Last year we published this blog, Fraud Deterrence for Small and Medium Enterprises (SMEs), tohighlight the common organizational fraud that SMEs experience. Billing schemes are one such type of fraud. What is a Billing Scheme? A billing scheme fraud occurs when by deception the organization makes a payment to an employee and record it as […]
Category Archives: Audit
19
Feb
Feb
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 […]
24
Mar
Mar
In 2019, the Ghana Revenue Authority (GRA) begun aggressively auditing companies. That posture will not change soon. Expect an tax audit at some point. The auditors approach the audit with an attitude – to raise the maximum amount of taxes. If you don’t know the law and don’t have enough documentation, you may end up […]
05
Dec
Dec
Financial statement audits have benefits beyond the audit report. Most businesses won’t get the benefits because they see the audit as a necessity to abide by the law, not to improve their business. Small and Medium Enterprises (SMEs) rarely have the skills they need to build sound accounting systems in-house. They need the benefits a […]
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. […]
26
Aug
Aug
“How much will the audit cost? It is a fair question, but our response will be, “to give you a quote we need to know a bit about your business.” So, what factors go into deciding how much the audit will cost? The auditor’s constraints Audit and accounting standards control the auditor’s work. Whichever approach […]
25
Jul
Jul
Introduction A business carries out several transactions in a year. How are auditors able to audit businesses and issue opinions? How do we perform financial statement audits? I’ll take you on a short tour of how auditors perform financial statement audits. Taking the time to understand how financial statement audits are performed helps you get […]
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 […]
25
Feb
Feb
Anxiety. Fear. Stress. These are common feelings people have when it’s time for an external audit. And I can understand those feelings. An audit puts people’s work under scrutiny, and some have had poor experiences with auditors in the past. Yes, some auditors are tough to love. But your fears and anxieties are often the […]
04
Dec
Dec
There’s no denying, an audit can be a hassle. But it doesn’t have to be. And yes, it can throw up the odd unpleasant surprise – but in reality, it shouldn’t. So, how can you take the surprises and the hassle out of your annual audit? It’s simple: Be prepared. Want to learn how? Read […]
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