We help prevents additional expenses and hurdles during the project phase by identifying discrepancies, financial leakages and providing consultation to mitigate risks, safeguarding the company finances.
The project phase is critical due to its susceptibility to delays and additional costs. Yogada offers a Pre-payment audit to ensure that the company does not incur any additional expenses or encounter any hurdles. The project phases are volatile in nature leading to frequent changes in scenarios, these changes need to be rectified on immediate basis.
The early detection of such discrepancies can help maintain the effectiveness of key controls and payment of valid supplies. This process establishes a control over the project phase which later translates into minimal errors. It also identifies potential financial leakages and omits them.
We also provide consultation to help mitigate scope adjustments, schedule extension, cost escalation and project risks. Minimized risks lead to maximized results. The pre-payment audits act as precautionary measure to safeguard company’s finances and other redundant instances.
Our Service Benefits includes,
- Early detection of risks.
- Mitigating additional costs and delays.
- Gaining immunity towards evolving scenarios.
Frequently Asked Questions
Yes. Generally in projects phase where processes are of non-recurring nature or not streamlined, there pre-audit helps in ensuring that all the legitimate transactions are passed in books and accordingly payments are made to suppliers / vendors.
Yogada helps in addressing project risks like cost escalation, scope adjustment, schedule extensions, undue delays etc through pre-payment audit and ensures zero leakages.
Our Other Services
Standard Operating Procedures (SOPs)
We create technology driven design structure and provide appropriate training.
IFC/ SOX
Test & Update. We create and assist in implementing the framework.
Internal Audit
Develop Continuous Monitoring to help detect potential fraud & process risk.
Pre-Payment Audit
Ensuring timeliness of Project Phase by mitigating extensions & financial cost.
Diagnostic Review
Creating Synergy in management of established processes and identifying profit opportunities.
Physical Verification/ Wall-to-wall count
Identify probable deviations by verification of physical assets.
Due Diligence
A survey of compliance position and true book value to avoid additional costs.
Process Optimization
Cost efficient methods driven by state-of-art technology. Designed on a case-to-case basis.
Dashboards
Bird-eye view of mandatory everyday business practices. An overview of organization’s operations.
Commercial Drafting
Systematic drafting of agreements and contracts to strengthen legal position against fraudulent practices.