World, The Logistics area serves as the backbone of the companies and has a significant impact on the company’s business strategy which directly affects its operation and operational costs. Additionally,…
A vendor is a faction in the supply chain that makes goods and services accessible to organizations or consumers. The phrase “vendor” is habitually used to explain the entity that is paid for goods and services. Normally, vendor evaluation is…
Before accepting a new client, a chartered accountant firm in practice shall determine whether the acceptance would create any threats to compliance with the fundamental principles. This means that when accepting to take on a new client, the proper investigation…
The sales and collections cycle in a business refers to the set of processes that begin when a customer purchases goods or services and ends when business receives payment in full. As part of the year-end audit of your financial…
As per SA 501 “Audit Evidence – Specific Consideration for Selected Items”auditor is required to conduct Physical Inventory at least once a year. Due to coronavirus pandemic auditors could not attend Physical Inventory at the year end thus posing a…
