Strategic Support At Every Stage Of the Business life Cycle
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Strategic Support At Every Stage Of the Business life Cycle
Office Hours: 09:00am-5:00pm
Background
Our client was having significant problems reconciling the fixed assets register and the general ledger. The fixed assets register of the company was not reconciling with the general ledger. Asset values, accrued liabilities, capital work in progress, and supply chain records were all off. The client was concerned that they might have exposure or a hidden reserve on their balance sheet, which could have serious financial reporting consequences.
Method
Our expert team examined the fixed assets register and general ledger to determine the source of the discrepancies. Advanced Excel problem-solving techniques were employed, and each transaction was given a unique ID. The discrepancies were discovered to be the result of a variety of errors, including duplicate entries, incorrect calculations, incorrect capitalization, allocation errors, and missing entries. Following that, the client was given a user-friendly template to decide on the proposed changes. Furthermore, our team provided the client with detailed reports on the reconciliation process as well as recommendations on how to handle different types of adjustments.
Results
All deviations were either corrected or reported with recommendations.
Conclusion
The client was pleased with the outcome and thanked our team for their expertise and prompt resolution of the issue.
Background
The client had been experiencing issues with determining the authenticity and reliability of certificates and work orders provided by contractors. These documents were acquired from various cities and towns across Pakistan, with some being issued by individual contractors, and others being issued by corresponding municipalities. The client was concerned about the potential for fraudulent documents being used, which could lead to significant financial losses and damage to the company’s reputation. The main objective of the case study was to most efficiently verify the veracity and dependability of certificates and work orders from contractors across different cities and towns in Pakistan.
Method
To address the issue, we devised alternate travel routes for our two teams to embark in opposite directions. The team’s leader was given relevant documents as well as the locations to approach each office / contractor for direct verification of these documents. They received authority letters from both the office and the client office.
Results
They created a summary that classified documents as genuine or fraudulent. The Summary included notes that identified fraudulent documents that had been altered or tampered with. Following a significant reduction in time and resources, the client expanded our scope even further.
Conclusion
Direct physical inspection effectively solved the client’s problem of verifying the authenticity and reliability of documents from contractors in various cities and towns across Pakistan. Its high accuracy rate makes it a valuable tool for any organisation that needs to validate the authenticity of documents.