Managing GST compliance is a crucial aspect of running a business in many countries around the world. Goods and Services Tax (GST) is a tax levied on the supply of goods and services, and its proper compliance is essential to ensure smooth business operations, avoid penalties, and maintain legal compliance. However, small businesses often face...
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Payroll Outsourcing – A Smart Decision for Your Business
Payroll Outsourcing – A Smart Decision for Your Business Payroll is a critical function in any business and ensuring that it is managed effectively and accurately is essential for the success of the business. However, managing payroll can be a time-consuming and complicated process, and it can be challenging for businesses to keep up with...
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Implementing IFRS Conversion
The #textile #sector is a highly competitive and constantly evolving industry. The global nature of the industry and its complex supply chains require standardized accounting practices to ensure comparability and consistency in financial reporting. Implementing International Financial Reporting Standards #ifrs is critical for textile companies to stay competitive and meet international accounting standards. Our #client,...
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Fraud Prevention & Setting up Fraud Control Unit
Our #client , a leading #fintech company, was facing #challenges in #fraud prevention and control. They were experiencing high instances of fraud, which impacted their financial stability and reputation. Their existing fraud prevention and control systems were not adequate, and they lacked the necessary expertise to address the issue effectively. The IPPC Group’s Fraud Control...
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Implementation of IND-AS in Housing Finance Company
#HousingFinanceCompanies (HFCs) play a crucial role in the Indian economy by providing affordable housing finance to people. The implementation of Indian Accounting Standards (IND-AS) has significantly impacted the #hfc #sector , requiring them to follow new guidelines and disclosure requirements. Our client, a leading #hfc , was facing #challenges in implementing IND-AS. The primary issues...
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How to deal with ED notice under FEMA?
How to deal with ED notice under FEMA? The Foreign Exchange Management Act (FEMA) is an important regulation that governs foreign exchange transactions in India. It was introduced in 1999 with the objective of regulating the flow of foreign exchange in and out of India, as well as to facilitate external trade and payments. The...
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Why Understanding RBI’s Role Under FEMA Is Key To Your Business Growth?
Why Understanding RBI’s Role Under FEMA is Key to Your Business Growth? The Reserve Bank of India (RBI) plays a crucial role in the management of foreign exchange transactions in India under the Foreign Exchange Management Act (FEMA). FEMA, which came into effect in 1999, replaced the Foreign Exchange Regulation Act (FERA) and brought about...
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Best Practices for NBFC Sector
We are excited to share our success story of helping a leading #nbfc in conducting a thorough and effective #internalaudit.Our client had been facing challenges in identifying and mitigating risks in their operations and complying with #regulatory requirements. They needed a comprehensive #internalaudit to assess their #internalcontrols, #financialreporting, #compliance, and #operationalefficiency.Our #grc team with rich...
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Conducting Retail Audits at Various Locations
Our client, a leading #fmcg company, faced a significant challenge in conducting retail #audits at 300 locations spread all over India in just 15 days. The client needed accurate data to assess the performance of their products in the market, but the short timeline and large scale of the #audit posed a major hurdle. Our...
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Best Practices for Fintech Companies: SOPS, RCM, and Internal Control
Our client, a #fintech Company, was struggling to create #standardoperatingprocedures (SOPs), implement a robust Risk and Control Matrix (#RCM), and conduct an Internal Control over Financial Reporting (#ICoFR) activity. They needed to ensure compliance with regulatory requirements and improve their risk management framework, but lacked the necessary expertise and resources. Our #Governance, #Risk, and #compliance...
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