How To Make Your Accounts as Clean as Possible
For a business in the current environment, healthy financial records are tantamount to its success. Taking the time to put your accounts information in the best possible order can be significantly beneficial for your day-to-day operations, to ensure your financial reports are accurate and to allow for higher-quality auditing. Whether your sector is juggling supply […]
Best Practises for Good Cyber Hygiene in the Era of Remote Working
SUMMARY: Remote work has saved Sydney commuters $5.6 billion There is greater risk of cyber security threats when working in an uncontrolled environment out-of-office. Poor cyber hygiene results in impact to profit and can damage your brand Tools, education and sound internal policies can be used to prevent breaches The idea of the ‘traditional workplace’ […]
Audit Update – Business Email Compromise And Payment Scams
In his 2019 report on audit quality and effectiveness, Sir Donald Brydon, the former chairman of the London Stock Exchange Group, described the question of fraud as “the most complex and misunderstood in relation to the auditor’s duties.” The prevention and detection of fraud within a company is primarily the responsibility of the management under […]
How Your Auditor Can Help Identify And Respond To Fraud
Corporate fraud is a risk to any business or not for profit regardless of the size, and for some it can be quite significant. A recent ACFE study reported that, across 2,504 cases from 125 countries, the net fraud losses exceeded $5 billion, with an average per case of $2 million. Not only can this […]
Best Practises For Data Governance For 2022
The start of a new year is a fantastic time to take stock of your existing framework and mark down areas for improvement. As we move into 2022, make implementing effective data governance strategy the top of your New Year’s Resolutions list. Establishing a plan to best handle your business data can not only help […]
The Great Australian Skills Shortage
The current Australian business environment is facing a number of significant challenges moving into 2022, both pandemic-related and otherwise. And one of the biggest hurdles is procuring, training, and retaining highly skilled staff. This is especially difficult during a period of historically low occupational mobility, with the rate at which employed staff are changing jobs […]
Managing Cyber-Security Challenges within a Work-From-Home Environment
The last eighteen months have seen the way businesses work change dramatically, with a shift to work-from-home environments taking centre stage. While this has been beneficial in protecting employees from risks around COVID-19, it’s crucial we examine the impacts this shift has had for cyber-security challenges. For auditors and accountants alike, nothing is more important […]
Navigating a Second Year of Auditing During COVID-19
When National Audits Group was established 15 years ago, no forecasting models could have ever predicted the events we’ve experienced since 2020. Whether it’s managing changes to COVID-19 disclosure notes in our clients’ financial reports, the impact of the work-from-home restrictions on our clients or obtaining financial information and our clients maintaining adequate internal controls […]
How an Over-Reliance on Technology May Lead to Dirty Data
Missing, duplicated or inaccurate customer and business information – otherwise known as ‘dirty data’ – can be one of the most frustrating challenges for accountants and advisors, particularly when providing assistance on end of year figures. Recent data from Experian found that 60 per cent of dirty data can be attributed to human error. A […]
The Future of the Financial Reporting Function
Article prepared by Associate Director, Danielle Nye, and published by ForAccountants.com Accounting firms are essential to businesses and not-for-profit organisations, particularly when managing one or more components of an entity’s financial operations. Most accounting firms, however, don’t have the skills to prepare statutory financial statements or the expertise to ensure an entity complies with the […]
