Like many finance professionals, I began my career in audit. Here are five things that I learned from auditing and still use many years later.Continue reading “Five things I learned from auditing”
Because I was once an auditor, I have an obsession with useless controls. This is where an organisation makes you do something which they think is providing some kind of internal control. However, when you think about it in more depth, you realise it isn’t providing any control at all.
Some examples of useless controls
I had locked myself out of the online portal for an old pension scheme. I rang up and gave my account number. They asked for my full address as a security measure before they reset my account.Continue reading “Useless Controls”
I’ve written more generally about how to have a smooth year end accounts process. This is a more specific piece about how to build an audit-friendly year end accounts model.
I’ve included examples for download to illustrate the principles.Continue reading “Preparing a year end accounts model”
If you’re managing a finance team, at some point you (or someone in the team) will need to prepare some kind of year end accounts, also known as statutory accounts. I’ve been doing this for many years now and in this post I will share my observations about what makes for a smooth year end process.
The short version of this; planning in advance will always reap dividends. As you will see, most of my advice concerns things you can and should be doing well in advance of year end.Continue reading “A smooth year end accounts process”