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Insight and Foresight Programme

With our experience of working with organisations of all sizes across many industry sectors we believe that the continued success of any organisation depends on the Management Team understanding the dynamics and interrelationship between five key areas.

  • Business Strategy
  • Finances
  • Product / service offering
  • People
  • Sales and Marketing

Our experience is that the day to day pressures of running a business makes it almost impossible to spend enough time ensuring the five areas above have enough strategic focus.

It is only with the help of experienced external resource that time is spent driving the business forward.

The Management Team knows the market better than anyone else with the exception of the competitors.

C.A.B. Consulting understand the business of running a business and the key areas to look out for in an organisation. Using an audit process the C.A.B. Consulting advisors will undertake the Insights Programme

 Business Synergy

There is great synergy of combining the Management Team's unique market knowledge and experience together with the business experience of the C.A.B. Consulting team and the excecution of the Insights Programme.

Running a business can be lonely and you can feel isolated - who challenges you? Who is there for you with no vested interest?

The C.A.B. Conculting team are not critical of the existing Management Team, we are complimentary.
 
The audit process employed through the Insight Programme will provide an unbiased situation analysis showing the issues which need to be addressed and identifying the opportunities which are available to the organisation.

The Insight Audit would take 5 days to undertake and to prepare the report, 2.5 days for the Business Strategy Audit and 2.5 days for the Financial Audit.


After the initial Insight project has been completed the C.A.B Consulting team can if required by the owner undertake a Foresight Programme, working with the business owner and management team to provide extra resource to help capitalise on opportunities or address issues identified during the Insight Audit.

 Areas covered during the Insight Business Strategy Audit

The objective of the strategic audit is to identify where the company is now, establish where the senior management want it to be and identify the steps that need to be taken to get there.

During the strategic audit we will look at:

What are the ambitions and objectives of the company?

What is the time period?

What resource is available?

 Which areas need more resource and  focus

Is the whole company pulling in the same direction?

Does everybody know where the company is going?

Are there regular meetings for the entire team to receive information and provide feedback? 

 

Internal issue - relevant to the organisation

Factors relating to products, pricing, profitability and gross margin, performance, quality , people, customers, marketing, infrastructure, Pareto principles with regards to products and customers.ABC analysis of customers, 

Factors tend to be in the present

External issues - relevant to the organisation

Factors relating to markets, competitors, seasonality , trends, technology, law, economics.

Factors tend to be in the future

 

What is working well in the organisation

Identify all the areas which are working well and can be built on

What isn't working well in the organisation

Identify the issues which are 'problems' withing the organisation and identify how they can be changed or removed

 Areas covered during the Insight Financial Audit

The list below shows the typibal areas we will look at during the financial audit, this is not an exhaustive list and will vary from client to client

 Management Accounting

What importance does the organisation place on Management Accounts (MA). Are the MAs prepared regularly in a timely manner. Are values compared to budget and prior year. Are MAs reviewed formally by senior managemen.Is a commentary provided with the MAs. 

Financial Accounting

Are full year management accounts reconciled to the full year statutory accounts. Are the annual statutory accounts audited by a firm of accountants.

Forecasting

Are regular cashflow forecasts prepared. Are budgets reforecast during the financial year.

Balance Sheet Audits – nominal ledger accounts

Fixed Assets

Are the Fixed Asset cost and depreciation values reconciled to a separate Fixed Asset Register. Is a regular physical review undertaken of selected material Fixed Assets assets to confirm location/existence and condition. Has the company revalued any Fixed Assets? How often are these revaluations reviewed. 

Balance Sheet Audits – nominal ledger accounts

Stock

What is the basis of valuation of Parts stock, Work in Progress and Finished Goods. Are perpetual stocktakes undertaken regularly?  How often. Are regular checks made on the accuracy of Stock valuations/standard costs by relation to latest costs from suppliers, including duty and freight?
 

Balance Sheet Audits – nominal ledger accounts

Trade Debtors

 

Are regular independent reviews made of Aged Debtors. Does the company take out Credit Insurance against bad debt. Are all customers periodically reviewed for their level of creditworthiness.

Bank Loans

 Are Bank and Loan reconciliations performed at least monthly.Are Bank and Loan reconciliations checked by someone independent of the person responsible for the Bank and Loan reconciliations.

Petty Cash

 Are Petty Cash reconciliations performed at least monthly. Are Petty Cash reconciliations checked by someone independent of the person responsible for the Petty Cash reconciliation. Are receipts required for all expenses le for the Petty Cash reconciliation

Trade Creditors and Hire Purchase

 Are all creditors and HP accounts reconciled each month and supported by supplier statements. Are all supplier payments independently authorised and supported by relevant evidence for paymen.

Employees

 Are personnel files securely kept for all employees. Does the company maintain an up-to-date Employee Handbook.
 Key Performance Indicators (KPIs)

 Does the Accounts department maintain a succinct list of KPIs to aid senior management of the health of the company’s finances, as required on a daily/weekly/monthly basis. How have KPIs been assessed for appropriateness.

 

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