As cybercrime becomes more advanced and prevalent, Accounts Payable (AP) operations have emerged as a key vulnerability in many organizations’ financial processes. With increasing volumes of vendor invoices, payment instructions, and sensitive financial data being shared, often over email, the risk of cyber threats, fraud, and data compromise has never been greater. Why AP Is a Prime Target for Cybercriminals Accounts Payable involves the disbursement…
As India integrates more deeply into global trade, companies are becoming increasingly vulnerable to foreign currency risk, where even minor exchange rate fluctuations can have a significant impact on profitability, cash flows, and asset values. To manage this risk, Indian businesses commonly rely on forward contracts as a key tool in their foreign exchange hedging strategy. In this article, you will discover what forward contracts…
Input Tax Credit (ITC) is a key feature of India’s Goods and Services Tax (GST) system. It enables registered taxpayers to reduce their tax liability by claiming credit for the GST paid on purchases or expenses incurred in the course of business. To claim ITC lawfully and accurately, specific conditions must be met and proper documentation must be maintained. A registered person, including an Input…
The Income Tax Department has launched a nationwide drive to crack down on large-scale manipulation, where false claims of deductions have been identified and are currently under scruty. Tax authorities are leveraging multiple databases with the help of Artificial Intelligence to detect and investigate these discrepancies. The Central Board of Direct Taxes (CBDT) states that while the primary focus is on deductions related to fake…
Taking a company public through an Initial Public Offering (IPO) is a major milestone. While much attention is given to strategic, legal, and commercial factors, financial and accounting preparedness is equally vital to ensure a smooth and successful listing process. Outlined below are the key accounting and compliance areas that companies must address before embarking on their IPO journey: 1. Preparation of Restated Financial Statements…
