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.…
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…