Family Managed Business – Succession Planning
Thursday, 19 November 2020
Smart succession planning is key to the future of a family business. When handing the reins of a family business to the next generation, you need an actionable plan and even professional help to secure the future of your business. Succession planning is all about asking the right questions and preparing the next generation for
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Overcoming the Pitfalls of Poor Succession Planning in a Family Business.
Wednesday, 18 November 2020
Family Businesses are run with a vision for the future and a commitment to the success of the business. In this, family businesses are not very different from any other organization. But succession planning may not be as smooth for a family business as it is for others. Here’s a look at some challenges of succession
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Kreston OPR Newsletter: November 2020
Tuesday, 10 November 2020
Direct Taxation CBDT extends due date for filing Income Tax Returns and Tax Audit Report for the AY 20-21 The Central Board of Direct Taxes vide notification dated the 29th October, 2020 has extended the time-limit for furnishing of annual income tax return. Every person who has entered into an international transaction or specified domestic
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Family Managed Business – The Importance of a Family Charter
Monday, 26 October 2020
Family businesses have their own set of governing principles. These rules are adhered to by all the family members to manage the business and to drive it to achieve a common vision. Sustaining the business success, ensuring a smooth leadership transition wherever required, or managing shareholder changes – are delicate matters in a family business
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Risk-Based Internal Auditing
Tuesday, 20 October 2020
Internal auditing plays an important role in the corporate governance of an organization. Over the years, risk management has emerged as a significant aspect of internal control. Risk-based internal auditing is a concept that puts internal auditing’s work in context with the organization’s risk management framework. Risk-based internal auditing or RBI Aassures the management or
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Kreston OPR Newsletter: October 2020
Wednesday, 07 October 2020
Direct Taxation Faceless Appeals launched by CBDT as on 25.09.2020 – Honouring the Honest The Income Tax Department has launched the mechanism of Faceless Income Tax Appeals. Under Faceless Appeals, all Income Tax appeals will be finalized in a faceless manner under the faceless ecosystem with the exception of appeals relating to serious frauds, major
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The What & How of Artificial Intelligence in Internal Auditing
Monday, 28 September 2020
It would be safe to say that Internal Auditing in an organization is a line of defense. It helps identify preventable errors and omissions that can cause gaps in compliance, quality, finance, and other areas. Internal auditing looks into risk areas to track business progress and to ensure that the desired outcome was achieved in
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Use of Technology in Internal Audit Systems to Build Trust
Wednesday, 16 September 2020
As digital transformation sweeps into every industry, we find newer and more efficient solutions to every function in business. Companies are making the most of emerging technologies, data analytics, and the cloud to build new business models. A key element that defines the success of a business in the digital age is trust. Amidst transformations
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Cybersecurity is More Than Compliance
Tuesday, 06 August 2019
While the end goal of compliance and security is the same, it does not mean that compliance equals security. This article will cover reasons as to why compliance is a mere part of cybersecurity and what can be done to safe keep confidential data. Serving A Blueprint It is a mystery as to why a
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