Audits and assurance services are essential for maintaining financial integrity, ensuring compliance, and enhancing stakeholder confidence. Our consultancy offers a full spectrum of audit and assurance services designed to meet the unique needs of your business, from preparation to post-audit implementation.
1. Pre-Audit Preparation:
Documentation and Record-Keeping: Accurate and organized documentation is the cornerstone of a successful audit. We assist in maintaining and organizing financial records, ensuring that they are audit-ready.
Internal Controls Review: Before the audit, we conduct a thorough review of your internal controls, identifying weaknesses and suggesting improvements to enhance operational efficiency and mitigate risks.
2. Audit Execution Support:
Coordination with Auditors: We act as a liaison between your business and the auditors, ensuring that all required information is provided promptly and accurately.
Compliance Check: We ensure that your business is fully compliant with relevant accounting standards, tax laws, and regulatory requirements, minimizing the risk of audit queries or penalties.
3. Statutory Audits:
Financial Statement Audits: Our team assists in the preparation and review of financial statements, ensuring they reflect a true and fair view of the company’s financial position. We ensure compliance with the Companies Act, 2013, and the Indian Accounting Standards (Ind AS).
Tax Audits: We conduct tax audits as per Section 44AB of the Income Tax Act, ensuring that your business meets all tax compliance requirements. This includes verifying the accuracy of income tax returns, analyzing tax positions, and ensuring correct tax filings.
4. Special Audits:
Forensic Audits: In cases of suspected fraud or financial irregularities, we conduct forensic audits to investigate and uncover the issues. Our detailed reports provide clear insights and recommendations for corrective actions.
Internal Audits: Internal audits are crucial for assessing the effectiveness of internal controls and processes. We provide a systematic approach to evaluating and improving risk management, control, and governance processes.
Due Diligence Audits: For mergers, acquisitions, or investments, due diligence audits are essential to assess financial health and compliance. We conduct thorough due diligence, providing insights into financial stability, potential liabilities, and overall business health.
5. Post-Audit Implementation:
Corrective Actions: After the audit, we work with your team to implement corrective actions based on audit findings. This may include revising financial policies, enhancing internal controls, or updating compliance practices.
Ongoing Monitoring: Continuous monitoring is key to maintaining audit readiness. We provide tools and strategies to monitor compliance and financial performance, ensuring that your business remains on track.
Our audit and assurance services not only ensure compliance but also provide valuable insights into your business operations, helping you improve efficiency, manage risks, and build stakeholder confidence.