Setting up a board of directors with independent directors takes a startup to another level—a level that will assure prospective investors of your young company’s commitment to its future, backed by accountability and oversight. The board can also provide financial discipline, strategic guidance, and fill in skills and expertise gaps to take the company further […]
Publicly traded companies will soon be subject to new disclosure requirements around how they manage their cybersecurity risk and strategy, and they’ll have a short window of time to disclose any material cybersecurity incidents that strike. Companies need to figure out now how they will comply with the new Securities and Exchange Commission disclosure requirements, […]
What does ‘success’ mean to you? Your definition of accomplishment is likely a bit different from that of the 41 people who currently hold the Guinness world record* – set at the Toyota Center Krasnoyarsk Zapad in Russia on May 16, 2015 – for fitting the most people in a car, a Toyota Rav 4. (Granted, […]
“We are drowning in information, while starving for wisdom. The world henceforth will be run by synthesizers, people able to put together the right information at the right time, think critically about it, and make important choices wisely.” ~ E. O. Wilson According to the most recently projected (ca. 2020) Statista estimates*, the world will see […]
Managing segregation of duties (SoD) is essential. This key internal control is necessary for reducing the risk of financial errors and fraud, but it’s also one of the most difficult to implement and maintain without a sound strategy. When the time comes for SoD reviews, particularly when an ERP system is involved, accounting organizations often […]
In a 2022 global survey of the Most Transparent Countries*, participants rated the 78 nations assessed according to several measures, including transparent business and government practices, well-distributed political power, and trust and corruption. Finland was ranked first — not surprising for a country with an annual practice of radical civic transparency, when on November 1st […]
Like many organizations nowadays, your business might be having trouble finding the right people to be able to thrive and grow: recruiting—and retaining—high-quality talent in today’s labor market is challenging. According to a recent comprehensive HR trends study by Gartner*, almost half of HR leaders surveyed reported that recruiting is a top priority for their […]
Keeping data safe is a key responsibility for everyone within a company—but perhaps especially in the financial organization, which deals with a company’s most sensitive data. Financial information in the wrong hands can, of course, financially harm a company and hurt its reputation. Data security in accounting is a regular, ongoing concern with risks that […]
Potentially messy and often time-consuming, any type of audit can be a distraction to the core finance and accounting team. Outsourced audit support services experts make the experience less onerous and less stressful, while preparing the company for the audit and being there throughout the entire process, as needed. By bringing in expertise they do […]
Startup corporate governance is not at the very top of every company’s priority list, and it’s understandable why: Developing the product, establishing a new brand, hiring employees, gaining traction in the marketplace often take precedence over establishing the innerworkings of the company—even though doing so can lead to improved efficiencies and minimize the risk of […]
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