India is the world's fifth largest retail destination. The sector accounts for 10% of India's GDP, making it critical for our economy.
Owing to our professional experience in this space, we can handle assignments at any scale, throughout the country.
A typical retail audit has three major facets:
- Checking for adherence to SOPs (standard operating procedures) and internal guidelines
- Identifying gaps in internal controls and recommending improvement measures
- Identifying redundant processes
- Identifying areas of loss/leakage, and recommending ways of plugging them
- Conducting root cause analysis for non-compliances
- Auditing for statutory compliances (like business licenses)
- Plan and execute wall-to-wall stock takings at client locations
- Plan and execute cycle count takings at the required frequency
- Conducting root cause analysis for differences between actual and book inventory
- Recommend improvements in inventory control processes
- Fixed Assets
- Tag, count and value all fixed assets
- Perform periodic fixed asset audit
- Recommend improvements in standard procedures and internal controls
Our team can help you with inventory control, reverse logistics, cash and bank management, sales accounting, purchase accounting, and compliances.