Category Archives: Improve Company Governance

What are the Reasons Businesses Fail?

Most businesses fail. There are a whole host of reasons why, but it usually boils down to a lack of understanding of the basic rules of business.  This blog will look at some rules that most businesses ignore, but that can make or break the success of a business. What are the reasons businesses fail? Continue reading What are the Reasons Businesses Fail?

What Are Accounting Controls and Processes?

When you hear the phrase “internal control system required by Sarbanes-Oxley (SOX) Section 404?” do you automatically think of policies and procedures? Simply having accounting policies and procedures does not indicate an internal controls accounting system. Well-written accounting controls procedures that document well-defined accounting processes, however, are an important component of the control system you are building. Continue reading What Are Accounting Controls and Processes?

What Business Policies Does Every Company Need?

Your mission and vision drive your overall company policy, in which you lay out your overall company objectives that guide your strategic plan. From there come your sales and marketing plans, your operational plans, and so forth. You might think of your policies as a juncture of internal and external forces. Setting business policy is critical to a thriving company. What business policies does every company need? Continue reading What Business Policies Does Every Company Need?

What is a W-9 Form and Why would a business request one?

It’s a good practice to get a W-9 form whenever you engage an independent contractor. When you request a W-9 form, you are indicating to freelancers that you plan to keep your business dealings formal. What is a W9 Form and Why would a business request one? Continue reading What is a W-9 Form and Why would a business request one?

What are the Reasons and Outcomes of a DOT Compliance Review?

Passing the New Entrant Safety Audit isn’t the end of the road for your business; if there are any breaches, a Department of Transportation (DOT) compliance review is required. What are the reasons and outcomes of a DOT compliance review? Continue reading What are the Reasons and Outcomes of a DOT Compliance Review?

What are Nonprofit Goals, Policies and Procedures?

Nonprofits are a nationwide pillar of good deeds. Hundreds of thousands of people recognize the efforts of major nonprofits to make a lasting, positive impact on the world. Organizations such as the Red Cross draw international charitable donations for their efforts, while local nonprofits such as a food pantry or humane society make substantial impacts on our communities. What are nonprofit goals, policies and procedures? Continue reading What are Nonprofit Goals, Policies and Procedures?

Do Company Policies Exist If They’re Not Documented?

Process occur in each and every business. Some of your process are critical business processes that your company could not be in business without and others are less critical, but may be important. Understanding your risk is a major factor in your company governance, risk, and compliance program. How do you audit your process, demonstrate their effectiveness, and show that you have control when needed? Basically, do company policies exist if they’re not documented? Continue reading Do Company Policies Exist If They’re Not Documented?

What is an Employee Code of Conduct?

Your Employee Code of Conduct applies to all employees of your organization including officers, directors, and employees of the company and its subsidiaries and affiliates. Your Code of Conduct is a key governance best practice that guides your business policies, procedures, and practices. It is in the best interest of your company and its stakeholders that you adopt and implement a Business Code of Conduct to, among other things, help ensure compliance with standards, laws and regulations applicable to all business activities. So, what is an employee code of conduct? Continue reading What is an Employee Code of Conduct?