- Statutory Audit is Audit of Books of Accounts in compliance with requirements of any Statute to assure true and fair view of the accounts as well as compliance with any special condition of the law under which audit is initiated.
- Our statutory audit team consists of ever developing & updated set of adequate individuals trained broadly for conducting auditing function.
- Our auditing team is trained on the changing statutory requirements to stay ahead of the loop. Our statutory audit department is geared to conduct audit under relevant statute along with complying with various global accounting & auditing standards to assure usability of audited accounts for most of the stakeholders like financial institutions, shareholders, directors, investors, government, bank and general public at large.
Tax Audit prescribed under the Income Tax Act
- Our endeavor is to reduce the burden of tax and to review that disallowances and deductions if any, under the various requirements of Income Tax Act, 1961 are properly and correctly calculated, so that correct computation of assessable income can be made.
- Different tax audit services are provided by our Audit Department to our clients upholding the highest standards of auditing & accounting and providing a comprehensive tax audit report based on the statutory & regulatory requirements of the Income Tax Act, 1961.
Audit for entities like Banks, Trusts and Co-operative Societies, charitable Institutions
- We conduct audit for entities like Banks, Trusts and Co-operative Societies, charitable Institutions.
- The Audit approach of a firm is to concentrate efforts on controls and key risk areas enabling to provide a straightforward and cost effective audit.
- Besides ensuring statutory compliances and reporting on the financial statements, we provide expert opinion and insight into various areas like internal controls, legal interpretations, processes and polices, risk management, etc.
- Other Audits which supplements to statutory audit, which can be customized to the particular requirement of users and circumstances of the entity being audited.
Management Assurance / Internal Audit
- Management Assurance services aim to provide comprehensive, objective, reliable and accurate assessments of company’s effectiveness, efficiency, productivity and readiness to respond to changes in the macro environment.
- Management Assurance services serve as an uncommitted basis of decision-making for the assignment and personality development of executive managers.
- Our Internal/Management audits focus on:
- Critical evaluation of internal controls adopted by organizations and suggesting areas for strengthening
- Review of existing business processes, policies and practices with a view to suggest best practices, including a thorough benchmarking exercise.
- Review of Risk Management Framework and its effectiveness with a view to provide suggestions for strengthening the same.
- Constructive review of operations by keeping the client’s business needs in focus.
- Identification and recommendation of areas for cost reduction, revenue optimization and improvement in operational efficiency followed by assistance in their implementation.
- Providing result oriented and practical solutions followed by support for its implementation
- Confirmation of proper compliance with the various regulatory provisions and operational manuals
- Assisting in meeting the clients’ Corporate Governance requirements