"Solving the 2016 Dilemma Part One: E+T=+(E+P)"
Take advantage of lower levels of operational activity to grow capability within your team, motivate and retain staff. A capability assessment is a cost effective way to identify requirements and target issues that will save you money, reduce control risks and address staff development requirements.
Alternatively use the time to prepare for future audits. Cost recovery audits impact your bottom line hard as claims come straight off margins. This is an ideal opportunity to assess risks and prepare in advance documentation to preserve money and reputation.
“Big Oil still lacks a truly cost-conscious culture.”
"In the Accenture survey of 214 CFOs, 56% have strategic cost management performance objectives. But just 6% of finance chiefs say that cost management will be their top strategic priority in 2016."
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"World’s first management accounting standard is published"
"Audit firm to monitor oil companies’ financial records"