Financial Management Support
Brendmo’s Financial Management Support is envisaged on understanding the need for the financial expertise without the expense of an “in-house” expert like an Chief Financial Officer especially to Small and Medium Sized entities. For such Brendmo assist entities to achieve their operational objectives through outsourcing the following CFO related services:
- Assistance with clearing of audit queries
- Policy and procedure design and implementation
- Analysis of Annual Financial Statements including performing reconciliations and preparing audit files
- Preparations and evaluation of budgets
Our internal audit service is designed to provide independent assurance that the companies risk management, governance and internal control processes are operating effectively.
The ability to manage emerging risks effectively is one of the main characteristics differentiating the ‘most effective’ organisations from the rest. The challenges and experiences of the last global economic crisis taught us that managing risk for any business remains a VITAL requirement. Thus, the need to demonstrate probity and efficient management of resources becomes critical. There are four ways an
organisation can deal with identified risks i.e. Accept, Transfer, Avoid or Mitigate.
The key to success lies in realising that risk is not something that should be avoided, more often than not, a risk also can represent an opportunity in disguise. As the adage goes “if it can’t be measured, it definitely can’t be managed”, we assist businesses with services across the challenging spheres of risk management:
- Risk identification and monitoring;
- Internal controls assessment; and
- Audit Committee report preparation and presentation
Where an organization does not have an in-house Internal Audit function, Brendmo Inc will assist in advising on critical business risks, implementation of effective controls and compliance processes, identifying better practices, reducing the cost of operations and realizing improvement opportunities.
Governance, regulatory and compliance issues continue to be complex business challenges. Increased accountability and potential exposure to liability means accounting authorities need to ensure that corporate governance standards are adhered to and that robust compliance management systems are in place.
Brendmo assist in assessing and making appropriate recommendations for improving the governance processes in accomplishment of the following objectives:
- Communicating risk and control information to appropriate areas of the organization
- Coordinating the activities of and communicating information among the board, external and internal auditors, and management
- Ensuring effective organizational performance management and accountability
- Promoting appropriate ethics and values within the organization.
Brendmo ensures effective implementation of governance practices by offering the following services to businesses;
- Corporate Governance Consulting and Reviews
- King IV Implementation and Assessments
- Board and Board Committees’ Assessments
- Board Empowerment and Training
- Audit Committee Advisory