One of the most prominent contributors to our economy, but also one of the riskiest, is the manufacturing sector. The products these companies make are often highly perishable, and there are many moving parts in the manufacturing process. As a result, manufacturers face various operational risks daily, whether monetary, production-related, or both. There are different…
The current era is the era of trade, business, and commerce. It results in constant business expansions as it grows and becomes more sophisticated. The establishment of accounting long back resulted from realizing that an organization cannot remember all of its interactions for a given period and must maintain a written record of each commercial…
Checking the status of a company through an internal audit is necessary because only the constant strict control over the financial operations can guarantee the normal operation of the company, not exposed to harmful effects of mistakes, negligence, and fraud personnel. That is why CA Firms in Delhi are extremely important for the life of a company….
One of the first requisites for a company’s management is the formulation of reliable financial data. If the business is handled efficiently, it can have a logical consequence which can give access to accurate information that determines the decision making for its operations. What is Internal Control Over Financial Reporting? Internal Control Over Financial Reporting…
INTERNAL CONTROL OVER FINANCIAL REPORTING (ICFR) can be defined as a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. IFCR is mandatory for unlisted companies where a. Turnover is >= Rs. 50 Cr. and b….
