STATUTORY AUDIT
We believe the statutory audit should be viewed as an opportunity, not an overhead. It is a legally required review of the accuracy of a company’s or governments financial records. The purpose of a statutory audit is the same as the purpose of any other audit – to determine whether an organization is providing a fair and accurate representation of its financial position by examining information such as bank balances, bookkeeping records and financial transactions of both Public and Private Companies, Banks, Financial Institutions, PSU’s, firms and Sole-Proprietors.
INTERNAL AUDIT
We review and evaluate the effectiveness of your organization’s internal controls. Based on the risk assessment, we evaluate the adequacy of existing internal controls and perform checks whether these are appropriately implemented. The processes, risks and controls are documented, recommendations provided for improvement and we stay involved through the implementation
TAX AUDIT
To prepare the report in Form 3CA/3CB including annexure in Form 3CD as per div 44AB of the Income-Tax Act. We’ll help with your IRS tax audit by:
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Reviewing the tax authority notice or inquiry and explain what it means
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Researching issues involved
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Assisting you in assembling documents and records for the tax audit
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Reviewing the tax audit findings and explaining them to you
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Explaining the appeal process and other options available to you in the event you disagree with the tax authority’s findings
CONCURRENT AUDIT
Most organisations such as banks, asset management firms, financial institutes and insurance organisations utilise the internal audit approach. Concurrent Audit is much the same as Internal Audit and is carried out at regular intervals. This is done to supervise the effectiveness in standard operations with statutory proclamations from time to time. Concurrent Audit usually acts as an appendage to the internal audit team, and assists it on a regular basis with factual findings.
STOCK AUDIT
Financial institutions are expanding their credit to entities based on their stocks or book debts. This could either be done on the basis of the overdraft, cash credit limit, etc. It then becomes crucial to have checked at regular intervals to establish the status of current assets, accurate attestation for statutory compliances and debt turnover scrutiny
SPECIAL PURPOSE AUDIT
We assist our clients with special-purpose reviews wherein we check on management or regulator specified areas viz. Corporate Social Responsibility, Anti-money laundering, Information Technology Systems, Grant utilization, ETC.
