Auditing Procedure
hey guys i hope you can shed some light on this...
I have noticed or probably its in my company that there is hardly no auditng procedure. Well our accounts section do perform some bookkeeping but i guess it ends there. No one cared to check or analyze the expenses coming out. After all those receipts get piled up are not correct. I can just imagine money disappearing somewhere else from the petty cash disbursed each day.
How about in your company, is there any cost control? In my country i can say there are some procedures and periodic audit. Thus some missing receipts and other cases do surfaced out. But then again depends on the auditor because they can manipulate reports.
So is middle east not so much strict on this? considering that most of the companies are earning well, with the daily inflow of revenues, it seems there isnt much need to be vigilant on the financial outflows?
On the other hand, this paves the way for some people taking advantage of this situation to earn more and probably work for less...
We provide services in Accounting, Auditing, Tax , Advisory and management Consultancy in Qatar for SMEs.
You can contact me 30076473
saddavi, you gave me audit job website...im not looking for a job
erma khan thanks for your post, i am having a hard time for this not having a procedure. its hard to extract data from accounts department... and with the data you get, you'll never know how accurate they are....
I think I've discovered the secret of life - you just hang around until you get used to it. ~Charles Schulz
www.planetaudit.net
************************************** [img_assist|nid=64346|title=behalte deinen kopf oben dein saddavi|desc=|link=none|align=left|width=|height=0]
well as a general observation, in any part of the world, companies making good profit and ROI, do not go for strict cost curtailement or control measures. These terms are effective once a company either go thorugh financial loss, or come as corporate directive.
Gulf as i have observed still nt considering this idea both in the term of finances and in terms of headcount. in next 5-years this will lead to problem as causing dissatisfaction in the emplyess for nt getting proper career growth plus local talent will b in line to get career jobs....plus overheads will become one critical issue.