We have with us extensive experience in offering customers auditing/assurance consultancy services. The audit related services are based on complete understanding of clients’ business drivers as well as the environment of the same.
Our team provides audit services using Global prescribed Auditing Standards, Audit Methodology, tools, documentation, approach, knowledge and technology and are committed towards delivering highest professional ethics, Integrity and standards in the delivered service solutions.
The assurance services we offer are:
Statutory Audit
Objectives of the Statutory Audit is to ensure that the financial statements i.e. the Balance Sheet, Profit & Loss Account and Cash Flow Statement give a true & fair view and are free from any material misstatements. Our approach to Statutory Audit of the financial statements is to provide reasonable assurance that the accounts have been prepared in accordance with the Generally Accepted Accounting Principles (GAAP) and are free of any misstatements, errors and discrepancies.
In addition to the traditional statutory audit, we also help the clients by monitoring organizational ethics, conducting effective reviews of operational and financial performance, assessing the quality, economy and efficiency of their operations and suggesting continuous improvement strategies.
Internal Audit
The main objective of Internal Audit is to promote efficiency, economy and effectiveness of management processes and adding the reliability and accuracy of operations. Internal Audit is mainly for management who are provided with independent, management oriented advice on organizations operations, performance and financial services.
These services are performed by team of professional having rich experience in this field and are best to perform the services.
Tax Audits
Tax audit is to be done as per the provisions laid down under section 44AB of the Income Tax Act, 1961 to check the correctness of the claimable expenditures, exemptions and deductions as allowed in the Act. Tax Audit requires certification of the books of accounts being in agreement with the Balance Sheet and Profit and Loss Account, checking the various tax compliance as per the requirements of the Act. We issue the report of Tax Audit after conducting tax audit as required by the Income Tax Act and rules prescribed thereafter in the prescribed format.
Management Audit
Management Audit requires review of appropriate management structure and particular management process. It includes the monitoring and evaluation of activities and progress of the management operations as per the expected results according to the key consideration of the management. The flaws identified during the audit are to be reported to the management along with the recommendations and then, satisfactory measures are taken by the designated authority to comply with the recommendations of the prior audit.
Due Diligence
Due Diligence is an investigation or audit of a potential investment. Due Diligence is the process of evaluating a prospective business decision by getting information about the financial, legal, and other material (important) state of the other party. Generally, due diligence refers to the care a reasonable person should take before entering into an agreement or a transaction with another party.
Due diligence is used most often when buying a business, as the buyer spends time going through the financial situation of the business, legal obligations, customer records, and other documents. The prospective buyer wants to validate his/her opinion of the business to see if it is truly a good decision. Due diligence is a process which includes detailed review of all aspects of a business or a situation, including financial, legal, insurance, technology, and marketing/sales/competition, as well as general company information.
Inventory / Fixed Assets Audit
An inventory audit is an accounting procedure designed to keep track of a company's products and merchandise. Inventory is a current supply count of company owned products. Numbers produced during inventory counts are closely evaluated by the auditor during the audit phase. Ordering managers and company owners typically perform these procedures to gain valuable information that helps them avoid inventory problems, such as overstock and shortfalls. Computer inventory software often simplifies the auditing process by making inventory tracking a more accurate and continuous process. Conclusions drawn from an inventory audit commonly influence future policy and decision making for a company.
Internal Control Review
Companies, public sector bodies and other organisations need to know that their accounting systems are working effectively, in order to minimize risks such as possible loss of assets and also to ensure that their financial statements do not contain material errors. That’s why many clients appoint us for internal control and systems reviews.
We provide independent assurance that the internal systems and controls of the organisation are adequate, effective and appropriate to the accounting and financial risks of their organisation.