Audit and Assurance

Statutory and External Audits

  • Audit of Corporate and other entities as mandated by Statute or voluntarily as required by Management are conducted adhering to the framework as mandated and recommended by the ICAI. Main focus of the audit would be on Risk assessment and mitigation, compliance reviews, transaction accounting reviews, process and internal control reviews, liquidity and operations review, appropriate and adequate disclosure requirements apart from routine audit procedures.

Internal Audits

  • The Firm specializes in Internal and Process Audits focusing on risk perception, risk assessment and risk mitigation, process reviews, internal controls review, compliance reviews, etc.,
  • Advisory on appropriateness and adequacy of the systems and processes, level and adequacy of internal control procedures implemented, compliance testing of the systems and procedures implemented, reporting and handling of variances, exceptions and discrepancies noticed, providing appropriate recommendations for improvement in the systems and processes implemented, assisting the Management in setting up and implementation of MIS systems, etc to mention a few

Goods and Service Tax Audits

  • Audit as prescribed under the Goods and Service Tax Laws in India as amended from time to time

Tax Audits and Audits under the provisions of Income Tax Laws

  • Audit prescribed under Section 44AB of the Income Tax Act, 1961
  • Audits prescribed under other provisions of the Income Tax Act, 1961 including Reporting as required under Section 92E of the Income Tax Act, 1961

Systems Audit

  • The Firm has experience in conducting Systems Audit of the Enterprise Resource Planning (ERP Softwares) in a Computerized Environment
  • Providing Assistance to the Management during transition from old legacy systems to Newer ERP Systems including ensuring verification of complete and correct transfer of data from existing systems to the new ERP system, review of chart of accounts, authority matrix, configuration of adequate and appropriate reporting formats, data integrity and correctness, review of data flows, etc to name a few

Concurrent Audit and Special Audit Assignments

  • The Firm has rich experience in concurrent audits and special audit assignments of branches of nationalized and private sector banks for over a decade

Pre-Audit Function

  • Ensuring that all transactions are recorded appropriately as required by law, supported by valid and adequate documents
  • Compiling and review of all Statutory Compliances
  • Compiling and review of Internal Controls, process reviews, etc
  • Compiling data for ensuring that the audit proceeds in a smooth and timely manner and that the audit is concluded satisfactorily both for the Auditor and the client

Forensic Audit

  • The Firm has experience in conducting Forensic and Investigative Audits for Financial Frauds and Misappropriations, employee embezzlements, asset misappropriations, etc

Stock Audit

  • The Firm conducts stock audits on behalf of banks, lenders, management on a routine basis reporting on adequacy of controls, recording of transactions, documentation, processes and procedures, discrepancies, accounting for discrepancies and providing appropriate recommendations for improving the inventory system of the enterprise.
 
     
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