Inventory Controls to Prevent Waste and Theft
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…
Internal Control: The Means to Getting Hold of Your Business
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…
After the Crisis: Enhancing Our Audit Approach to Build Trust
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…
Choosing an auditor? What should you consider?
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?…
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