As business owners, we must ensure that the Internal Financial Control in India is followed in our organization, basically to prevent or detect errors or fraud. By applying Internal Financial Control in India, we also ensure that the financial reports of our organization, those that transcend third parties and that is an element of decision and investment for…
The question of whether the services of an accounting firm are needed for a small or medium-sized business is still being actively discussed. Today you can find a reliable accounting firm with whom you can keep a documentary record of the financial and economic activities of the company. As a rule, accounting outsourcing (when an enterprise transfers part…
The growing use of technology, dynamic market environment, and competitive business climate brings unique challenges and opportunities. In recent years, India has seen a significant rise in scams and major corporate frauds like Satyam Computers, Kingfisher Airlines, PNB, ILFS, etc. Satyam Computer fraud was significant and one of the first of its kind. The scale…
Department v/s Tax evaders-scrutiny Goods and Services Tax (GST) which was introduced with the aim of “One Nation, One Tax, One Market”, has evolved over the years and has become an effective and efficient tax collection tool that aids the government to regulate inter/intra-state movement of goods/services, fight against corruption and above all it provides…
In accordance with our previous blog, we’ll go through some more critical topics relating to the Key Audit Matters in this one. Key Audit Matters Not a Substitute for Expressing a Modified Opinion: The auditor shouldn’t communicate the matter in the Key Audit Matters section of the auditor’s report when the auditor would be required…
For enhancing the communicative value of the Auditor’s Report, the concept of Key Audit Matters was introduced in SA 701: Communicating Key Audit Matters in the Independent Auditor’s Report. The introduction of Key Audit Matters in the Auditor’s Report offers better transparency about audit and provides additional information to the users of financial statements in…
An audit is responsible for benefiting information users by providing them with independent assurance based on risks, which generates added value because the corporate auditing firms in India give important recommendations to the audited parties. Therefore not only obligated companies but even SMEs should hire the services of corporate auditing firms in India. The recent…
It not only takes time but also labour and cost for a company to set up a robust compliance management system in it. However, performing this task is also important as compliance is an issue that cannot and shouldn’t be ignored especially at the corporate level. Due to the complexity of ensuring compliance in a…
As you know, employees of IT companies, especially programmers and developers, are characterized by accuracy and clarity in doing business. Accounting services in Delhi consider these criteria, offering services, unambiguous and understandable solutions based on them. In addition, for more successful office work, top accounting firms in Delhi not only have significant experience, but also have specialized knowledge,…
Money as a medium of exchange helps us in acquiring different necessities to live a comfortable life. In a historical era, people used the barter system for purchasing things that they required but because of its inherent limitation of having people’s requirements coincide with each other to fructify the transaction, there comes the era of…
