Introduction: Co-operative Housing Societies are entities registered under the co-operative laws of the respective States. According to Section 2(16) of the Maharashtra co-operative society act, 1960, “housing society” means a- society, the object of which is to provide its members with open plots for housing, dwelling houses, or flats; or if open plots, dwelling…
The methodology and approach of effective internal audit control by professional consulting firms help organizations protect themselves from risk and financial loss. Through strict control measures, it is possible to avoid or at least minimize potential risks that can lead to financial instability or even bankruptcy. The Institute of Internal Auditors (IIA) published a study…
It is time for businesses to stop worrying about the cost of taxes and focus on tax planning. With the fiscal cliff approaching and payroll tax increases on the horizon, it’s time for companies to prioritize tax planning. Businesses in the current era should start tax planning as early as possible and learn how to…
As a business owner, you know that tax planning is an important part of ensuring the financial health of your business. It’s bitter fact that taxes can be a big part of your bottom line. But did you know that with some smart tax planning tips, you can keep more of your hard-earned money? In…
Any service provider that provides a total service value of more than Rs 20 lakh in a year, requires GST registration. Any business which is engaged in the supply of goods having a total turnover of more than Rs 40 lakh is also mandated to get GST registration. Apart from this, GST registration is necessary…
Forensic accounting expertise is increasingly in demand today. But what does a forensic accountant do, what needs does it meet and what are the prospects for this profession? Many business managers want to prevent the risk of fraud in their company and therefore they call for Forensic Accounting Services in Delhi– a step that guarantees prevention,…
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…
