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Assign responsibilities for each goal changes. Provide information about
to specific individuals or teams, the objectives, goals, responsibilities,
ensuring clarity and accountability. timeline, and expected outcomes of
The scope defines the boundaries of the action plan.
the work, outlining the specific areas (h) Implement the plan and monitor
of tasks or activities to be performed and evaluate progress
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in a particular accounting period. Begin executing the action plan
(d) Determine the methodology and according to the defined timeline
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approach and allocated resources. Monitor
This involves deciding on the progress closely to ensure that tasks
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techniques, tools, and procedures are completed on schedule and
to be employed in conducting the objectives are being met. Establish
accounting work. It also includes mechanisms for monitoring progress
any industry-specific standards or and evaluating the effectiveness of
regulations that will guide the work. the action plan. Regularly track the
status of each goal and task, and
(e) Allocate resources identify any obstacles or challenges
Determine the resources needed that arise.
to support the implementation
of the action plan, including (i) Adjust as needed and ensure quality
assurance and review procedures
personnel, technology, training, and Be prepared to make adjustments to
funding. Ensure that resources are the action plan based on the feedback,
allocated appropriately to meet the changes in circumstances, or new
requirements of each goal. information. Address any issues
(f) Set a timeline and milestones or setbacks promptly to keep the
Establish a timeline or schedule plan on track and ensure successful
for completing each goal and task implementation. This step ensures
within the action plan. Consider that the work is performed with
dependencies between tasks and accuracy, consistency, and integrity.
prioritise activities based on their This may include peer reviews,
importance and urgency. independent checks, and validation
procedures.
(g) Communicate the plan and manage (j) Celebrate achievements
communication and reporting Recognize and celebrate achievements
Clearly communicate the details and milestones reached throughout
of the action plan to all relevant the implementation of the action plan.
stakeholders, including accounting Encourage teamwork and motivation
staff, management, and other among staff to maintain momentum
departments or teams affected by the and drive continued progress.
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