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It could be said that the audit report is the most important aspect of the entire work process. You may have selected the correct area, evaluated the results effectively, analysed in depth the controls and recorded results elegantly in referenced work; but if the report does not reflect this excellence, you will not get the desired success. The internal audit report is perhaps the only tangible product that management can see in the work of this department.If you want to significantly improve the quality of your reports, apply the following tips:

1: Be Brief

The Brevity is probably the main key factor or characteristic of an excellent report. Brevity is not only about the number of pages to include in the report, but also to present only those aspects that are crucial for the user using the fewest words possible.

2: Highlight the Main Message

Readers prefer that the main message is placed first, and then read the reviews, details and explanations that support the main message. Studies on comprehensive reading support the basic principle of placing the main message first. These studies show that users absorb more information and better remember the details when the key message leads writing. The structure of the report should be developed intentionally and openly to push the main message forward.

3: Divide the Report Sections

Many users do not read the full report. They jump and fly to certain sections of the report, seeking the information they need. The high-level users read the opinion (or conclusion) and stop there. Depending on the severity of the issues, the manager`s responsible for the area under review, the opinion, observation posts and recommendations - but could not read the comments completely.Readers are selective, so we should not view the reports as a continuous text, but as a series of layers or sections. Each section allows the reader to delve into more details and explanations, depending on your needs. A high-level message must lead each section. Then continue the supportive comments, summary`s and details.

4: Present a Clear Conclusion

This is essential. You need to ensure that the reader clearly understands what you think about the effectiveness and efficiency of the area under review. The need to develop a statement of opinion and being concise is the best way to achieve this goal.The findings may relate to the whole area of work or only certain aspects. They may cover issues such as determining whether the goals and objectives of programs and operations are consistent with those of the organisation. The opinion may include an overall assessment of controls or may be limited to certain controls or aspects evaluated during the internal audit work. For more expert advice on this, you can speak to an accountant today, Your Virtual Office London work with experienced and qualified accountants who are able to help with such important matters.

5: Effective following up on corrective actions

A draft internal audit does not end until the recommendations are implemented.The internal audit activity can be monitored effectively by receiving and evaluating:

• The management responses and the proposed observations and recommendations during the engagement or within a reasonable time after communication of the results. The answers are more useful if they include sufficient information to evaluate the adequacy and timeliness of the proposed actions.
• Periodic updates from management in order to evaluate their efforts to correct the observations and implement the recommendations.
• Information from other organisational units that are assigned responsibility for monitoring or corrective action.

In this guide, we take you step by step through the simple process of changing your limited company's name.Before filing a request to change the name:You first have to get permission to make changes before submitting the application to allow the change. A special resolution has to be passed, whereby all shareholders accept the change of name. This resolution is an effective way to formalise the approval of all those involved in varying degrees.1: You can customise and use the new name of the shareholder meeting to approve the name change. If you're a private company, it is necessary to organise a meeting of shareholders to approve the new name.2: After approval of the new name, change the name of the application you are ready to fill in and send it to Companies House. However, the implementation of this method takes a week or more.Instead, most companies now choose to apply directly online using simple dedicated solutions. Approval in general, just three hours on the Internet, the files can be obtained via Companies House. In just 3 simple steps you can complete and send the application directly, using the company's name change:3: Online applications are much faster and more reliable than the using Companies House via paper form. It varies depending on the number of applications received by Companies House at the time though - usually it can take just 3-5 hours for approval. This is to change the name of the company once the application is completed. Just remember to check the details before pressing "submit"!Getting started is easy. Just register for free, and then on the screen follow the instructions to complete the process of setting up your company. Changing this information is as easy as 1-2-3!Your Virtual Office London are a leading virtual office and company formation agent located in the heart of London, our services are designed for small businesses and new start up fledglings. Our wide ranging products have been expertly produced to help maximise the businesses chances of success in its early years of trading. Utilising our virtual office service can really help boost the chances of first year survival. Our corporate virtual mail forwarding address presents a professional image to your client, through use of a prestigious mailing address.A virtual office is a cost effective way of having a corporate address in London without the associated high costs of renting an office address. If you would like to find out more about our services please feel free to email or call our team, we are always happy to help.

If you've just set up your business, you should hold a board meeting of the new limited company. It is generally considered best to do this within a month of forming the company. As in all meetings of the board, you should produce the board minutes of the first meeting between the directors.The first meeting of directors should allow those present to discuss new commitments referred to in the Memorandum and Articles of Association. While there will be some similarities, the issues discussed at the first meeting of the board will vary between different companies. The following list, however, contains a number of issues discussed at a typical first meeting of directors:

• Appointment of Chairman
• The details of the formation of the company
• Disclosure by directors of the Company of any interest in contracts
• Appoint auditors
• Appointment of bankers of the Company
• Specify the date of the accounts
• Details of the initial capital of the company and the registration of members
• Register with HMRC VAT, payroll, etc.
• Other items of interest to the company
• Arrangements for the next meeting of the directors

It is a legal requirement to record what was discussed at the meeting and it is required as a formal record written over time. This document is the first minutes of the directors meeting.Although we must adapt our model of the meeting minutes to match the original contents of the first meeting of the board, you'll have a good idea of the kind of things that should be included in the following documents for minutes.

Minutes of the first meeting of the board

A copy of the minutes will be distributed to each of the directors present at the same meeting. Depending on the precise content of the meeting, there may be documents that must be filed with Companies House.You must be available for inspection at the registered office of the company (or single alternative inspection location if selected).Going forward, you should also make arrangements for the regular meetings of directors and for writing files, which will be generated for each meeting.Your Virtual Office London are experts in company formations, we offer specialist services for small businesses in the UK, Europe and the Rest of the World. Our services comprise of creating a London corporate business image, through prestigious mail forwarding services and business class call handling. Your Virtual Office London also provide other services such as fast track Barclay's business banking, company accounting and website design services for small companies. We have an experienced team on hand ready to take your calls, if you enjoyed our blog post you can find more interesting articles on our blog page.

When setting up a company with family or friends, it is easy to assume that in the future nothing can go wrong. We hope that in the future nothing can go wrong. However, family members and friends fall out, and if the worst should happen, you may end up with nothing.Therefore, you should focus on the business of the company in order to protect your own investment and consider the introduction of a shareholders agreement.As you might expect from an agreement between the shareholders of the company, it`s important to establish a reasonable relationship between the shareholders for its purpose, to help protect the investments of the company's shareholders.

The agreement will be:

• Sort out the rights and duties of shareholders.
• Control the company's shares.
• Describe how the company operates.
• Protect minority shareholders of the Company.

Without the agreement, minority shareholders (less than 50% of shares) will not have much control or say on how the company is run. There are laws that provide limited protection of minority shareholders, but it can be expensive to implement and would not achieve the desired compensation.A majority shareholder who wants to sell their shares may come up against a minority shareholder who doesn't agree. Therefore, the majority shareholder can force minority shareholders to sell their shares, known as a ‘drag along`. This is an important arrangement, but of course, the sales price and other fees for all shareholders, including minority shareholders, have to be fair.It is always a good idea to put together a shareholder agreement as early as possible, usually close to the formation of the company to avoid confusion. For everyone on board to have a shared understanding can really make all the difference further down the line.Your Virtual Office London are experienced company formation agents. We have been forming companies for over 40 years and have a vast amount of industry experience when it comes to the more intricate parts of limited companies and the best way to run them. A shareholders agreement is a very important document and we are able to help assist in the formation of a company and the creation of such mentioned agreements.

Some companies have been inactive since the day they were formed. Many companies, however, will actively pursue activities for a while, but not the trade side - at least for a period. These businesses may be eligible to become dormant. This is a status where the responsibilities of the current company presentation will be reduced. To become inactive, there are first some things that the company will have to do. First, however, it is worth thinking if it's right to make your company dormant.You should also be sure that the best option is not only to dissolve the company. If you are sure that you will not trade again in the future, there is usually little benefit in keeping the company in existence. While latency can greatly reduce the effort and cost involved in maintaining the business, there will still be some time and expenses required.

What should I do for my business to become dormant?

• Pay outstanding bills and cancel others. These prospective business contracts may, for example, include the rental of buildings and equipment, insurance, utilities, telephone and Internet services used previously.
• Reconciling the amounts received as a result of the customers. All payments to be made to customers to deliver products and services.
• Pay the VAT due to HMRC and (usually) cancel the VAT registration of the company.
• Reconcile wages owed to employees and close the scheme company payroll.

While sifting through all documents and data can be time consuming, it is important to, because if you choose to continue paying for utilities or insurance, the company is still active in the eyes of HMRC, so be careful what you choose to delete or shred.

How do I tell HMRC my company is now inactive?

To confirm with HMRC, you should contact your Local Tax Office, indicating the date on which the company has been, or will be, inactive.HMRC then go to their head office with a "Notice to a provider of Declaration." This refers to the duration of activity immediately before the company became dormant. You must complete and file the return and pay any tax due.HMRC will normally confirm in writing within three weeks. From the date your company is dormant, HMRC stop treating your business as active - this means that you will not receive a lot of correspondence from them and in most cases, you will not need to, until the re-trading of the company (if you choose to) begins.

Do you need to inform Companies House?

You do not have to tell Companies House that your business is inactive until it is time to establish your accounts to them. Remember, the full accounts for the period must be presented as usual.For the first full year for which the company is inactive, you need to present the simplified accounts within 9 months of the accounting reference date. This can greatly reduce the administration and preservation of the company and is the reason many people make their business inactive.On a continuous basis, dormant companies must remain a number of other Companies House filing requirements, including:

• The annual return, which differs from the accounts, but must still be submitted.
• When a new director or secretary of the company was appointed or terminated an appropriate form needs to be sent off.
• The changes in the registered office of the Company or, if available, a SAIL address should be submitted on the form.

What if the dormant company will be active again?

Most dormant companies will become active again at some point in their lives. If your company is (for example, starting with trade), then you must notify actively within three months. The easiest way is to contact HMRC and inform them that the company is now active. There is also an online registration service of HMRCYour Virtual Office London are leaders in company formation and professional services since 1971.

Public liability insurance is crucial for business owners who own or rent retail space to have. This is because customers, suppliers or other people, including members of the public will frequently visit your premise and it is especially important if you or your employees have direct contact with them while on the job.If they are injured or if the property is damaged as a result of your business activities, then claims can be made, even if passers-by are affected.Public liability claims against your business can be made by members of the public as a result of a range of accidents in a variety of places such as:

• Your business premises;
• If you operate your business from your home;
• A customer's home or their place of work;
• An off-site event or activity organised by your business.

If the insurance for your business is found to be responsible, to which members of the public claim compensation for any damage, injury or death, then you will be covered for certain aspects of your business. These include:

• Loss of earnings;
• Correcting any damaged or broken goods;
• Their medical fees for injuries;
• Your legal costs.

This more than any claim by you or your business will need to pay the total amount payable by the insurer under the policy, and will be limited to a set amount.Public liability insurance for your employees, such as any death, injury or loss does not cover your business. The premises however, are covered by employers' liability insurance.

Examples of public liability claims that may arise:

Trips, slips and falls are the most common claims for compensation, but such claims may have to factor in other events too. The public liability claims against your business can be witnessed in events from the following examples:

• A customer in your store trips over a box, which causes injury and they are left lying on the floor;
• Your employee causes injury to a customer by spilling a drink on them;
• Someone slips on a handrail and falls down some stairs;
• Trips from repairs being carried out, such as exposed piping, carpentry work etc.
• Trip hazards from tiles coming off the floor;
• Tiles from the roof being unstable and causing injury;
• Your electrics are wired incorrectly and they cause a fire in a customer's home;
• A customer suffers from food poisoning after eating at your restaurant.

If you are starting a business Your Virtual Office London can help you get off on the right footing. We provide professional business services to small and start up businesses, our services include mail forwarding, virtual office, telephone answering, company formations and accountancy services. We aim to provide a wide range of diversified services which are vital to most small businesses. Your Virtual Office London have been providing important corporate services for over 40 years and are leaders in the business support industry. If you are interested in finding out more about our services please do get in touch with us today.

Whitbread has experienced a large sales growth in the first half of 2014. Strong figures from Costa Coffee and Premier Inn have helped Whitbread see a huge rise of 12.8% in new sales.Costa Coffee saw a large increase in sales up 7.3%, Premier Inn also saw a large jump to 9.2% increase in the first half of the year.Premier Inn has increased its market share; total occupancy has hit a new record high for the company and is looking to open 4,500 new rooms in the coming year.Costa is also on the expansions radar, it is looking to open 76 new Cota stores inside the UK and a further 300 stores worldwide. Global sales were up 15.3% which in monetary terms is £602.4 million.

Having a online success in business is difficult nowadays, but not impossible. Creating a business plan is one of the best steps that should come first. The importance of the business plan is that it helps to launch ideas into action. Ideas are what separate success from failure much of the time, so rushed ones will not suffice.In difficult times, no one is guaranteed financial success, especially those with poor ideas. To avoid being part of that group of people who set themselves unrealistic targets, who make excused, or those that procrastinate, you need to eliminate thoughts such as:

• I can not create an online business, it is something only for very smart people
• I've already tried it and it didn`t work
• I can`t pay for the product, I'm broke
• It's too hard for me ... you have done it because you are geniuses!
• To make money online? It is impossible. ... it may not work
• This is not for me, I'm happy as I am
• That's all talk ... tell me how to get rich quickly without working much

The important thing is not to get to retirement age and realise that you have not tried, and lost too much time in your life doing something that didn't allow you to live as you dream.Obviously creating a business online is not the only way to get to get rich, there are many other options, and what really matters is that you work hard and consistently to get it.There is an effective formula for becoming a successful person, for a person to get a windfall throughout his life, and it is therefore necessary to have beneficial and real ideas to achieve good profits.Your Virtual Office London can help your new business flourish and thrive. We provide innovative business services aimed at professionals and business owners. Our wide ranging product portfolio can help your business idea turn into a reality sooner than you may think. We provide company formation services to help get your business idea up and running and we then help to improve the chances of success in the first year by offering complimentary services to enhance your corporate image. Our virtual office services can really boost your companies image, it gives your company a real presence in the heart of London.Our mail forwarding service can help give your business the London look, if you want to impress clients there is no better way then showing them a business card or website address with a prestigious London address. It adds instant prestige to any business and it helps you save costs when compared to renting an address in London for a physical office space. Similarly a registered office address can help make sure your Limited company has an official address in London providing your company with a corporate image in a commercial area of the city.

One concern when you have your own business is how to get credibility and prestige, especially when you're starting. This is because there is much emphasis on the importance of positioning yourself as an expert, to stand out from the others and especially to create credibility online, which always costs more.More than anything, you should not have any limiting beliefs when you've just started. I`m not enough of an expert, I have to be this or do that, I cannot compete with the competition, etc. These are typical negative thoughts that block you and will not let you advance in your profession. Worse, they do not allow you to help others as well as you could.So how do you get that credibility, how do you feel more sure of yourself and offer your services with confidence?

You can get credibility with the four key factors

1: Experience

If you're going to spend on a particular area, your own experience gives you a lot of credibility and helps you to help others going through the same situation. For example, people seek out help from others in their field, thus gaining experience every time.The same goes for those who want a business promoting online services. Your personal history is key to giving you credibility. Another example of a credible path is that of becoming a coach. This is an experience that attracts many people who want to do the same thing, gain knowledge in a field and then pass it on to others. This is a perfect example of how to use your own experience and history to be credible, without the need to invent anything.When you form a strong emphasis on coaching, you do not necessarily need plenty more knowledge or experience than your customers. It is built upon self belief and when it comes to positioning yourself, a person can identify and be interested with your career, meaning they will trust you.

2: Training

Training gives you credibility and builds trust for the simple reason that you learn specific skills that can help your customers. Training is important whenever you have a clear goal and you can use it to increase your credibility. Just do not you fall into the common mistake of talking about yourself and your titles too much, because your customers care about what you can do for them, not how many masters you have.

3: Specialisations

The more you like to specialise in something, the easier it will be to excel, stand out, position yourself and charge more for your services. Being specialised in a topic or a specific group makes people prefer you immediately. Who doesn't want someone skilled in the area they`re interested in?For example, if you are a scientist and want a coach, what catches your eye - a coach for everyone or one who specialises in science? In a world over-saturated with information, expertise is power.

4: Evidence

This is probably the most important point of all, on which all the others hinge on. If you have evidence of customers you have helped and achieved their goals, then this gives you instant credibility. Of course, there are always people who think you can invent testimonials and so it is recommended to have full names, photos, etc. Having helped others who were in the same situation is the final proof that you are a good professional.And how do you get testimonials? First, don`t squander the opportunity to take a testimonial every time. But mostly, by simply being a good professional, because the important thing is that you are good at what you do. It is the real key to everything.Your Virtual Office London can help boost your businesses presence, we provide a wide range of services that are aimed to help improve your companies bottom line. Our professional services have been developed over many years and they offer a cost effective way of ensuring a professioanl commercial image for clients and customer alike. Our virtual office services consist of mail forwarding address, registered office address, and call answering. If you would like to discuss any of the points raised in this article please do contct our expert team today.

Would you like to get better results? To be more productive? To leave less things for later? In this article, you will find how to easily apply these aspects for a productive business with a different approach.Nature is wise and builds its magnificent structures progressively. The seed doesn't become a tree in a day - everything requires a process. In the midst of a fast-paced world, where it is possible to make great leaps from one moment to another, sometimes it is overlooked that the escalation is an important key, especially when we generate sustainable results.

Some applications of progression:

Every great project is divided into small steps. Such is the key to perform these feats: identify the small steps you need to build what you want. Visualise the end result, but only take care of the small, concrete, simple action that you make now.How often do we not know where to start or feel overwhelmed by the enormity of a project? When you face something big, change your approach to escalation and just ask yourself, what is my next move?Train yourself to break down bigger things, as this ensures your growth. Trying something, for which you are not prepared for however, greatly increases the chances of failure. Progression can be about developing and creating learning skills, which will be needed for the next level of growth you attain. Builders know of escalation, because to lift a very tall building, you need to first build an excellent foundation.Increase your self confidence. Personal change processes can take time: conceive of a new way to interact with new rules and meet new environments. To feel secure and comfortable in this scenario, you need to acclimatize.We need to explore, test ourselves and assimilate new ideas about ourselves and others. Moving forward with progression allows this process to gain results naturally and so the changes take root better.Escalation does not mean slow progress. Escalation is instead about fulfilling and evaluating each step when it is time to move to the next. Many times, the attempt to "go faster" just takes longer because you cannot ever start or build results that stand the test of time. Escalation involves being attentive to the process and having a high level of commitment to growth.Your Virtual Office London are expert at helping businesses fill their full potential. Our wide range of business services can help your new start up succeed in even the most difficult of markets. If you are looking for a London presence our virtual office, mail forwarding and registered office services can help take your business to the next level.