Attestation, Audit & Assurance
Overview
Our company provides Attestation, Assurance, and Accounting services, aimed at supporting stakeholders such as creditors and investors. These services provide key insights to understand the dynamics of any business. Our audit approach emphasizes a thorough understanding of our client’s business philosophy, personnel, and operating systems. We use a tailored and best-practice audit method that matches the size and nature of your organization, drawing upon our extensive industry knowledge. Our deep understanding of regulations and rules enables us to assist with complicated reporting problems concerning Sarbanes-Oxley (SOX) and International Financial Reporting Standards (IFRS).
Don’t move, We’ll Handle Everything
Compliance Audit
A compliance audit is conducted to have a comprehensive review of an organization’s adherence to regulatory guidelines. This audit may include determining whether accounting personnel are following the approaches prescribed by the company, examining contractual agreements with bankers and other lenders, and compliance with stock exchange directives, central bank directives, or governmental rules.
Concurrent Audit
A concurrent audit is similar to an internal audit and is conducted regularly at predefined intervals to monitor efficiency in routine operations and compliance with statutory pronouncements from time to time. It is mostly carried out for banks and financial institutions, insurance, and asset management companies.
Financial Statement Audit
A financial statement audit is conducted to determine whether the overall financial statements are stated in accordance with specified criteria such as Indian Accounting Standard or IFRS or USGAAP. As businesses increase in complexity, auditors must use a holistic approach that requires a thorough understanding of the entity and its environment, which increases audit efficiencies.
Internal Audit
An internal audit assesses an organization’s performance or the execution of a process against a number of standards, policies, metrics, or regulations. These audits may include examining a business’s internal controls around corporate governance, accounting, financial reporting, and IT general controls. The aim of our internal audits is to identify weaknesses within the organization’s processes and control environment internally so that they can be fixed as quickly as possible to prevent harm to the organization or its stakeholders.
Inventory Audit
An inventory audit cross-checks financial records against inventory records or the count of physical goods. It is traditionally conducted for banks that extend lines of credit to Small & Medium Enterprises against their Stock or Book Debts, whereas new age banks extend Buyers Credit, Packing Credit, etc. by taking various other collateral security.
Revenue Audit
A revenue audit is directed towards identifying possible revenue leakages in the form of absence or non-operation of internal control policies, frauds & errors on the personnel’s part, system codification error, or in any other manner. It is normally conducted bi-yearly or annually by most banks.
Statutory Audit
Every company registered/established under the Companies Act, 1956/2013 in India must get its accounts audited annually. A statutory audit is directed toward verifying whether the company is adhering to all applicable compliance procedures. The statutory auditor has to report on the financial statements of the company for the given period as to whether they represent a true & fair view of the state of affairs of the company. Our strong team of Chartered Accountants is well-equipped with the auditing framework in India and capable of conducting statutory audits per global reporting standards. We have separate dedicated teams at different branches for conducting statutory audits of various clients located across other cities.
Stock Audit
A stock audit or inventory audit refers to the physical verification of a company or institution’s inventory assets. There are types of stock audits depending on the purpose, and every stock audit requires a different approach. Every business institution needs to perform a stock audit at least once a year to update and ensure that the physical stock and the computed stock match. It helps correct discrepancies between the physical stock and book stock.
Payroll Audit
A payroll audit is an analysis of a company’s payroll processes to ensure accuracy. Payroll audits examine items such as active employees, pay rates, wages, and tax withholdings. It is recommended that a payroll audit be conducted at least once per year to verify that the process is up-to-date and legally compliant. Failure to audit the payroll process can result in excessive payments, violations of employment laws, and incorrect tax remittances.
Forensic Audit
A forensic audit essentially involves the examination and assessment of a company’s or an individual’s financial information that can be used as evidence in a court of law. The objective of a forensic audit is to analyze financial transactions for the purpose of identifying financial fraud, such as asset theft fraud.
Follow up Audit
A follow-up audit is designed to evaluate the effectiveness of a corrective action that has been officially closed after all recommendations have been made for closure through the follow-up audit process. The follow-up audit assesses the adequacy, effectiveness, and timeliness of actions taken by management or the responsible organization on reported observations and recommendations, including those made by auditors.