.png)
System Audit
Comprehensive IT System Audits for Business Security and Efficiency.
In today's fast-paced, technology-driven world, ensuring your IT infrastructure is secure, compliant, and optimized is crucial for your business's long-term success. At Commodity Consulting, we provide in-depth system audits that examine your ERP system for identifying risks, inefficiencies, and potential areas for improvement. Our goal is to ensure your technology is working for you, not against you.
What is a System Audit?
A system audit is a thorough examination of your organization's entire IT infrastructure, including software, hardware, network systems, and data management practices. It helps determine whether your current systems are secure, compliant with industry regulations, and operating efficiently to support your business objectives.
Our System Audit Services
At Commodity Consulting, we offer system audit services in and around your ERP system, tailored to your specific business needs. Our experienced auditors will evaluate the effectiveness of your IT controls, identify vulnerabilities, and provide actionable recommendations to improve your systems.
Here's what our comprehensive system audit includes:
• Customer and Vendor Ledger Review: We analyze your customer and vendor records to ensure accuracy, completeness, and compliance with accounting standards. This helps identify potential discrepancies and avoid financial risks.
• Inventory Valuation vs Ledger Reconciliation: Our team checks your inventory valuation against your ledger to ensure that your stock levels and financial records are aligned, minimizing any discrepancies that could affect business operations.
• Bank Reconciliation: We ensure that your bank transactions are accurately recorded, verifying that your cash balances in the books match your actual bank statements, thus eliminating errors and enhancing financial transparency.
• Fixed Asset Management: A critical part of any business, fixed assets require accurate accounting. We audit your fixed asset register to ensure the proper valuation, categorization, and depreciation of your assets.
• Product Wise Gross Margin Analysis: We provide insights into your product profitability by analyzing gross margins across various products, helping you make informed pricing and inventory decisions.
• Physical vs Book Stock Review: We compare your physical stock levels with your book records to ensure accuracy and compliance, helping to prevent inventory shrinkage and optimize stock management.
• Excise, VAT, and Other Regulatory Audits: We ensure your company's compliance with local and international tax regulations, including excise duties, VAT, and other applicable taxes.
• Sales and Purchase Registers: Our audit verifies that all sales and purchase transactions are properly recorded, categorized, and compliant with accounting standards.
• Incomplete Entries (GRN vs Invoice): We examine discrepancies between Goods Received Notes (GRN) and invoices to ensure completeness and accuracy, preventing financial misstatements and delays in the supply chain.
• Landed Cost Calculations: We evaluate the landed cost (the total cost of a product once it has arrived at your warehouse) to ensure it is properly accounted for, giving you a clearer picture of your true expenses.
• Open Purchase and Sales Orders Audit: We check your open purchase and sales orders to ensure that they are properly managed and reflected in your financial statements.
Get in Touch with us
Whether you’re interested in our services, have questions, or need expert advice, we’re here to help. At Commodity Consulting, our goal is to provide you with tailored solutions that meet your business needs. Feel free to reach out to us using the methods below, and one of our team members will get back to you promptly.