Each company sooner or later faces difficulties such as tax fines, misappropriation of resources, or clear employee fraud. As a rule, the management does not find out about this immediately. And when it notices a leak of funds, the managers cannot always react quickly due to a lack of the necessary information. It is the…
Month: October 2021
Manage Your Business Well with Accounting Consultancy
For many people, accounting is seen as nothing more than a legal obligation, something that must be carried out because there is no other option, ignoring how important and how useful it can be. Accounting is perhaps the most important element in any company or business, as it allows knowing the economic and financial reality…
Internal Audit in The Service Sector
Today, in the face of economic uncertainty, companies around the world are faced with the need to maintain financial stability and competitive advantage in the market. At the same time, the service sectors are the first to suffer. In such a situation, the internal audit service can come to the aid of the business. A…
Internal Audit: A Lifesaver That Can Fix Everything
The essence of the internal audit activity is to provide guarantees and consultations to customers. At the same time, the scope of providing guarantees and advice has significantly expanded in recent years and includes the following main areas: risk management, internal control, and corporate governance. Why is it needed? Many factors determine whether a company…
Identify Opportunities For Improving Business Efficiency With Internal Audit
Internal audit can become one of the most effective tools for identifying opportunities for improving business efficiency and, therefore, one of the company’s competitive advantages. Internal audit is in vogue today, and many managers and owners would like to implement it in their companies, often not fully realizing the enormous potential that it has. Simultaneously,…
From BRR To BRSR: Way Forward For Sustainability Reporting By Businesses
Any entity which is incorporated with an objective to earn profit has certain responsibilities towards itssuppliers, customers, investors, lenders, employees, and other stakeholders. According to their requirements, they are interested to track the developments in the entity which can be best informed to them by means of formal disclosures. These disclosures are broadly of two…
Does Registering Your Company Enhances Your Business?
When undertaking a project, be it large or small, it is always tried to individualize it and the need arises to create an image that differentiates it from other commercial actors. One of the first things that the entrepreneur does is give an identity to his idea or project, that is, a name. Later, he…
The Future of the Accounting Profession: Apocalypse No, But Deep Transformation
Surely you have heard about Artificial Intelligence or the famous fourth industrial revolution where machines will perform the jobs that humans do today. And although it might seem like something very distant that is only seen in movies or television series, the reality is that we are getting closer and closer to this happening, and…
Supreme Court ratifying the validity of Rule 89- A Way forward on Inverted duty Structure (Part-II)
As we discussed in our previous blog about the validity of Rule 89, at last, we have discussed the Gujrat High Court Judgement Interpretation. Now, we are continuing our article with Madras High Court Judgement Interpretation. Madras High Court Judgement Interpretation: – After witnessing divergent judgments by different High Courts, such a case attracted the…
Supreme Court Ratifying The Validity Of Rule 89- A Way Forward On Inverted Duty Structure (Part-I)
Under any law, the scope for litigation on certain provisions always exists. Some of the provisions requiring less clarity or arguments get settled at the lower court, however, certain provisions are unconstitutional or violative to the rights of the taxpayers which attracts the attention of the High Courts or in some cases, the Apex court…