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Auditing beyond numbers

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  1. -Assessing the Human resource management strengths Auditing beyond numbers -By CA Lekha Krishnakumar lekha@lekrish.com

  2. New Idea “If you have an idea and I have an idea and we exchange these ideas, then each of us will have two ideas.” -George Bernard Shaw Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  3. Before we start let us try to answer a few questions The understanding that we carry today are paradigms accumulated over the years due to experiences. What is the role we envisage for a traditional auditor? If you are in the industry as a Finance Controller, how would you perform qualitative analysis? What could be a finance professionals role towards Human Resources function in an organization? Do you think it is important to appraise qualitative aspect of resources including human resources? Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  4. What do you see in this picture? Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  5. What do you see in this picture? Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  6. Paradigms It has been observed that : • All of us have paradigms that resist us to appreciate and acknowledge a different perspective. • Paradigms might take a rigid form with progression of age. • Some paradigms are due to the socio-economic factors and others are self created. Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  7. Change is inevitable Traditional Number cruncher to a Consultant Validations to Interpretations Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  8. What is the purpose we wish to accomplish from this presentation? Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  9. Quantity or Quality? Many Few 1GB Pen-drive 16KB Floppy Pentium Dual Core PC Pentium I PC Mechanical Executers Executive Thinkers Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  10. Attrition – Lost man months Activities when an employee quits Man-Months Lost Job searching Notice Period Finding Replacement Training new recruit Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  11. Satisfy all Stakeholders Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  12. Team Building Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  13. Qualities of good team.. Effective solutions are provided by talented, skillful and proactive people who can strike the right balance among key business values viz., • Innovation • Promptness • Quality • Effectiveness • Goodwill • Relationship • Satisfaction Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  14. How do we build a good team? Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  15. How do we build a good team? Hiring Right People Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  16. Hiring good people Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  17. Candidate Analysis Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  18. Talking about attitude.. Let me share a small presentation received from my friend. The following 8 slides are from the other presentation on attitude. Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  19. A SMALL TRUTH TO MAKE LIFE 100%

  20. If A B C D E F G H I J K L M N O P Q R S T U V W X Y Z is equal to 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26

  21. Hard Work H+A+R+D+W+O+R+K 8+1+18+4+23+15+18+11 = 98% Knowledge K+N+O+W+L+E+D+G+E 11+14+15+23+12+5+4+7+5 =96%

  22. Love L+O+V+E 12+15+22+5 = 54% Luck L+U+C+K 12+21+3+11 = 47% ( don't most of us think this is the most important ??? )

  23. Then what makes100% ? Is it Money? ... NO ! ! ! M+O+N+E+Y 13+15+14+5+25 = 72% Leadership? ... NO ! ! ! L+E+A+D+E+R+S+H+I+P 12+5+1+4+5+18+19+9+16 =89%

  24. Every problem has a solution, only if we perhaps change our attitude. To go to the top, to that 100%, what we really need to go further... a bit more...

  25. ATTITUDE A+T+T+I+T+U+D+E 1+20+20+9+20+21+4+5 = 100% It is OUR ATTITUDE towards Life and Work that makes OUR Life100%! ! !

  26. ATTITUDE IS EVERYTHING Change Your Attitude … And You Change Your Life ! ! !

  27. How do we build a good team? • Nurturing Leadership Qualities Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  28. Nurturing Leadership.. Don’t just manage.. Lead by example.. Auditing Beyond Numbers -By CA LekhaKrishnakumar www.lekrish.com

  29. Manager or Leader? Manager Leader Why & How? Why something happened and How it can be corrected? Concentrates on the fundamental cause. Offers solutions to problems. • What & Who? • What happened & Who did it? • Plays Blame Game. • Penalizes the doer. Auditing Beyond Numbers -By CA LekhaKrishnakumar www.lekrish.com

  30. How do we build a good team? • Structuring The Organization Properly Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  31. Preparing an Organizational Chart Board of Directors CEO/MD General manager- Marketing (West) General manager-Support services General manager- Marketing (South) Manager- Technical team Manager- Technical team Chief manager Finance Manager- Business Development team Manager- Business Development team Chief manager-Logistics Chief manager -HR Manager- Commercial Manager- Commercial Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  32. Clearly define roles and responsibilities of each employee Chief Manager Finance Accounts Planning/Budgetary Control Treasury/ Statutory Compliance Contract management • General Ledger • Accounts Receivable • Accounts Payable • Receipt and payment through cash/bank • Bank Reconciliation • Finalization of financial statements • Managing internal & external audit • Preparation of Annual Budgets • Comparative analysis of budgets vs actual • Product pricing methodology • Preparation of monthly MIS • Cash and funds flow management • Compliance with direct and indirect tax and assessments • Relationship with banks • Debt Collection • Dealer Contract management • Supplier Contract management • Invoicing • Status of outstanding commitments • Systematic maintenance of documents Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  33. Establishing Clear performance parameters Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  34. Communicating objective decisions and critical feedback Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  35. Establishing effective communication channels and whistle blower policy Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  36. How do we build a good team? • Competence Mapping And Capacity Building Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  37. Right Person for the right job.. Field worker used for Desk Job??!!?? Creative brain used for mess cleaning??!!?? Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  38. Capacity Building Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  39. How do we build a good team? • Adopting Good Evaluation And Incentive Systems Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  40. Periodic performance evaluation Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  41. How do we build a good team? • Creating A Sense Of Belongingness Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  42. Belongingness wields Power Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  43. Good Organizational Culture Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  44. To summarize..excerpts from Management E-Learning program Please watch the e-learning program.. Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  45. How can a Finance Professional help build Human Resources team? Auditing Beyond Numbers -By CA LekhaKrishnakumar www.lekrish.com

  46. What can a finance professional do? Analyze the symptoms. We are originators and presenters of financial information. And, symptoms are revealed from figures. Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  47. What can a finance professional do? Diagnose the right cause of problems – this may involve a paradigm shift. Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  48. What can a finance professional do? Give corrective recommendations at the right time. Bring business on track. Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  49. Let us keep our minds open for various possibilities.. Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com

  50. Let us help in building Healthy Organizations! Auditing Beyond Numbers -By CA Lekha Krishnakumar www.lekrish.com