Skip to main content

VGNC FOR PHYSICAL VERIFICATION AUDIT IN DELHI NCR

 Choose VGNC for Physical Verification Audit in Delhi NCR

Stock audit/ inventory audit is a systematic process of verifying that financial records of a business match with their physical inventory updates. The physical verification audit’s main objective is to ensure the company’s capital is invested correctly, and records about the inventory match the existing assets. Auditing stock doesn’t only verify the quantity of stock available but also ensure that stock quality is maintained as per the financial records and statements. 

Being one of the reliable names for endowing trustworthy physical verification audit in Delhi NCR, our primary focus is on verifying the company’s assets employing an efficient process that reduces the frequency, length, and complexity of physical audits. 

Importance of Physical Verification Audit 

The physical audit is essential to maintain transparency in the business flow. Without a clear picture of your inventory and its stats, it becomes a challenge for the retail business to streamline its supply chain processes. 

Knowing the importance of physical verification of stocks for retail businesses, VGNC – a renowned business advisory firm, offers reliable services to conduct physical verification audit in Bangalore and other metropolitan cities like Mumbai, Delhi, and the NCR region.  

Why should you hire an audit firm to streamline your work?

Auditors use different techniques to verify the records. In this process, assets are verified with their physical presence at a specific location. Once the on-site verification is done, it’s time for examining on-record data that includes checking the status, location, purchase date, last service date, and other related documents. 

It is a very time-consuming process, checking records every month to ensure there’s no flaws in the process. Being a business professional, if you choose to do this work on your own, you’ll not get the time to focus on your business. Believe us. It is something you’ll not be wanting.  

If you are among those businesses looking for simplifying the procedures to conduct physical verification of your assets seamlessly, then hire remarkable services offered by VGNC- the most reliable physical verification audit in Delhi NCR, Bangalore, and Mumbai. 

Comments

Popular posts from this blog

RELEASING INVENTORY STUCK UP IN GIT TO STORES SHELF

  The need of situation A reputed brand of Apparels once asked us to analyze and provide solution to cut down its lead time and reduce the size of its GIT at any given point of time as it was eating into its shelf availability of merchandise at front end Stores. The challenge we faced The Client was having a vast supply chain network having 6 warehouses, 126 stores, 35 Consignment Selling Agents, 430 EBOs and 500 MBOs leading to inventory turnover of around 40 lakhs in quantity, out of that around 20% were in GIT. The solution we offered VGNC gracefully accepted the task. We analyzed and mapped the entire movement cycle of inventory from the requisition of stock at receiving location, till its replenishment from warehouse or other stores. Updating of stock in system was consuming huge lead time on account of various technical and human snags. We streamlined the operations and optimized  the lead time and provided solution of better order management and replenishment system. Th...

THE IMPACT ON AFFORDABLE HOUSING IN GST REGIME

  Measures for promoting affording housing “It is proposed to exempt service tax on construction of affordable houses up to 60 square meters under any scheme of the Central or State Government including PPP Schemes.”   After a prolonged demand from industry, the Central Government announced above incentive and vide Notification no. 9/2016 dated 01 st March 2016 came up with a scheme of exemption from service tax liability pertaining to low cost houses up to carpet area of 60 sq meters to be developed by private developers. Before any new project could have seen the light of day under new exemption notification, and start under the new scheme, there comes a GST from 1 st  of July 2017 whereby this exemption to affordable housing by private builders, from service tax stands omitted in the new list of exempted services approved by GST council. Thus the group housing projects proposed by private builders up to a carpet area of 60 square meters no longer qualify for exemption ...

INTERNAL AUDIT

  WHAT IS INTERNAL AUDIT? Internal audit is an independent, objective assurance and consulting activity designed to add value to and improve an organization’s operations. The role of this audit is to provide independent assurance that an organisation’s risk management, governance and internal control processes are operating effectively. An internal audit may be used to assess an organization’s performance or the execution of a process against a number of standards, policies, metrics, or regulations. Internal audits  may include examining a business’s internal controls around corporate governance, accounting, financial reporting, and IT general controls. Auditors may cover all areas of an organization or specialize based on their skill-sets. In simple words we can say Internal audits evaluate a company’s internal controls. WHAT ARE THE TYPES OF INTERNAL AUDITS? Some types are: Compliance Audit IT Audit Operation Audit Performance Audit This allows the company’s Board and manag...