What are the advantages and disadvantages of Outsourcing The Internal Audit Department of a Company. Give some KPA/KPI to measure the performance of the outsourced provider.

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There are advantages and disadvantages of outsourcing your company’s internal audit function.
Also, do you know how to measure the performance of the outsourced provider?
I have tabulated below the advantages and disadvantages and some measurements to assess the performance of the outsourced provider.

ADVANTAGES:

1
Skills
If the auditing firm that you outsourced [...]

April 30th, 2006 | Tags: , , , , , , , , | Category: Financial Strategy, Outsourcing | One comment

What are the Reasons,Risks and Opportunities when Outsourcing The Accounting Function of a company ( Part 1)

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In my earlier article, I mentioned about some dinosaur functions in the Accounting & Bookkeeping function. I further elaborated on share service centre and  outsourcing which can take away the livelihood of the accounting staff. This is because in a  big group of companies,  the Group CFO is [...]

April 30th, 2006 | Tags: , , , , , , , | Category: Financial Strategy, Outsourcing | Leave a comment

How To Set Up Branches in India

This article is to share with you the procedures to set up branches in India.

Basic reasons for setting up branches in India:

Setting up branches in various states of India is inevitable as it is a very vast country. If you situate your head quarter in say Bangalore ( presently the silicon valley of India) which is [...]

April 26th, 2006 | Category: ASIA PACIFIC REGION, India | Leave a comment

SOP On Record Retention

It’s important to have a Statement of Policy on Record Retention.

This is particularly so where you have a number of subsidiaries in different countries where they need to comply with various local regulation like the Inland Revenue. By having a clear-cut policy and procedure, you can demonstrate to outsiders that from the Head Office’s view point [...]

April 25th, 2006 | Tags: , , , , , , | Category: SOP | Leave a comment

Internal Control: Information Technology (IT)

Using the salient points below, you can establish an internal control checklist or statement of policy for your company’s Information Technology

General
• Procedures should be defined and documented to ensure the security and proper maintenance of notebooks, computers and computer-related equipment.
• Usage of pirated software within the office premises should not be permitted at all times.

Logical Security
• Access should only [...]

April 24th, 2006 | Category: INTERNAL CONTROLS/AUDITS, SOP | Leave a comment
 
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