Introduction: Micro, Small, and Medium Enterprises (MSMEs) are the backbone of India’s economy, contributing significantly to employment generation and economic growth. Effective management of working capital is crucial for the sustenance and growth of MSMEs. The implementation of Goods and Services Tax (GST) in India has provided an opportunity for MSMEs to optimize their working …
Introduction: In the ever-evolving business landscape, organizations face numerous challenges that demand effective risk management, compliance, and operational efficiency. One way companies can streamline their processes and enhance overall performance is by outsourcing their internal audit function. By entrusting this critical responsibility to experienced professionals, businesses can unlock a host of benefits that contribute to …
Internal auditing is a crucial function for businesses in Delhi, as it helps to identify areas of improvement and mitigate risks. Choosing the right internal audit firm is important for the success of your business, as it can have a significant impact on your financial performance and reputation. In this article, we’ll explore some tips …
In the world of business, audits are a necessary part of ensuring financial integrity and compliance with regulations. However, there are two types of audits that companies can choose from: internal audits and external audits. While both types of audits serve the same purpose, there are distinct differences between them that can impact which option …
Internal audits are an essential part of every organization’s operation. It helps to assess the company’s overall performance, identify areas that require improvement, and ensure that the business meets regulatory compliance. If your organization is scheduled to undergo an internal audit, it is essential to understand the process to ensure a smooth audit experience. In …
Internal audits are an essential part of any organization’s risk management process. Conducting internal audits help in identifying any potential risks and weaknesses in an organization’s policies, procedures, and operations. An internal audit is conducted by the organization’s own employees, rather than by an outside firm. In this article, we will discuss the ultimate guide …
As a business owner, you are always looking for ways to increase efficiency, reduce costs, and grow your business. One way to achieve these goals is by conducting regular internal audits. An internal audit is a comprehensive review of your business’s operations, processes, and financials to identify any areas of risk or inefficiency. Here are …
Rule 86B of the Central Goods and Services Tax (CGST) Rules governs the issuance of refund vouchers by a registered taxpayer. The rule was introduced to streamline the process of refunds under the GST regime and to ensure that the taxpayer receives the refund in a timely and hassle-free manner. In this blog, we will …
Fraud is a persistent problem in the business world, causing significant financial losses and damaging the reputation of organizations. To prevent and detect fraud, companies rely on auditors, who are responsible for conducting independent assessments of financial statements and identifying any red flags that may indicate fraudulent activity. The role of auditors in reporting fraud …
Individual taxpayers may have multiple sources of income, which could be subject to Indian tax. The head Income From Other Sources’ covers income that isn’t covered by the four headings – ‘Income form Salary’, ‘Income out of House Property’ (‘Income aus Capital Gains’), ‘Income Out Of Business or Profession’ and ’Income From Salary’. This head …