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...

Inventory shrinkage is one of the major hindrances in the growth of small retail businesses . Inventory shrink is the difference between the expected revenue to the actual revenue the retail business makes. Now that been said, how can this shrinkage be reduced so that your retail business can achieve its full potential? Loss prevention is the next step to reduce shrinkage in the business. However, it requires a lot of precision and expertise in identifying the factors associated with shrinkage and accordingly act upon it. Let’s Understand First What Is Shrinkage? Shrinkage is the loss of inventory for certain important factors such as administrative error, damage of goods while in transit to the store or in-store damages, shoplifting, employee theft, and even vendor fraud. Identifying the Causes of Shrinkage There are various reasons associated with loss. These can be damaged goods during the transit to your store or in-store damages of goods. There can be shoplifti...

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...