For directors to make meaningful contributions in their oversight of management, they need to understand the business environment within which the company operates. They need access to focused information relevant to the strategic issues and business risks facing the organization. They can receive this information only through timely and candid two-way communication with management and other company personnel.
“All of the blame and none of the praise”
This was how one Human Resource professional described their job in a forum on tech recruiting recently. Human Resources (HR) can be a bit of a mine field full of potential hazards and risks while searching for that perfect candidate to fill a company’s needs.
This week, we are highlighting the Top 5 Pages on KnowledgeLeader from March! Take a look at the "best of the best" of our tools that could help you simplify your audit projects.
Fraud is the intentional perversion of truth in order to induce another to part with something of value or to surrender a legal right. In the business community, the ultimate goal of fraud is to gain money. There are numerous frauds within the business world.
In recent blog posts, we’ve discussed KPIs for various processes and even gave a concise description of what they are (see Guide to Managing Mergers and Acquisitions KPIs). In this post, we’ll be looking at KPIs again and this time it’s for Accounts Receivable (AR), Credit and Collections and we have a great document on KnowledgeLeader that goes more in-depth.
In case you missed them, these were the five most popular tools and publications on KnowledgeLeader in January:
What is Organizational Alignment Risk?
Organizational alignment is defined as a conscious and systematic coordination and alignment of three powerful and interrelated driving forces: organizational strategy, organizational culture and organizational infrastructure. Organizational alignment is to be mutually supportive and contribute as efficiently and effectively as possible to meet organizational goals and objectives.
What is Transaction Authenticity?
Transaction authenticity can be defined as the authentication of a party’s (individual, organization) identity, to ensure that pending transactions and contractual agreements are legal and enforceable.
Few things can be as fraught with stress and complication for top executives and business owners as evaluating mergers and acquisitions. Some mergers are consummated to capitalize on new geographic or demographic markets, expand product offerings, facilitate the acquisition of key employees, boost productivity, reduce competition by absorbing a rival company, or even more long term strategies. Whatever the reason, the process and outcome must be measured to determine if it was successful in meeting business objectives.
Budgeting is a systematic process for:
- Expressing future plans in formal quantitative terms
- Allocating resources to achieve strategic goals
- Monitoring progress toward goals
- Controlling spending
- Predicting cash flow and profits
- Serving as a vehicle for communicating plans in an orderly manner throughout the organization
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