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Division Career Tips, Company Culture, Executive Leadership, IT, Light Industrial Division, Professional Division, Real Estate Division June 17, 2017 Quality Assurance: A Necessary Ingredient for Internal Control Management’s ability to fulfill its financial reporting responsibilities often depends on the design and effectiveness of the processes and safeguards it has put in place over accounting. While no control system can absolutely assure that financial reports will never contain material errors or misstatements, companies must discuss how a quality assurance process can substantially reduce the risk of inaccuracies and can lead to an effective system of internal control over financial reporting. An increased focus on the adequacy of internal control systems by a wide variety of regulators is causing organizations to take a more systematic, risk-focused approach to managing their compliance efforts. A well-designed quality assurance program supports the process by which accounting judgments and estimates are made, and in turn the reliability of the financial reports. Considering the new standards on revenue recognition and lease accounting, it will become even more important for companies to have a robust system of controls. Most companies tend to have their upstream processes such as AP, AR, and fixed assets, covered, but it’s the downstream processes such as financial statements, footnotes, and MD&A that are often questioned. Below are general best practices to discuss internally when executing this strategy: A Quality Assurance (QA) program should be considered when an organization wants to minimize the risk/impact to Financial Reporting, Operations, and Reputation A risk based approach should be utilized when designing and implementing controls as well as establishing your QA program. Build effective relationships with Internal and External Auditors – leverage them as a “sounding board” QA Key Points: Be sure the individual(s) performing the QA are knowledgeable enough about the organization to identify when items should be questioned further or if the control was performed correctly As part of the QA review process, it is important to document the following: Key attributes or data points reviewed Items requiring additional follow-up Steps taken to address/resolve items requiring follow-up Timely resolution of items requiring additional follow-up Evidence to support the QA individual(s) review and approve the follow-up items have been resolved Include this information as part of the support to evidence the QA review occurred As part of the QA review process, it is also important the individual(s) performing the review validate the underlying data used to perform the control is complete and accurate. For example, the reviewer can inspect the parameters/filters used to obtain the data from a particular system for accuracy of the data that is included or excluded. Also, it’s worth mentioning that QA processes are needed at various levels of an organization, and if a company does not have resources, they should outsource competent QA resources. A good independent set of eyes can make all the difference with success in this endeavor.

Division Construction and Architecture, Engineering, Light Industrial Division, Professional Division, Real Estate Division, Smart Resources, Transport, Supply and Logistics February 17, 2015 From staffing to streamlining processes, today’s distribution centers face a number of challenges. Fortunately, InStaff is here to help. A leader in full-service recruiting, we pride ourselves on helping distribution centers maximize output. Here are some of our top strategies for distribution center success. Go green. These days, almost every industry is concerned with its carbon footprint, and distribution centers are no exception. To protect the environment, and your pocketbook, consider updating to more eco-friendly MDR conveyors. Along with using 30-60 percent less energy, MDR conveyors offer the added bonus of reducing noise levels in your facility. Measure velocity. Product velocity refers to a measure of mover speed at your distribution center. According to the experts, placing stock-keeping units in easy-to-access areas is essential to a distribution company’s success in the coming years. Additionally, you should keep ergonomics in mind to boost employee satisfaction rates at your business. Try cross-decking. Want to cut costs at your distribution center? Consider cross-decking, or moving goods straight from receiving to shipping. For best results, incorporate a receiving conveyor system into your warehouse. Conduct reporting. Looking for a less time-consuming way of assessing your current systems? At InStaff, we recommend that warehouses implement a software-based system of tracking performance. As a bonus, most of these programs allow you to track both employees and overall system function. Utilize automation. Checkweighers can have a significant impact on your warehouse’s quality control. Not only can you boost productivity by automating these systems, but you can also reduce the amount of time spent dealing with customer complaints about underweight or overweight packages. Consolidate vendors. While the economy is slowly recovering, many businesses are still looking for ways to save. By forming relationships with integrators, distribution companies have the opportunity to score the products they need at a lower price point. Automate wrapping. These days, customers expect to receive their orders in days instead of weeks. Automated pallet building and wrapping allow for speedier service with a reduced risk of product injury. Additionally, distribution centers that adopt this technology can reduce labor costs for their facilities. Automate printing. A long-time burden for distribution centers is printing and affixing labels before packages can be sent. With automated printing and labeling, your facility can enjoy improved accuracy rates on shipping with less manpower. Utilize multiple channels. Integrating your various distribution channels in one sitting is another great way for businesses to save. In addition to allowing for better inventory management, a multichannel approach lets companies cut costs while fulfilling orders more expediently. Look at outsourcing. Sick of handling all your distribution needs in-house? These days, many companies are outsourcing this role to another enterprise. This is a great option for businesses looking to save money while freeing themselves up to focus on other tasks.