Tag Archives: Management

MANAGEMENT’S RESPONSIBILITY

Throughout the audit of a set of financial statements, the phrase “management/director’s responsibility” appears. It is included in the engagement letter, the financial statements and the auditor’s report. But what does it mean? Management is responsible for the management of … Continue reading

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SEPARATING BUSINESS AND PERSONAL EXPENSES (PART 1): WHY IS IT NECESSARY?

Owners of part-time and small businesses e.g. multi-level marketers, estate agents, consultants and self-employed sole proprietors, often use one bank account for personal and business purposes, resulting in business and private expenses getting mixed up with each other. This can … Continue reading

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