When a company is charged with financial statement fraud, the first question asked is “Where were the auditors?”
But auditors can only insure accurate financial reports in a robust business environment where every stakeholder has bought into the importance of internal control procedures and their documentation.
Creating an internal control integrated framework over subjective and complex accounting areas such as revenue recognition, loan impairment and valuation is especially challenging, and insufficient internal control procedures can leave an organization dangerously open to fraudulent financial reporting.
Insights: Accountability
Have you come to terms with the fact that accountability is the missing element to drive your team to excellence?
Law firms continue to base their entire business model on tracking billable hours. More often than not, clients feel they have little control of what a specific legal proceeding will cost. Why is it so hard for law firms to offer fixed deliverable-based pricing?
In the wake of the UK Parliament’s recent network security attack, it’s clear that no matter how well-designed our IT security systems and internal controls are, there’s always a risk of your organization falling victim to a cyber threat.
Few professional offices have to deal with as much information as law firms and remember so many critical things.
Headache-causing. Frustrating. Sluggish. These are some of the terms that go through our heads when trying to decode the complex regulatory requirements of Sarbanes-Oxley (SOX).
As the manager of a project or of a special company initiative, have you ever been in the position of realizing that nobody is taking the project seriously?
When employees join a new company or new team, they often face a difficult challenge. How to be accepted and begin contributing quickly?
Why do some of your employees get all tasks done on time and as expected, but others can’t seem to have the same success rate, even when those tasks are critical and are designed to avoid, transfer, or reduce risks to the business?
Is it their motivation? Their DNA? Is it compensation? Is it culture?
We have put together a succinct infographic to help our clients drive accountability in the workplace by avoiding the following issues when using task management and/or accountability software.