Internal financial control is one of the best practices that serve the purpose of accuracy, integrity, and credibility of the financial system in an organization. It refers to measures put in place to protect and maintain the value of the company’s properties alongside preventing and discouraging fraud and developing ways and means through which the…
In the fast-paced business environment of today, almost everything has to be made inoperative by balancing transparency and complying with the usual financial regulatory requirements at a very basic level before any organization can make its way to operating smoothly. This is where audit support comes in as a lifeline, ensuring a very smooth process…
Businesses must adhere to the company compliance services to operate within the legal framework set by regulatory authorities. This goes well with every company, be it a small startup or a large corporation; the set of rules and regulations to maintain legal legitimacy is equal for one and all. These rules, often referred to as compliances,…
Today, in the digital world, data storage security is a paramount concern. With the daily operations of more and more people and businesses going online, the need for secure cloud storage has become crucial. This blog will cover what secure cloud storage is, its stand-out features, and the many benefits it offers to both individuals…
Facing a tax inquiry before assessment under Section 162 can make the taxpayers nervy owing to the paucity of facts and lack of understanding about the tax laws. Moreover, the scrutiny under the section 162 also involves the scrutiny of financial records, transactions, and tax filings. Nevertheless, this overwhelming situation could still be steered clear…
Radio Frequency Identification technology is being adopted by many countries across the globe because of its potentiality to improve efficiency, upgrade inventory management, and streamline various operations in life. In major countries like India, where the economies are fast growing with multicultural industries that include manufacturing, retail, logistics, transportation, and healthcare, among others, such new…
The process auditing is an important strategy, which every organization seeking to adopt improved quality and productivity in its operations needs to undergo. The traditional financial audit primarily accompanies an evaluation of financial transactions while a process audit goes much deeper and evaluates the structures that make the organization. Process auditing is a detailed assessment of the…
Insurance companies usually hire independent adjuster firms to manage their workloads and work high-volume claims. Independent adjuster firms are highly knowledgeable and boost efficiency and productivity. This reflects well on the insurance company and enhances the claimant experience. They are a trusted partner when you need help working in remote areas, decreasing overload, and with…
What are Auditing and Assurance Services? Auditing and assurance services increase the credibility of financial statements, thereby ensuring that they represent a true and fair view of an organization’s financial position. While auditing refers to an independent examination of financial statements, assurance services relate to a statement that is issued on the reliability and accuracy…
Anyone who is thinking to start a business must understand the comprehensive process of formation of a new company. This includes legal, administrative, and financial processes. These processes are important to lay a strong foundation of the businesses. This blog is a complete guide to explain the major steps of company formation. Choose the type…
