Title

Feasibility study of offering audit, accounting and finance related services to the SME sector

Degree

Master of Business Administration Executive

Faculty / School

Faculty of Business Administration (FBA)

Year of Award

Spring 2019

Project Type

MBA Executive Research Project

Access Type

Restricted Access

Keywords

Accounting | Audit | Finance

Executive Summary

The research aims to study the feasibility of offering audit, accounting, and finance related services to the SME sector as these business look to outsource some of their operations. The research methods utilized for this research include exploratory research design, inductive approach, and primary data sources. A sample size of 100 is surveyed besides 3 interviews and a focus group comprising of 8 people. The samples were selected on the basis of convenience sampling for all three activities. The research helps conclude that SMEs can outsource these functions with extra due diligence to ensure that the outsourcing company is trustworthy. There is no issue of feasibility associated with the outsourcing of these operations by the SMEs. On the basis of the findings, the SMEs are recommended to outsource any of their function as per their need analysis including the critical functions such as accounting and finance. In addition, the SMEs are recommended to perform a cost-benefit analysis before an activity is outsourced. The benefits may be measured on realistic expectations from each option. The financial analysis finds the proposal financial feasible and suggests the implementation of the idea. The limitations of the research include smaller sample size, the complexity of research methods, and limited data for financial forecasts, limited time and resources available with researchers and difficulty to approach relevant people for inclusion in the sample.

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