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The objective of the firm is to establish and maintain a system of quality control to provide it with reasonable assurance that: The firm and its personnel comply with professional standards and applicable legal and regulatory requirements; and Reports issued by the firm or engagement partners are appropriate in the circumstances.
The liquidation process can be defined as the process in which a company voluntarily proceeds to declare itself as being insolvent or where a creditor of the company brings an application to court in order to have the company declared insolvent. The result thereof is that the company may no longer proceed to operate its…
Only one director is required by law to sign the balance sheet on behalf of the board but, in the case of companies with shares traded on a market, it is quite common to see the balance sheet signed by two directors, for example, the Chairman and the Finance Director. To some extent this is…
Credit risk is the possibility of a loss resulting from a borrower’s failure to repay a loan or meet contractual obligations. Traditionally, it refers to the risk that a lender may not receive the owed principal and interest, which results in an interruption of cash flows and increased costs for collection. Excess cash flows may…
Credit limits serve a variety of purposes. Companies can use them as a guideline for order approval, to minimize the upward spiral of orders or to call immediate attention to a change in a customer’s purchasing or payment behaviour. Often the tendency is to let the credit limit simply become a matter of course, which…
One of the primary responsibilities of the HR department is to maintain employee records and regularly keep them updated. It is not just a good practice but it is also made mandatory by the law. These records help companies gather and analyze comprehensive information about their workforce at a micro as well as macro level….
A Will is essential BUT many people don’t draft one. This can lead to hardship. In this brief article we will follow the lives of an ordinary family of four, Greg (34 years old). Kate (30 years old. Cody (5 years old), and Lucy (3 years). We Will Illustrate 5 Reasons Why Having a Last…
The team at PATC, led by Gavin Bacon, can assist you with your Will. In most cases, the preparing of the Will is free – Ts and Cs apply. However, as a start, you find in this blog post a list of the main information that will be needed. Please feel free to contact us…
Here is a comprehensive list of the various funding schemes and grants that you can take advantage of. The role PATC will play: Only after you have gone through this list yourself, they must highlight to us which they think they might be able to benefit from. a. The list specifies what criteria you will…
1. DO NOT PANIC Avoid physical contact with other staff members and clients. Do not touch your face – use a tissue if you have to or toilet paper and then throw it in the dustbin. Recommend to clients that they either email or call or facetime or skype. Do not refuse a meeting, but…
