Audit & Assurance Services

Audit & Assurance Services

 

An audit is a statutory requirement which comprises the independent, external evaluation of the entities’ accounting system and testing of transactions to form an objective opinion, on the fair presentation of financial information.

Our service is driven by our core values being:

  • commitment to service delivery
  • integrity always conforming to high ethical standards
  • teamwork achieved through using multi-disciplined and diverse teams; accountability to our stakeholders; and
  • quality achieved through compliance with professional standards and active management participation

Our audit approach is a risk based approach which includes a detailed risk assessment with the objective of identifying high risk areas. The high risk areas identified directs audit effort which in turn lends itself to a cost-effective audit.

The features of our approach are:

  • developing an understanding of the entities activities and the environment in which it operates
  • performing a thorough risk assessment
  • customizing audit plans
  • critically reviewing the control environment
  • communicating at each stage of the audit process with all relevant parties

Audit function quality is of fundamental importance for maintaining trust in the financial reporting process and the integrity of financial information. It has never been more vital to be able to have confidence in an audit. That is why we work continually to ensure that multinational audits are carried out consistently and to a high standard across the network.

All entities, including companies, limited liability partnerships and charities, that meet certain criteria such as being above a certain size or of public interest, are required by law to have their financial statements audited. Others for various reasons, including agreement with shareholders to fulfill financing requirements, may require an audit.

We provide audit services to a wide range of clients across the sectors. The experience of our audit teams, covering many industries and service sectors, enables them to focus on key areas of risk, adequacy of internal controls and potential areas of fraud.

Our audit approach, at the leading edge of best practice, is tailored to suit the size and nature of organization and draws upon your extensive industry knowledge. Our deep understanding of regulation and legislation means we can also help with complex reporting issues involving application of applicable India and International Accounting Standards and International Financial Reporting Standards (IFRS).

We carry out cost effective audits for small and medium sized entities and have over the years acquired an expertise in effectively executing special assignments. Our audit and assurance services include:

1 We undertake Statutory Audits of Public/Private Limited Companies in the Manufacturing/ Trading/ Service Sectors, IT Companies, Nationalized Banks, Financial Institutions, Non-Banking Finance Companies, Public Sector Undertaking (PSU), Charitable Institutions, NGO, Hotels, Hospitals, Cooperative Societies and other small and medium sized enterprises.

Tax Audit under Income-tax Act, 1961

Every business Company, Firm or Enterprises whose turnover exceeds specified threshhold in any previous year, is required to get its accounts precisely & punctually audited and obtain a report under the section 44AB of the Income Tax Act. We have a team of mellow tax experts to conduct such type of audits.

Internal Audits

To ensure strong internal control systems to minimize the risk of accidental or deliberate errors and omissions in order to safeguarding of assets, have adequate control areas on key area and ensure compliance with internal operating policies and guidelines. The following are the important factors in Internal Audits:-

  1. Compliance with management controls
  2. System and process improvements
  3. Financial impropriety and fraud audits
Concurrent Audits

Large organizations and corporations need to verify day to day business transactions. We have a pool of qualified & experienced professionals and ancillary staff, to conduct such audits.

Special / Investigation Assignments

Unearthing fraud and financial impropriety and for taking remedial action.

Management Audits

To maximize management performance, productivity and efficiency for organization’s success.

Operational Audits

To ensure that resources of the organization are optimized to deliver maximum possible value by focus on streamlining processes, minimizing waste and objective measurement.
 
  
 
  


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