Control over inventories is crucial function for all organizations, as the inaccuracies in inventory records can cause erroneous management decisions.
Inventory Management intends to verify the accuracy of inventory records by creating mandatory checkpoints and controls. The process involves assigning the proper carrying value to the inventory, so it can be reflected properly in the company
The preliminary phase of an audit prior to the official examination of the accuracy of an organization
Scrutinizing the real time financial transactions at the time it has taken place/ parallel with the other transactions and checking its authenticity.
Concurrent audit is mainly used for:
CSR is an initiative to evaluate and take accountability of the company
Internal Controls Over Financial Reporting (ICFR)
ICFR is 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 GAAP.
Policies/procedures entailing a company
Quality audit is a methodical and an autonomous examination to determine whether activities of a firm complies with the planned arrangements and whether these arrangements are implemented effectively and are suitable to achieve pre-defined objectives.
It is an effective mechanism to verify compliance regulation audits with two important goals:
Fixed Asset Management
An accounting process to keep track of companies fixed assets for the purpose of financial accounting, asset maintenance and theft prevention.
i. Fixed Assets Verification (FAV)
ii. Maintaining Fixed Assets Register (FAR)
Activities performed under FAV/ FAR
Mystery audit is a tailored service, made for our clients to help them understand their customers experience for their brand.Companies need to make use of this activity to scale and reach more customer base by building brand credibility by Quality Control
An ignorance to customer experience can directly affect the company
Tailored audit is