A few years ago, it was not accepted to talk about internal audit as a profession. In many companies, employees of internal audit services or specialists acting as internal auditors have held positions of economists, financial analysts, and accountants. Gradually, internal audit is being formalized into a full-fledged profession with all its attributes and…
From financing errors to deficiencies in the business plan: The reasons why business start-ups fail are often due to a bad start. No wonder: The step into self-employment is complex and holds many pitfalls. This makes having professional support more important. Business start-up advice from tax advisors For tax advisors, start-up advice is a lucrative…
Many companies start their operations with a lot of courage and effort, clear and good ideas, and excellent plans, but they focus more on marketing and sales than on internal processes that are fundamental for their operation, such as correctly controlling their expenses and income, that is, adequate accounting. Accounting is a discipline that deals…
In the recent scenario of India, law and order is something which we should emphasize on a better level. It has been observed that forensic experts face issues and challenges when it comes to investigating crimes and at the same time taking care of their safety. Security Services in India, face tricky situations depending on…
The tremendous potential to make a business run at a global level has broken the barrier. This has led to the adoption of a broad horizon in promoting the business worldwide. Therefore, it is clear that even if there is an issue in one part of the globe the factors of production and demand get…
To make and implement the most effective management decisions from the point of view of the strategic development of an economic entity, constant and effective internal control is required at all stages of the management process. In market conditions, the basis for the stable position of any economic entity is its financial condition, the measure…
When you are about to start a new business, you wonder whether or not you should set up a legal entity to develop that project. Perhaps you ask here and there, and doubts increase when it is reported that to establish a legal entity such as a public limited company, you must spend on a…
In the face of economic uncertainty, internal audit has become a critical resource that can help companies improve their internal control and risk management systems and improve overall business performance. And if 2-3 years ago, managers preferred to outsource many of its functions, today there is a tendency in the market to massively attract internal…
Today the concept of “internal audit” has become widespread in business. Many large enterprises and companies prefer to create their internal audit services and departments, training their employees. When deciding to conduct an internal audit, it is necessary to determine its subordination to the audit committee of the board of directors or directly to the…
Internal audit staff conducts an independent assessment of all systems and processes of the organization from the point of view of how effectively current tasks are being solved and goals are being achieved. They make recommendations to remove bottlenecks, mitigate risks, and as a result they make sure that systems and processes are improved. Firstly,…
