Each business owner is always most interested in significantly increasing profits, increasing the profitability of the business, as well as in increasing the return on investment. In such a situation, financial management is aimed at selecting and using all the necessary stocks to increase operational efficiency.
The key to success is not always sales growth, turnover growth, etc. Most of the reserves are in the area of internal financial management. Only a competent organization of financial control of the company’s activities will help identify such reserves. The Supervisory and Audit function will exercise full-fledged internal financial control, allowing for the producctive development and prosperity of the company.
SUPERVISORY AND AUDIT FUNCTION AT THE ENTERPRISE
Many enterprises may have their own Supervisory and Audit function services, represented as a separately created service, which reports exclusively to the Director General or as a financial audit function of production processes.
Supervisory and Audit function performs not only audit of production processes, inventory, control of estimated cost, but also carries out full accounting and legal control over subsidiaries, branches and divisions. All these functions are also performed by our Supervisory and Audit function service.
For many owners of their own business, the issue of maintaining their own Supervisory and Audit function service is not a cheap option. This is due to great labor costs. As a rule, only highly qualified specialists can exercise full control over management processes in order to guarantee the safety and increase investments.
Our company offers its customers the services of Supervisory and Audit function. Our specialists will perform internal financial Supervisory and Audit, allowing the customer to be confident in achieving the goals.
How effective is the Supervisory and Audit function ?
The services of the Supervisory and Audit function will make it possible to achieve a high economic return as soon as possible. As a rule, within a couple of months after the start of the Supervisory and Audit function service, the effectiveness of the work will be fully felt.
Most often, financial controls are effective as a result of the identification of reserves in the following areas:
Current costs and assortment costs – due to the checks performed by Supervisory and Audit function, it is possible to calculate excessive production costs, thereby guaranteeing their prompt elimination;
Financial budget – the Supervisory and Audit function service will be able to assess how justified the financial budget is and how it is actually used;
Conducting settlement transactions with buyers and suppliers – during the inspections, it is possible to identify the facts of unreasonable provision of discounts, an increase in the timing of the postponement of some payments, and the identification of the facts of unreasonable issuance of advance payments to suppliers. In the course of such actions, savings up to 20% of the total turnover are achieved.
The execution of the above actions will allow us to say that the services of the Supervisory and Audit function service are necessary for each business, the main key to which is successful prosperity. They can rightfully be considered a real source of increasing the financial efficiency of the company.
The activities of the Supervisory and Audit function are aimed at:
CONTROL OF ESTIMATED COST
REDUCTION OF COST OF MANUFACTURED PRODUCTS
CONTROL OF FINANCIAL TURNOVER
As a rule, Supervisory and Audit function services should also conduct a deep business inventory – audit the business model, audit its financial model, review functionality and many business processes. Therefore, it is better to entrust the performance of the task to professionals whose work will not have to be doubted.