If you own a business, the annual audit can sometimes feel like a time-consuming and expensive process that only benefits the statutory authorities. We make sure all your onerous reporting requirements are met as painlessly as possible- keeping banks, creditors, finance providers, and even the inland revenue, happy.

But more than that – we aim to offer you the kind of business advice that could help you to run your company efficiently and cost-effectively.We also offer expert corporate tax planning advice, to make sure you’re as tax-efficient as possible.

We provide following Audit Services

• Internal Audit Services / Concurrent Audit Services

• Management Audit Services

• Operations and Efficiency Audit Services

• Special Investigative Audit Services

• Due Diligence Review

• Costing and Accounting System Design and Review

• Compilation of final accounts as per accounting standards of US GAAP

• Internal Audits

• Statutory Audits 

• Stock Audits

• Mystery Audits

• Operations Audits

Overview:

Audit and assurance services in India encompass a range of activities designed to ensure the reliability and credibility of financial information. These services are crucial for maintaining trust in financial reporting and compliance with regulatory requirements. Here are key components of audit and assurance services in India:

• Financial Statement Audit:

  • Conducting an independent examination of financial statements to express an opinion on their fairness and compliance with accounting standards.

  • Verifying the accuracy and completeness of financial information, including assets, liabilities, revenues, and expenses.

• Internal Audit:

  • Evaluating and enhancing the effectiveness of internal controls within an organization.

  • Identifying areas of risk and recommending improvements to internal processes.

• Statutory Audit:

  • Conducting audits required by law or regulatory bodies, such as the Companies Act in India.

  • Ensuring compliance with statutory reporting requirements.

• Tax Audit:

  • Reviewing and verifying the accuracy of financial statements for tax purposes.

  • Ensuring compliance with tax laws and regulations.

• Special Purpose Audit:

  • Conducting audits for specific purposes, such as forensic audits, compliance audits, or due diligence audits.

  • Providing assurance on specific financial information or processes.

• Review Engagements:

  • Performing a limited review of financial statements to provide a level of assurance lower than a full audit.

  • Offering limited assurance on the accuracy and reliability of financial information.

• Agreed-Upon Procedures (AUP) Engagements:

  • Conducting specific procedures agreed upon by the client and auditor.

  • Reporting findings based on the agreed-upon procedures.

• Internal Control Evaluation:

  • Assessing the effectiveness of internal controls and risk management processes.

  • Providing recommendations for improving internal control systems.

• Information Systems Audit:

  • Evaluating the controls and security of information technology systems.

  • Ensuring the integrity, confidentiality, and availability of sensitive data.

• Due Diligence:

  • Conducting financial due diligence for mergers, acquisitions, or other business transactions.

  • Assessing the financial health and risks associated with a target company.

• Compliance Audit:

  • Assessing compliance with various laws, regulations, and industry standards.

  • Verifying adherence to contractual agreements and internal policies.

• Environmental, Social, and Governance (ESG) Audits:

  • Evaluating an organization's performance in areas of environmental sustainability, social responsibility, and corporate governance.

  • Ensuring compliance with ESG standards and reporting requirements.

• Financial Reporting Advisory:

  • Providing guidance on complex accounting issues and financial reporting standards.

  • Assisting with the implementation of new accounting standards.

• Quality Assurance Reviews:

  • Conducting reviews of audit processes and procedures to ensure compliance with professional standards. 

  • Enhancing the quality of audit engagements.

In India, audit and assurance services are often performed by Chartered Accountants (CAs) who adhere to the auditing standards issued by the Institute of Chartered Accountants of India (ICAI). These services play a vital role in maintaining transparency, accountability, and integrity in financial reporting, contributing to the overall confidence of stakeholders in the business community.