Which areas of your company do you audit?

From auditor to auditor: which areas of your company do you audit? The most common answers I’ve heard are two: a) the accounts that are related to money such as banks, petty cash, payments, purchases, etc. and b) the accounts that have a higher balance because when auditing them, a higher amount is being covered. [...]

Reviewing salaries, fairly

The simple increase in an employee’s salary is a delicate process called the salary (or pay) review. Salary reviews are usually conducted annually. It is a process whereby employers determine if the employees’ salaries are fair as well as ensuring that salaries are reflecting what the market is offering for similar positions. The process is [...]

Due diligence in FinTech, do you know what to check?

Chime, Coinbase, IZettle, MetroBank, Barion all are fintech companies…if carry out due diligence, do you know what to check? One key element is technology. Understand the fintech company business model is certainly important because the technology platform use can be unfamiliar for most of us. And the success of the product is linked to the [...]

Put it right in writing!

The audit has finished. Now is time to put it right in writing. And for some reason, although this step is the most important -in most cases-, auditors fail to do it right. The top mistakes detected: a) The vocabulary is too technical, not clear or the abbreviations used are excessive. Example: “The observation is [...]

How exposed is your company to climate risk?

Sea level rises, air, water and land pollution, deforestation, resource scarcity…how exposed is your company to climate risk? These factors are affecting any country's economic activity. It can affect companies indirectly or directly, such as the disruption of supply chains, raw material shortage, property damage, change of location of factories, etc. And at some point, [...]

How to manage the employees’ performance?

Have you ever wondered how to manage the employees’ performance? What should it be measured and how? The answer is to link individual performance to the goals and values of the company. And for this, competencies for each role in the company are needed. The benefits are that employees will know what is needed to [...]

Don’t let them burnout!

Have you thought about the mental health of your employees? Don’t let them burnout! It’s a fact: most highly engaged employees are exhausted. If this has happened in a normal environment take a moment to think how much this has increased with COVID-19. How to do it? Understand the workloads your employees have: what are [...]

Pay strategy: Relevance and effectiveness

For a pay strategy to be effective, it must be integrated with the company’s overall business strategy. Achieving this integration can be difficult. This is because a business strategy can be hard to specify. This makes it difficult to design a pay strategy, with the overall business strategy in mind. If the company has a [...]

The importance of coaching

Have you ever wonder about the importance of coaching? No, don’t think about sports; think about coaching in business. What happens when someone has a problem? Upon circumstances, either the direct boss or Human Resources takes care of it. When the problem is solved, everybody continues with their lives as usual. How to prevent that [...]

Are you sure your risk-based approach is effective?

Let’s see: are you sure that your risk-based approach is effective? If you haven’t updated it during the year…if only the Internal Audit talks about risks…or if the budget is not related to it…well, it’s clear: the risk-based approach is not effective. How can this be resolved? First think that the risk-based approach is a [...]