Excerpts from the book...
11 practice Tips
from the book "Internal Control Strategies"
by Julie Harrer
The advice below includes quick ideas to help manage any project successfully.
Avoid Analysis Paralysis
Gathering and analyzing information before making decisions is a good practice. But there comes a time for action when a decision has to be made and an action plan developed. Over analyzing issues and putting off decisions will cause you to lose momentum. There is more time to analyze in the planning and documentation phases, but as the project nears its completion, decisions have to be made more quickly. While snap decisions are not optimal, analysis paralysis will have you missing deadlines and scrambling at year-end.
Keep it Simple
There often is no need for complex controls and solutions. Simplify when possible...
Any task that is repetitive can most likely be delegated. For example, it is not necessary for top level managers to hold meetings. Hosting meetings is a repetitive task that could be delegated to a middle manager. The planning, scheduling and preparing agendas for meetings can take several hours. Depending on the size of your department, the second, third or fourth person in command could be responsible for holding meetings. This person would still be “high” enough to know the issues that require discussion and could consult with you on the agenda to ensure all relevant topics are addressed. In addition, it might be a type of reward for an up-and-coming manager to display his or her leadership skills in front of an entire department...
See more excerpts from her new book...
Financial Services Offered
Whether you want full project management or help with a specific piece of your project, Hamlet Auditing can provide a practical, hands-on approach to complete your project on-time. Our methodology is based on the COSO framework but is tailored to fit the specific needs of each organization. Our Sarbanes-Oxley services include expertise in the following areas:
- Project Scoping
- Key Control Minimization
- Efficient process documentation
- Control Testing
- Remediation assistance
- Deficiency evaluations
- COSO Component Documentation and Testing
- Fraud Programs
- Meeting deadlines
Our Internal Audit function encompass a wide range of services from providing independent monitoring of your financial or operational systems to outlining process improvement plans with specific best practices. Services are always performed with our signature practical and efficient approach. Hamlet Auditing can provide services independently or can partner with your existing internal audit department.
Whether for a special project or as an ongoing function, Hamlet Auditing can supply accounting solutions for any size department. Our services are personalized to meet your specific objectives, but are always performed in an efficient and timely manner. We specialize in accounting services in the following areas:
- Accounting process implementation
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- Revenue Recognition Policies
- Interim Controller, VP of Finance or CFO
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- Pre-audit assistance and workpaper preparation