Kampala 14th April 2020, President Y. K Museveni has announced the extension of the lockdown period for another three weeks or (21 days) up to 5th May 2020. And hopefully, by then the country shall be free of this pandemic and open on 6th May 2020. Without a vaccine yet, no one wants to take chances. The way the coronavirus has caused causalities in developed nations – specifically in the United States and Europe – Uganda’s President is right to err on the side of prevention through social distancing which has so far proved effective worldwide in reducing the fast…
From WhatsApp: An accountant and auditor at home
Quarantine effect on Auditors at home during Corona lockdown* I have realised our home & kitchen is the most mismanaged place. Following anomalies have been found, There is no stock ledger maintained. Procurement is not in line with provision factor. Purchase orders are placed verbally. Inventory maintenance is very poor. There are no budgeting documents. There is no indexing of products. No bin cards were displayed. No Annual, monthly or quarterly stock-taking has been carried out. No Inspection has been carried out for years. Most of the spoons and plates are of the wrong pattern and do not match with…
Ideas to improve your board performance
How do you improve the performance of your board? If your board members are not empowered to contribute to the board discussion, chances they will start missing the board meetings when called are high. Board members mostly add value during board meetings. Below are three ideas to improve the performance of your board. Give board members specific projects An effective board starts the board chairman or chairperson. A good board chairman understands the company’s strategy, the bylaws, the competitive landscape the future of the industry. The board must identify strategic projects and initiatives that the board must deliver during the…
How to empower your board to add value
Leadership is most needed during times of crisis, ambiguity, and worries due to uncertainty about the future. It is the leader’s role to provide clarity of the direction, communicate a clear roadmap to manage any crisis and remove uncertainty and ambiguity so that the team is calm focused. Timely communication aids board effectiveness People always look up to the leader for guidance when things are not moving in the right direction. Imagine driving in a taxi, and after three kilometers into the journey, you experience a car breakdown. Depending on the extent of the problem, a good driver will stop…
