Category Archives: 3 Controls

Rationale behind confirming payables to suppliers

Confirming sales receivables is something most company’s do regularly, either and this is depending on the volumes and the type of receivable one has, either in each month, twice a year or once a year. However, unfortunately I have to admit that confirming balances with suppliers is something that’s rarely done if at all. There’s the assertion I often hear that it’s the suppliers responsibility to confirm their receivables. Yes, it is, however it’s just as well important to understand your payables as a company.   Continue reading

Ensure that the assets recognized are in fact in use and assess their condition

Your company may own many or very few assets. Regardless, it’s important to know their condition, their operating capabilities and their actual usage. When you’ve ensured that the assets do exist, you have made the first essential step. The next step would be to assess their usefulness for the business and its operations.   Continue reading