Production audit is one of our newest services offered in response to economic changes in the country. More and more owners of industrial enterprises realize that production may not be controlled only through financial reports.Production audit is a review of production activity quality, its efficiency and efficiency of financial investments, reasonable and effective use of funds.
It is supported by advanced foreign experience which does not equate financial and production audit calling for consistent monitoring to prevent potential embezzlement, assess risks and potential corruption including the following:
- theft of raw materials and finished products;
- deliberate overstatement of net cost of products;
- invalid production reports;
- ineffective production program planning;
- production of goods inconsistent with the production program;
- hidden production reserves (strategic reserves).
In most cases, a production audit is required to increase production efficiency and consequently to optimize production and develop better production management systems. Production owners may also need an independent assessment of production efficiency of their assets.
Production audit objectives:
- arranging accurate accounting of production activities;
- achieving maximum profitability;
- identification and elimination of challenges and risks;
- developing mechanisms for protecting companies from embezzlement and corruption;
- effective planning of economic activities;
- arranging management procedures.
Our Company performs the following work as a part of production audit:
- audit of production management business processes;
- audit of the system for monitoring the flow of raw materials and supplies in production;
- audit of the product net cost management system;
- audit of the reserves and costs management system;
- analysis of investment project business plans;
- consulting for investment project implementation;
- monitoring of project implementation;
- audit of compliance of project implementation results with approved parameters.