IT audit techniques in India, like in any other country, involve assessing and evaluating an organization’s information technology infrastructure, systems, and processes to ensure they meet established standards, comply with regulations, and are secure. Here are some common IT audit techniques employed in India: Risk Assessment: Identify and assess potential risks associated with the organization’s… Continue reading Summary of IT audits in India as per Institute of Chartered Accountants of India guidelines
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Cost of Sales GL adjustments by system
Scenario – The item costing method is FIFO and the system is causing GL changes and the direct cause cannot be pinpointed. In the Item Fulfillment transactions, the system changes the GL impact due to a change in the costs. There are various reasons for the cause of the change. With our current costing engine,… Continue reading Cost of Sales GL adjustments by system
Credit Policy
A credit policy has a substantial impact on various aspects of a business: Cash Flow: A credit policy influences the cash flow of a company. Tighter credit policies (stricter terms for extending credit) can improve cash flow as they bring in payments faster, reducing the risk of bad debts. However, it might limit sales in… Continue reading Credit Policy
Credit Policy
A credit policy has a substantial impact on various aspects of a business: Cash Flow: A credit policy influences the cash flow of a company. Tighter credit policies (stricter terms for extending credit) can improve cash flow as they bring in payments faster, reducing the risk of bad debts. However, it might limit sales in… Continue reading Credit Policy
Islamic Finance
Islamic finance is a type of financing activity that must comply with Sharia. The common practices of Islamic finance and banking came into existence along with the foundation of Islam. Nowadays, the Islamic finance sector grows at 15%-25% per year, while Islamic financial institutions oversee over $2 trillion. Though only a blooming industry by market terms, representing a 1.5% of the… Continue reading Islamic Finance