Audit & Risk Advisory Services
Vitt, a financial consultancy firm, is committed to delivering audit services that provide clients the assurance of having financial statements that fairly state their financial position.
Our audit professionals actively communicate their findings and provide knowledge-based insight throughout the audit process. We deliver that goes beyond our audit opinion, which helps clients anticipate and resolve issues critical to the success of their businesses.
Services Provided Include
Internal Audit
Stock Audit/ Inventory Audit
Forensic Audit, Fraud Investigation, and Detection Services
Management Audit/Health Check
An Internal Audit is an independent objective assurance and consulting activity designed to add value and improve an organization’s operations. Working in partnership with management, our team of internal auditors will provide the board and executive management assurance that risks are mitigated and that the organization’s corporate governance is strong and effective.
- Monitoring, assessing, and analyzing organizational risk and controls.
- Reviewing and confirming information and compliance with policies, procedures, and laws.
- Making recommendations for enhancing processes, policies and procedure where there is room for improvement.
Stock Audit/ Inventory Audit Service is a physical verification of stocks of Raw Material, WIP and Finished Goods including physical verification of Dead stock & Fixed Assets. It is important tool for strengthening the internal control system of the organization.
We offer stock audit service by our team of qualified professionals and we perform stock audit assignment extensively. Some of the activities we perform during stock audit is stated as below:
- Physical inventory counting and its valuation.
- High-value item inventory analysis (ABC Analysis).
- Cut-off Analysis.
- Freight cost analysis.
- Finished-goods cost analysis.
- Pilferage and old seasoned stock verification.
- Advisory service for Inventory Management.
- Reporting the discrepancies in current inventory
- management and help in resolving it.
A forensic audit is an examination and evaluation of the financial records to detect any fraudulent activity, whether it is on the part of Management or Employees. Which help in resolving high-stakes matters involving fraud and corruption, accounting and financial irregularities, and a wide variety of compliance issues.
- Fraud/Corruption Investigations Prevention
- Due diligence
- Waste and embezzlement Investigation
- Accounting fraud examination
- Asset tracing and misappropriation
- Money Laundering Investigations
Management audit is beyond conventional audit, it analyzes the effectiveness of the management team of a company. Management auditor reviews all aspects of management and overall performance of management. It covers planning, organizing, co-ordination and control, etc. Management audit detects and diagnoses the problem and suggests various means to avoid and solve the problems which improve the overall efficiency of the management. Management Audit helps organization in following ways :
- Obtain desired results and to reveal any defect and irregularities in the process of management.
- Efficiently achieve the set objectives of the management by coordinating with the personnel and help in effective discharge of their duties.
- Create strong communication system with outsiders and within the various departments
- Ensure most efficient internal organization, which leads to good co-ordination of various department.
- Making policies, plan, strategies and objectives of the management, and training of personnel.
More Services
