Moving African Business with Information
Planning & Reporting
Once the internal control system is adequate, standard financial reports such as balance sheet, income statement will be generated without delay and correct.
To achieve the operational financial goals, critical processes have to be reported on at regular intervals. The operational chart flow will be used to identify these critical reports.
Another report which is a part of corporate governance is on the use of an external anonymous helpline with a related policy.
Any questions regarding business conduct and ethics will be reported to executive management and board of directors, which is another great way to signal areas of gray that can indicate that certain control functions are not working properly, need awareness or have not been covered at that moment.