a.Fixed assets management- FAM is an accounting process to keep a track on companies fixed asset for the purpose of financial accounting ,asset maintenance and theft prevention
§FAM aims to track the location, quantity, condition, maintenance and depreciation status of their fixed assets
§FAM consists of two activities namely –
·Fixed Assets physical verification (FA-PV)
·Fixed Assets Register (FAR)
§Our Solutions
·Capitalization
·Bar-code / RFID Tagging
·Asset Verification & Reconciliation
·Fixed Asset Help Desk
·Fixed Asset Process Automation
GBAB expertise lies in FAM and our vast knowledge in this activity helps to provide ready solutions to our elite clientele in all sectors. Our PAN India presence, helps us to provide seamless quality service across India.
b.Inventory audit & management
Inventory Audit is an area of specialization and core competence for GBAB. We are committed to provide unmatched Inventory Audit Services because of our reach and all India network. Stocks and physical assets such as raw materials are critical real assets and needs systematized management. As a large number of companies are operating across the borders through multiple locations and channel partners, making asset management a challenge.
§We offer specific customized services which include showroom audit, compliance audits, warehouse audit, return / damaged stock audit, SOP audit, hygiene audit, dispatch audit, GRN audit, reconciliation and asset confirmation.
·Compliance audit: Focus on SOP & Statutory compliance review
·Warehouse audit: Covers Inventory & Transaction at warehouse / CFA etc.,
·RTV: Verification of Return Stock before dispatch to warehouse
·Dispatch audit: Audit of dispatches at warehouse
·Inward Verification: Check & confirm the Stock inward at stores level
·Large format Audit Supervision: Monitoring the scan audit thorough supervision
·Reconciliations: Reconciliation of Franchise, Vendor, etc.,
·Damage / Expired stock audit: Verify and witness the destruction of expired stock
Our team is equipped with the cutting edge technology and infrastructure needed for scanning the inventory and has bandwidth and experience for catering stores across India. Our team is based locally in all regions which give the client the benefit of getting multiple audits across all region delivered simultaneously.
c.Pre audit
The preliminary phase of an audit prior to the official examination of the accuracy of an organization’s financial statement, predominantly used to establish the scope of the audit and the areas of concern.
Provides a platform for:
§Gathering background information, documentations and records.
§Error rectification and prevention of ‘audit-time surprises’.
§Providing point-in time financial picture of the organization
d.Concurrent audit
Scrutinizing the real time financial transactions at the time it has taken place/ parallel with the other transactions and checking its authenticity.
Concurrent audit is mainly used for:
§Providing a clear ‘point-in time’ financial picture of an organization and
§Delivering an error management tool.
e.CSR audit
CSR is an initiative to evaluate and take accountability of the company’s effect on the environment and society by addressing the well-being of internal/external stakeholders.
Strategic business benefits of CSR audit are:
§Assists in creating a positive brand awareness
§Increased employee satisfaction,
§Reduced operating costs,
§Improved community relations and corporate accountability.
Legislation:
“The Ministry of Corporate Affairs (MCA) has vide its notification dated 27 February 2014, and in exercise of powers conferred by section 1(3) of the Companies Act, 2013 (‘the Act’), notified 1 April 2014 as the date on which the provisions of section 135 and Schedule VII of the Act shall come into force. The MCA has also notified the Companies (Corporate Social Responsibility Policy) Rules, 2014 (‘the Rules’) to be effective from 1 April 2014.”
f.Virtual CFO Services
Virtual CFO services are for organizations looking to outsource their complete finance and accounts function to a single partner.
Our solution enables seamless delivery of services which includes:
§Planning, Budgeting & forecasting for the business
§Overall management of accounting function
§Liasioning with the Banks for loan/finance
§MIS/reporting to the CEO/ Directors
§Assistance in taxation and Statutory compliance
§Co-ordination with External Statutory Auditors
§Advisory on FEMA, International transactions, taxation, commercial lows
