Articles by Tulasi S Sastri

How do we develop Organizational Policies and Procedures?

Tulasi S Sastri 28 March 2016 at 11:40

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 prepare a Diagnostic Review Report?

Tulasi S Sastri 26 February 2016 at 10:59

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?

Tulasi S Sastri 03 December 2015 at 12:35

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

Tulasi S Sastri 04 November 2015 at 10:42

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

Tulasi S Sastri 06 October 2015 at 10:51

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

Tulasi S Sastri 07 September 2015 at 19:00

Risk Management under the Companies Act 2013

Tulasi S Sastri 05 August 2015 at 11:09

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

Tulasi S Sastri 04 July 2015 at 13:32

How do you plan your career as a budding CA?

Tulasi S Sastri 02 June 2015 at 12:01

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

How do we manage travel costs?

Tulasi S Sastri 14 May 2015 at 11:00

Travel is an important item of cost for many organizations, whether in “manufacturing” or in “services” sectors. I have chosen to use the word “manage” instead of “monitor” (reference my previous articl