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...

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...