Home
An audit helps to identify new and emerging market segments, outline prospects and assess the benefits of bringing new products to shelves, analyse new trends in changing consumer demand and activity.
All this allows company executives to have a broad outlook, which in turn brings considerable bonuses and dividends in the competition for the hearts and wallets of end consumers.
It should be noted that the analysis of the activity of competitors is also not the last in the framework of the retail audit. Any entrepreneur knows first-hand that a well-built strategy to fight competitors is far from an empty phrase.
Although there are many types of audit, the term is generally used to designate the “external audit of financial statements”, which is an audit by a professional accounting expert, of the accounting books and records of an entity, to give an opinion on the reasonableness of the information contained in them and on compliance with accounting standards.
The complexity of the operations that companies currently carry out, as well as the competition they must face, regardless of their size or business, makes it necessary for their administrators to resort to the support offered by the retail audit companies in Delhi through internal audit.
Internal audit is an independent and objective evaluation activity to add value and improve the accounting, financial and administrative operations of an organization, helping it to meet its objectives, through the evaluation and improvement of the effectiveness of its processes, thus providing an effective service at the highest levels of administration.
The purpose of the internal audit is to provide a constructive assistance service to the administration, in order to improve the conduct of operations and to obtain a greater economic benefit for the company or a more effective fulfilment of its institutional objectives.
Some examples of what internal audit can provide are:
- That the company’s plans and policies, and internal control, as well as the procedures established for their execution, are carried out in a satisfactory manner.
- That the company is reasonably protected against fraud, waste and losses.
- That the internal means of registration, control and communication, transmit reliable, adequate and timely information to the different levels of the company, responsible for the smooth running of the same.
- That individual tasks are carried out efficiently, promptly and honestly.
- Evaluate the economy with which the resources are being used.
- Keep the Board of Directors informed of any omission or legal contingency that may exist.
The internal auditor develops his work within the framework of compliance with international standards for the professional practice of internal auditing, which gives the Board of Directors certainty and confidence that his work and the result of this will be of value and applicability for the improvement of the entity’s controls and results.
The internal audit includes the review, evaluation and information of administrative, accounting, financial and operational aspects of the company.
The need for Retail audit companies becomes evident in the modern company as it increases in volume, geographical area and complexity, and makes direct control of operations by management impossible.