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Gaurav Gupta & Associates Chartered Accountants
Gaurav GuptaContact Nos: + 91 98111 63422Email: [email protected]
Internal Audit Services
Key Challenges in a Growing Businesses
1. Companies and management make significant investments in businesses.
2. The businesses need to become competitive & build significant scale and profitability
3. Management is faced with critical issues – from hiring and retaining key personnel to working capital management and many more
4. Managements need to have confidence in their systems and management processes especially since businesses are complicated, fast paced and risky endeavours.
5. Lack of systems and processes may expose the management to cost overruns, fraud, misconduct, waste and abuse. Why businesses may fail to deliver against expectations
Poor budgeting
Statutory compliances
Inadequate business controls
Lack of management bandwidth
Incorrect business reporting
Inadequate risk identification & mitigation
Growth capital not available, when required
Inadequate working capital management
Business model – customer and market
Gaurav Gupta & Associates ensures enhanced controllership and savings in manpower requirements through audit support and special projects. We provide clients with professional advice and assurance on their controls and accounting systems
We also assure compliance with regulations, company policies, procedures and standards by evaluating evidence, records, statements of fact, or other information relevant to the audit.
The following are some of audit services conducted by GGA:
a) Statutory auditsb) Internal auditsc) Concurrent auditsd) Tax Audits under the Income Tax Act, 1961e) Costing auditsf) Statutory compliances auditsg) ERP auditsh) Special management audits
Internal Audit and Review Services
Types of audits & reviews…sample
Manufacturing
Sector
ServiceIndustry
Financial Services
Infrastructure
Sector
Purchase audits
Mystery audits Branch audits Site audits
Sales audits Costing audits DST audits Purchase audits
Costing audits Expenses audits
Payments audit
Inventory audits
Inventory audits
Ageing analysis AR audits Expenses audits
Expenses audits
Cash audits Investments Head count audits
Cash audits Efficiency audit Commissions Stores audits
Branch audits Head count Head count Fixed assets
Ageing analysis AR audits AR audits Imprest bills
Stores audits Cost reduction Cost reduction Cost reduction
How GGA can assist
Health check
Snapshot
OngoingMonitoring
Proactive assessment of key processes
Undertaken at a single point in time
Management to get a better understanding of
potential areas of concern
Reactive approach when a specific
problem has been encountered
Detailed validation for identifying issues,
their root cause and remediation's
For specific areas of concern to business
owners
Regular assessment of key processes. Combines health
checks with snapshots
Ongoing assessment of compliance with
established processes can help
improve management confidence in project decisions, reporting
and controls
Assists key stakeholders by providing advice on issues as they arise,
changing landscape of risks, accuracy of
business reporting.
Situation Approach Benefits
The GGA Service Delivery Model
Phase 0 Phase I Phase II Phase III
Understand current processes
• Who does what • Why • For whom• How• Is it necessary
Review the processes
Identify Improvement opportunities
Key Performance Indicators
Benchmarking
Get buy in from key stake holders – create implementation committee
Provide implementation support to the team Roll out the processes
Monitor the performance to ensure compliances to systems
Deepdiscovery
Initialdiagnostic
ImplementationSupport
Monitoring
Internalprocess
and drivers
FinancialManagement
CapitalStatutory
Compliances
Benefits of our services
1. The management is more confident about their financial processes
2. Brings improved business reporting
• Budget Plan and future estimates
• Actuals and latest estimates
• Variances - budget vs. actuals3. Higher benefit though better controls, less wasteful expenditure 4. Improves management confidence in delegation decisions5. Brings cost efficiencies in increased business scale 6. Attracts growth capital from investors etc 7. Assists in managing risks associated with businesses8. Integrated approach to business risk and controls9. Improves management confidence in the business decisions10. Monitors statutory compliance through business life cycle11. Improves management confidence in business controls
Strong controls = faster growth = higher ROCE = higher profit = higher valuation
About Gaurav Gupta & Associates (GGA)
1. Backed by a large team of professionals – Big 4 background2. Experience of working with new enterprises, small and medium
sized enterprises and large corporates 3. A large pool of trained manpower4. Excellent skills in planning and execution of work5. We assists our clients to:
a) Increase focus on Core Business - Management is free to focus more time, energy, and resources into building the company's core business.
b) Greater Internal Flexibility - Through GGA, the company management will be able to focus on strategic issues and initiatives with more flexibility to assign staff and allocate resources to high-value projects.
c) Gain Independence - As an independent resource, GGA offers a new perspective that allows for evaluation and possible reengineering of business practices and processes, thus improving performance and reducing costs.
d) Reduction on employee dependence. – GGA can help a company reduce the dependence on management staff as employee turnover and human resources for data collection will become our responsibility.
e) Achieve Cost Efficiencies – Help eliminate unnecessary operating costs while reducing and bringing other administrative costs under better control
Why GGA
1. Independent and neutral
2. The activity will get done – internal team pulled in different areas
3. Expertise
4. Experience
5. Active implementation – not just gyan
6. Process to ensure handholding during implementation and handover phases
Contact Information
Gaurav Gupta
Gaurav Gupta & AssociatesChartered Accountants418, The Galleria TowersDLF Phase IV, Gurgaon Haryana, India
Contact Nos: + 91 98111 63422Email: [email protected]
