Internal control is a critical framework that organizations use to safeguard their assets, ensure the accuracy of financial reporting, and promote operational efficiency. At its core, effective internal control helps prevent errors and fraud, fostering a culture of accountability and transparency.
“Materiality is a fundamental concept in auditing, representing the point of significance at which auditors assess the presence of material misstatements within financial statements. It assumes a pivotal role in the auditing process by guiding auditors in directing their scrutiny towards areas that wield a substantial influence on the overall integrity of financial statements.”
Inventory, often overlooked but crucial, represents a significant investment for businesses and plays a pivotal role in their financial well-being. This article delves into the world of inventory, examining its various forms and the critical importance of managing it effectively.
Auditors’ liabilities are legal claims made against auditors for losses suffered as a result of negligent or careless auditing. Legal claim can be made against auditor under two circumstances: CRIMINAL LIABILITY An auditor may be criminally liable under any of the following circumstances: CIVIL LIABILITY An auditor may face legal claims for losses suffered as …
Taxation is an essential aspect of any country’s economic system, and Nigeria is no exception. As a Nigerian taxpayer, it’s crucial to understand the various types of taxes, including withholding tax (WHT), which is a form of tax deduction at source. In this article, I will provide a basic overview of withholding tax in Nigeria, …
WITHHOLDING TAX IN NIGERIA: UNDERSTANDING THE BASICS OF TAX DEDUCTION AT SOURCE Read More »
The use of Artificial Intelligence (AI) has become increasingly prevalent in modern business. One of the most significant ways in which AI is being utilized is through the automation of business processes.
The integration of AI-powered business process automation (BPA) has revolutionized how organizations operate, increasing efficiency and productivity while reducing costs.
The Finance Bill is a proposed legislation introduced by the Nigerian government to make changes to the country’s tax laws and revenue collection processes. It’s a complex and ever-evolving issue, and the specifics of the bill can vary depending on the year and the specific proposals being considered. The bill which was passed by the …
āThe future is nowā has since become a commonly used phrase and its reality is not farfetched. The year 2022 further unraveled a lot of possibilities for businesses especially with the fast-paced evolution of technology. This article highlights key trends your business can take advantage of to increase its growth exponentially, in the coming year. …
2023 TECHNOLOGY TRENDS FOR EXPONENTIAL BUSINESS GROWTH: SPECIFIC AI TOOLS FOR YOU Read More »
Social media has become powerful workplace tool and can be used to improve professionalism and communication, recruitment, networking as well as a powerful marketing strategy.
āSkill acquisition & development can reduce unemployment, increase productivity, improve standards of living, and promote mastery in the chosen field. It goes as far as impacting the ambiance of nations and the citizens at largeā