Articles by Tulasi S Sastri
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How do we develop Organizational Policies and Procedures?
Companies Act 2013, referring to the Directors' Responsibility Statement, explains Internal Financial Controls (IFCs) as the policies and procedures adopted by the company for ensuring the orderly and efficient conduct of its business, in
How do we design Effective MIS?
This is a concept note on MIS, which attempts to cover many types of Business Models we normally see. Accordingly, to any particular organization, only some of the modules covered here would be relevant.As you see in the chart below, an organization
How do we prepare a Diagnostic Review Report?
As professional accountants, or as consultants or as internal auditors, when we receive any enquiry for an assignment, to know about the organization and to assess the possible scope of an assignment, we prepare a Diagnostic Review Report (DRR). Info
How do we clean up Vendor Master?
People who are familiar with ERP or Integrated Applications, experience this problem. In medium and large organizations, where such computerized systems are in use, general tendency is to add Vendors in the Master, and leave them there even if they a
Pragmatic solution to an age old problem in Logistics
A company is engaged in procurement of paddy, process it, sell and distribute rice products. Operations are characterized by high volumes and movement of materials on a large scale. Every day, about 150 trucks reach the plant with paddy and a similar
Unconventional Internal Audits - HR Processes
Internal Audit has been gaining importance over the years. This has been due to:a. Statutory requirements including recent ones through the Companies Act 2013, like mandatory appointment of an Internal Auditor in certain cases, importance for Interna
Unconventional internal audits - Admin processes
Internal Audit has been gaining importance over the years. This has been due to:a. Statutory requirements including recent ones through the Companies Act 2013, like mandatory appointment of an Internal Auditor in certain cases, importance for Interna
Risk Management under the Companies Act 2013
The Companies Act 1956 did not contain any mandatory provisions relating to Risk Management, whereas the Companies Act 2013 placed specific expectations on important stakeholders in a company, namely, the Board of Directors, Audit Committee and the I
Unconventional internal audits - Litigation process
Internal Audit has been gaining importance over the years. This has been due to:a. Statutory requirements including recent ones through the Companies Act 2013, like mandatory appointment of an Internal Auditor in certain cases, importance for Interna
How do you plan your career as a budding CA?
After 4 decades of working, I believe that I have some useful thoughts to share with young Accountants to help in their career advancement. Hence this article.Knowledge WorkersWe are all knowledge workers. When I conduct interviews for fresh Chartere
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