Policies are the backbone of every organization. Even start-up companies that don’t yet have formal policies follow long-standing, commonly accepted “rules” of individual and corporate behavior — implicit policies (e.g., the “Golden Rule”) that guide them. Yet, everyone has had to deal sooner or later with policies that are so poorly written that they’re without meaning and validity. In short, the Policies Become Unenforceable. Continue reading How Policies Become Unenforceable
96% of startups fail before they get to the ten-year mark, according to Inc.com. In most cases, their failure trickles down to one vital question; what could go wrong? Those who look for answers to this question early enough manage to protect their business from common risks and create the best atmosphere for its growth. Continue reading How to Use a Risk Assessment Matrix for Project Management
Writing procedures is an exercise in controlling compliance costs. You’re trying to comply with customer expectations, management objectives, government regulations, and/or industry standards, making compliance expensive. Regardless of the reason for compliance, wouldn’t you want to write as few procedures as possible if you could still conform to the compliance mandate and keep your compliance costs to a minimum? Continue reading How Do Procedures Reduce Compliance Costs?
At first, starting a new business and hiring international employees can be a challenge. When an organization has just been set up or intends to expand overseas, attracting and retaining the most suitable employees to work in foreign subsidiaries is among the challenges that the organization has to overcome. Do expat freelancers face difficulties working abroad? Continue reading Are You Starting a New Business and Hiring International Employees?
The US Securities and Exchange Commission (SEC) started making rules for the utilization of the International Financial Reporting Standards (IFRS) – essentially GAAP and IFRS convergence. The SEC developed a “road map” for the use of financial statements. AICPA has been instrumental in paving the way for the adoption of IFRS. Continue reading How Will IFRS Convergence Impact You?