Tax management is a perfect place to exploit the potentials of data analytics because tax involves examining transaction data. Data analytics can help the tax professional cut the time spent performing time-consuming manual processes. So, he can spend his time on analysis and delivering insights for tax management. It enables company leaders to find trends […]
Author Archives: James Etu
17
Oct
Oct
We are discussing common issue we find, as we apply data analytics tools to our audits, that suggest that Ghanaian businesses are not getting good returns from their investments in an accounting software. In part 1, we discussed observation on systems configuration. In this article we discuss security, information technology skills and data issue we […]
Accounting
Are Ghanaian Businesses Making The Most Of Their Accounting System Investments? (Part One)
09
Oct
Oct
We suspect that Ghanaian companies are probably not getting optimal returns from their accounting systems investment. The findings of our data team confirm our suspicions. In 2019, we made data analysis an essential part of our audit process, re-engineered our audit process and deployed data analytical tools such as MindBridge AI and CaseWare IDEA. On […]
17
Feb
Feb
Retailers, wholesalers, and manufacturers are typical businesses that hold inventory (stock). Inventory comes with risks such as damages, theft and obsolescence. It also ties up capital and has related administrative costs. You can lose money on inventory. But you don’t want to lose money so you must put in controls over inventory. The types of […]
14
Dec
Dec
There are forces at work to stop a business from achieving its objectives. To make sure it achieves its objectives, the business takes measures to stop those forces from negatively impacting the business. We call the forces that threaten the business, risk. The counter measures to stop these forces are controls. Effective internal control affects the […]
12
Sep
Sep
We have a crisis of confidence in audits in Ghana. That audits matter hit home when some banks failed, and the Bank of Ghana stepped in to rescue the weak banks. The public asked, “where were the auditors”? “Can we trust our auditors”? We are acting to make sure you can count on our audits. […]
20
Mar
Mar
An annual audit is required for all companies registered in Ghana. Each year, businesses of all shapes and sizes must hire an external auditor. And many struggle to make this decision. So, what must you consider as you search for an appropriate financial statement auditor? Let’s find out. Think about the following: The factors to […]
