VGNC Business Solution Private Limited

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...

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...

If you are running a retail business, exercising inventory control and efficientlymanaging inventory is of utmost importance to maintain the stability of your business. By knowing and looking after right inventory metrics, you can avoid both surplus and deficit in your warehouse which is cost effective. In this post, we are going to discuss top inventory metrics that you need to track as a retailer. Let’s get started: 1.      Margin Return on Investment Gross margin return on investment or GMROI helps retailers to know what they are getting back in return in return for what they have spent. You measure the profit return you are getting the funds that you have put in your inventory. The formula of GMROI : gross returns/ average cost of inventory. While there are many other inventory ratios and functions, GMROI is one of the most crucial metric that retail owners track to optimize their inventory process. By calculating GMROI, retailers ca...