Self-Audits - Staying on Top of Important Trends in your Business

Busy leaders need to focus on the needs of customers, prospects, employees, regulators, suppliers and so on. However, we encourage these leaders to also take an active interest in the FINANCIAL health of their business.

Conducting a periodic self-audit or financial health check helps identify areas for improvement and ensures the business remains on track towards the financial goals. 

Here are some important topics to cover in a self-audit.

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6 Ways to Improve Cash Flow by Managing Receivables (Collections)

All businesses should carefully monitor their cash position.  

Healthy cash reserves enable investment in growth, allow distributions to owners or - for some businesses - can be a matter of survival. In any case, cash management is critical.

One way to improve the cash position is to carefully manage Accounts Receivable (or collections). Here are some Best Practices which can positively impact the cash position.  

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9 Ways to Strengthen Financial Controls in a Remote Work Environment

Employing remote workers presents additional challenges related to financial controls. 

Managers and employees may not believe they are at risk but studies by the Association of Certified Fraud Examiners show companies with fewer than 100 employees are more likely to lose money to fraud. 

Leaders need to demonstrate the importance of improving financial security and minimising risk. Here are measures they can take.

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Using KPIs to Drive Management Decisions

Key Performance Indicators (KPI‘s)  are important management tools and we encourage business leaders to use KPI’s in their businesses.

What is a KPI?

A KPI is quantifiable measurement or metric which helps track the progress towards business goals. Leaders use KPI’s to make better, data-driven decisions. They also guide behavior, productivity and decision-making, while providing transparency and accountability.

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Crisis Management - An Overview for Leaders

As Accountants, we hope our Clients never face a business crisis… but we also know that business is unpredictable and factors beyond our control can leave a business in dire straits. 

Even the largest, well-funded, most successful organizations can face a crisis… and most will rise to the occasion and emerge stronger. 

Let’s look at what leaders can do to reduce risk and properly deal with a business crisis.

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