Fraud in organizations is a serious issue that can lead to financial losses, legal troubles, and reputational damage. Whether it’s embezzlement, financial statement fraud, or corruption, businesses of all sizes face the risk of fraudulent activities if internal controls are…
HR outsourcing has changed the game for companies trying to cut expenses, improve operations, and have access to specialized HR knowledge. However, many business owners hesitate due to concerns about HR outsourcing risks, such as data security, compliance issues, and…
In today’s business world, ESG Reporting for Small Businesses is becoming more crucial. Investors, customers, and regulators require all firms, large and small, to show their commitment to sustainability, ethical business practices, and corporate responsibility. However, many small business owners…
Running a business in Nigeria comes with legal responsibilities, and compliance with ITF and NSITF registration is one of them. Many employers overlook these mandatory registrations, only to face penalties, fines, or operational delays later. The Industrial Training Fund (ITF)…
Efficient inventory management is the backbone of any successful business. Whether you are in retail, manufacturing, or distribution, keeping track of stock levels, preventing shortages, and reducing excess inventory can be the difference between profit and loss. In today’s fast-paced…
Company Income Tax (CIT) is a crucial responsibility for businesses operating in Nigeria. Whether managing a small business or a large corporation, accurate CIT computation and timely tax filing are essential for compliance with the Federal Inland Revenue Service (FIRS)…
In today’s aggressive business world, the success of your company is determined by one crucial factor: the employees you hire. Building the ideal team takes more than just filling roles; it also includes attracting the appropriate individuals, aligning them with…
Are you a Nigerian business owner seeking ways to save on taxes and boost growth? The Pioneer Status Incentive (PSI) offers a game-changing opportunity for businesses in economic growth sectors to enjoy tax holidays for up to five years. Despite…
As 2025 begins, efficient payroll management has emerged as a critical priority for businesses. Payroll is more than just paying employees—it is about fostering trust, ensuring compliance, and maintaining financial accuracy. Whether you manage a small team or a large…
Small and Medium-sized Enterprises (SMEs) are the backbone of the global economy, driving innovation, creating jobs, and fostering economic growth. However, these businesses often encounter significant financial challenges that can impede their success. At Wells Accounting and Tax Services, we…