How Internal Audit Can Transform SACCOS
Internal audit is an independent, objective assurance and consulting activity designed to add value and improve the operations of an organization. It is an internal function that provides an organization with an independent and systematic evaluation of its risk management, control, and governance processes. Internal audit plays a crucial role in ensuring transparency, accountability, and […]
The Principle Guiding Taxation of SACCOs in Kenya
Kenya’s economy was growing rapidly before the COVID-19 pandemic. The government hasimplemented post-pandemic recovery measures to support the stabilization of businesses andgradual economic growth. The government has also diversified the economy to achieve dynamiceconomic growth. As such, improving the access to finance by all business has been a priorityaction by the government. SACCOS provide diversified […]
DOCTORS AND THEIR MONEY: BUSINESS SIDE OF HEALTHCARE
IS RUNNING YOUR HEALTHCARE PRACTICE STRESSFUL? Starting and running a healthcare practice can be a challenging and rewarding experience. Managing a healthcare practice requires balancing both medical care and business management tasks such as: workflow management, accounting and tax management, insurance claims and debt management and maintaining good relationships with patients and other healthcare providers.The […]
End-Year Procedures for SME’s; Critical Considerations
Are you a small business and you are in the verge of doing your closing period of the financials? Year-end closing is the process in which companies inspect and update their accounting records (“the books”) at the end of the fiscal year. This is the critical final step in the company’s annual financial reporting process. […]
Internal Audit and Corporate Governance
Internal Audit and Corporate Governance in Kenya The synergy of efficient and ethical corporate governance and internal audit function is not only vital but also fatal for shareholders and various stakeholders. This synergy compromise was recently echoed when a case of Flying Squad intercept Ksh.2 billion in a safe inside Barclays Bank Kenya, nevertheless, two […]
Finance Act 2022
On 21st June 2022, The President of the Republic of Kenya assented The Finance Act 2022 into law and was published by the Cabinet Secretary, Ministry of National Treasury on Thursday, 23rd June 2022. This Finance Act has introduced a raft of tax measures to amendment The Income Tax Act, Value Added Tax Act, Excise […]
Financial Governance for Family Business.
What does Financial Governance for Family Business entail? Below are the critical aspects of financial governance in family businesses. Financial Accountability – Accounting for all the Financial Transactions. It will entail maintaining clear records of all incomes of Family Business, Expenses, Business Assets, Liabilities, and Equity Contribution from Family Members. Family Business to Prepare Management […]
BUSINESS CONTINUITY IN FINANCIAL REPORTING
In light of the Novel Corona-Virus Pandemic, the future of most business functions continues to be uncertain. Corporate leaders are considering key issues around managing severe business shocks, recovery plans as well as keeping essential functions of the organization alive, majorly based on perspective.
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