What would happen in your organisation if you stopped producing management accounts?
I’ve had to delay issuing management accounts a few of times in my professional career. (It’s funny, it feels scary even admitting that, such is the sacred status of the Month End Routine. It makes me feel like I’ve failed as a finance director.)
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.