VGNC Business Solution Private Limited

Forensic accountants help in detecting misrepresentations, malpractices, errors and frauds in your financial statements through their expertise. While having an in-house forensic accounting team adds value to your business operations, it is not always a viable option. Why? Maintaining an in-house team needs a business to spend its financial resources to hire new accountants or train current accountants. Startups and SMEs might not have the budget to do the same. Hiring also limits access to the best talent pool. In such a case, forensic audit services in Delhi NCR can help you get all the benefits of forensic auditing without maintaining an in-house team. Here are a few ways a forensic auditor helps your business: Build Robust Internal Controls Policies and procedures that prevent misuse of business resources are called Internal Control. These policies help in restricting unauthorized or illegal operations or functions within your business organization apart from enhan...

Why do most successful businesses perform internal audits for statutory compliance? Yes, to an extent but internal audit serves beyond just helping you to comply with taxes and other regulations. Internal Audit process helps you to keep your system effective and compliant. Internal audit service providers in Delhi focus on developing a strategic process that drives your business towards continuous improvement by identifying issues which hinder the growth and smooth operation of your business enterprise. As an internal audit is an opportunity for your business to take one step back and scrutinise their operations and functions, it is crucial that you make efforts to make your internal audit a success. Here are some tips that will help you do so: Start with a Good Design Internal audit is similar to quality management of your products & services – a good design leads to high quality. When you are performing internal audits, it is essential that you p...

Internal Audit is one of the critical processes of the businesses. While it helps stakeholders know the exact place where the business stands, the Internal audit also helps in the identification of business operations that need improvement and helps in increasing the revenues its optimisation. But not all businesses are aware of what impact internal audit has on their business especially its relationship with its stakeholders. Often, the audit report fails to truly represent all the essential data and list all identifiable risks about a business enterprise. In such a situation, stakeholders might lose their confidence such reports or the enterprise itself. As an internal audit is a standard process that helps management to take their decisions, a weak audit report will result in weak decision making.  At VGNC , we believe that your business must focus on strengthening internal audit process to be aligned to the needs of the stakeholders and to make well-informe...

An internal audit of apparel industry needs assessment of quality, procedures, and systems with a clear view of performance and improvement. Apparel industry is one of the complex industries of India, internal audit needs precision. VGNC has extensive experience in offering Internal Audit and Enterprise Risk Services to clients active in the apparel industry. Today we will discuss technical aspects of internal audit of the apparel industry. Example of Checklist of Apparel Industry 1. New workers personal file. 2. Salary Sheet. 3. Pay Slip. 4. Resign File. 5. Maternity File. 6. Earn Leave Register. 7. Leave Entry & Register. 8. ID Card Return Issue Register 9. ID card Return Register 10. Proximity card, Software, Grade, Deduction, OT Rate, Calculation of wages (basic rent, Medical Allowance), in time, short leave, attendance Bonus. 11. Workers List for Group Insurance. 12. Trade License. 13. Fire License. 14. VAT Clearance Certificate 15. Income Tax Clearance...

  A good audit report should lead to essential information and separate the identified risks into those affecting the single business unit and enterprise as a whole. It should also embed links to assist the reader in finding what they need. All auditors produce reports after completing the auditing process. It is a standard activity expected by management and other stakeholders of the company. The audit report records the result of the audit procedure which becomes the foundation of sustainable growth and improvement in the organization. If you want to achieve stable growth, you need to focus on making your internal audit reports clear and effective. A high-quality audit report helps the management to make informed and timely decisions. Why You Need to Improve Your Audit Report To Increase Visibility As the audit reports are distributed to the internal stakeholders and external auditor, the reports must provide clear information that is neither overstating nor understating ...