Financing is an important element of each business. The law requires that accounting books are kept, taxes are calculated, employees are paid. On the other hand, persons responsible for management need information on the basis of which the decisions are made and they expect to get such information from financial departments in their companies.
If the level of the structure, information flow, efficiency and accuracy of the data is good, we can say that finances are friendly.
If there are irregularities in the functioning of finances, serious risks start to occur in an organisation, which have an impact on the entity’s operation.