How to protect your business with stronger financial controls | ApprovalMax + Xero

English - June 19, 2024 22:00 - 56 minutes - 38.7 MB - ★★★★★ - 1 rating
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Financial controls enable accountable growth by distributing responsibility across teams…

Today I’m speaking with:

Meena Berry, Senior Partnership Manager, Xero

Cassandra Scott, Head of Bookkeeping, ApprovalMax

Brendan Lucas, Head of Accounting, ApprovalMax

In this episode, we discuss:

- ApprovalMax & Xero survey results revealing many businesses lack key financial controls

- Stories of businesses defrauded due to inadequate internal verification processes

- How financial controls enable accountable growth by distributing responsibility across teams

- The importance of supplier verification and approval processes in mitigating fraud and non-compliance risks

- The role of audit trails, budget checks, and real-time alerts in enhancing financial oversight

- Case studies demonstrating how ApprovalMax and Xero streamline approval workflows

- The significance of continuously improving controls as businesses scale

Key takeaways:

- Revisit and continuously improve your financial controls

- Discuss the value of financial controls with clients

- Check E-invoicing capabilities in Xero and get registered

Contact details:

Accounting Apps newsletter: http://HeatherSmithAU.COM