”The complexity of risk has changed, new risks have emerged, and both boards and executives have enhanced their awareness and oversight of enterprise risk management while asking for improved risk reporting.”
Bob Hirth, Chairman, Committee of Sponsoring Organizations of the Treadway Commission (COSO)
‘If the fight against climate change is not won in Africa, it cannot be won anywhere else.’
Akinwumi Adesina (President, African Development Bank)
“Don’t ever let your business get ahead of the financial side of your business. Accounting, accounting, accounting. Know your numbers.”
Tilman J. Fertitta
“Financial reporting is reflected by accrual accounting as this provides a better basis for assessing performance than cash receipts and payments.”
Becker Professional Education®
“Revenue is usually the largest amount in the statement of profit or loss so it is important that it is correctly stated. US studies have shown that over half of all financial statement frauds and requirements for restatements of previously published financial information involved revenue manipulation.”
BPP Learning Media
“The usefulness of the financial statements of a business entity may be seriously diminished if its publication is delayed too long after the reporting period. For this reason, various national and industry-specific legislation impose specific timelines for the filing of audited financial with tax authorities, industry regulators and the stock exchange.
Edem Affram, Founder, Synergia Business Solutions
The “informal” nature of many SME business structures is hindering them from growing into global brands.
Philip Oti-Mensah, CEO of Omnibank Ghana (culled from a speech delivered at the International SME Business Network)