If you are about to open a company or are responsible for managing a business, you know very well the bureaucracy that is behind a venture, don’t you? Just having a good idea is not enough to have a successful business. Tax legislation, cash flow control, investments, and accounts payable: between the theory and practice…
Internal control and risk management, including fraud and corruption, are mechanisms of primary importance for the prevention of corruption by public officials themselves. However, more needs to be done and these actions would include strengthening the implementation process and developing the internal control system in the dependencies and auxiliary agencies, as well as in the…
For an internal audit based on risks, it is key to have them identified, evaluated, and controlled to reduce their probability of occurrence or mitigate their impact, and internal audit outsourcing in India helps to facilitate and optimize this management process. When the internal audit is carried out, which as a rule must be done…
The role of Internal Audit in the company is crucial in the process of assuring and controlling the risks that may affect the achievement of its strategic objectives. Internal audit consulting firms in India can accompany you in this process of internal control of a company by developing procedures to protect the organization’s assets, minimize…
Inventory management is considered to be a complicated procedure, especially in big companies, but the fundamentals of this concept are similar for every company, be it large or small. Usually, in larger ones, it happens that raw material is first delivered to the warehouse from where it is moved to the inventory storage area and…
The business environment is highly competitive and with the advent of new technologies every day, it has become even more important to stay ahead in the game. To achieve this, you need to be able to focus on the core vision of your business and what makes it different from others. There are numerous other…
The Ministry Of Corporate Affairs has recently amended the Companies (Appointment and Qualification of Directors Rules) and has emerged a new notification which comes into force from 1st June 2022, The notification hereby stated that if any individual who desires to get an appointment in Indian Companies and that individual belongs to a particular nation…
According to some reports, about 50% of companies tend to close their activities in less than three years after opening. In most cases, this is due to problems in financial management and the lack of synchronization and harmony between accounting information and the market in which the business is inserted. In this context, it…
Refund has always been considered the most peculiarized feature of the GST regime. The mechanism of sanctioning refund is an essential process as it facilitates trade through the release of blocked funds.RoDTEP (Refund of duties and taxes on exported products) is one suchexport refund schemethat ensures that the exporters receive the refunds on the taxes…
There are many ways that companies, their partners, and administrators can be condemned by commercial, civil, and criminal laws for not keeping their accounting in order. Whether for not taking documentation related to the operational transaction seriously, doing business outside the corporate purpose, mixing, or confusing the partner’s and company’s private assets, committing deviations, or…
