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
What is Financial Instrument Risk?
Buyers and sellers may enter into sub-optimal financial or commodity instrument structures that have been standardized for efficient electronic trading. Conversely, buyers and sellers may enter into transactions where some trade terms were not anticipated due to shortcomings in the electronic communication means portraying the transaction.
As we start another year, we love to look back and make note of the audit tools and publications that were most popular with you all over the past 12 months. This year's Top 25 list has variety--we see some classics, some surprises, and a lot of content that should be useful for completing your audit projects throughout 2018 and beyond. Check out the full list and enjoy!
Settlement risk, in its simplest form, is the risk that one party won’t hold up their end in a transaction. There are several reasons this can occur, including time delay, system failure or default, and can also include risk associated with unexpected cost and/or administrative inconvenience.
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