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CLICK TO THE MAIN PAGE ON ALL ARTICLES ON OUTSOURCING It’s crucial to maintain certain performance metric so that the company can measure the efficiency of the accounting and bookkeeping services provided by the outsourced providers. The key performance metric can be demarcated into the different areas if the functions are being outsourced:
Transactions Processing: CLICK TO THE MAIN PAGE FOR ALL ARTICLES ON OUTSOURCING When a company outsourced its bookkeeping and accounting function to an external outsourced provider, the management need to understand how to institute controls to check on them. Therefore, the Finance Coordinator who is in charge of the outsourcing needs to institute certain minimum control points. Some of the control points on accounting and bookkeeping external outsourced provider are as follows: · Timeframe on the audit of the bookkeeping and accounting service provider- twice or at least once a year, CLICK TO THE MAIN PAGE ON ALL ARTICLES ON OUTSOURCING In my earlier article, I mentioned about some dinosaur functions in the Accounting & Bookkeeping function. I further elaborated on share service centre and outsourcing which can take away the livelihood of the accounting staff. This is because in a big group of companies, the Group CFO is [...] |
FCCA,CA(MIA)with more than 26 years of post-qualifying working experiences. Previous working stints with one of the big accounting four, Regional GFC & Group Treasurer in a group of Malaysian and Group CFO in Singapore public listed concern.
Also author to another very popular free educational accounting cum finance blog: http://basiccollegeaccounting.com under the branding of College Accounting Coach. |
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