Statutory Audit

To ensure that the financial statements such as the Balance Sheet, Profit & Loss Account and Cash Flow Statement gives true & fair view and are free from any material misstatements a statutory audit need to be conducted. We ensure that the accounts prepared are in accordance with the Generally Accepted Accounting Principles (GAAP).

The Firm’s Audit approach is business Oriented. It focuses on an understanding of the client’s business much deeper than the knowledge of the accounting system and records on which auditors have traditionally concentrated. We reflect this business orientation in several ways: our audit focuses on the substance of the underlying business rather than just the financial statements; we use our knowledge of the business and consider other services we provide in determining our audit procedures and appropriate sources of audit evidence; we use information we obtain from other services we may have performed during the year to offer constructive advice to management.

We are aware that the integrity and reputation of a client’s management could reflect on the reliability of their accounting records and financial representations and, therefore, on the Firm’s reputation. The Firm requires evaluation of all potential new audit and assurance service clients.

Internal Audit

Internal audit aims at the promotion of efficiency, economy and effectiveness of the management processes, and also the reliability and accuracy of operations. We provide services of internal audit for any company of any industry.

What We Offer:

  • Assessing/ preparing Internal Audit Manual for the organization and Study of control objectives.
  • Advising organizational procedures being followed.
  • Analyzing Accounting and Audit manual.
  • Practicality and viability of existing controls and areas of improvement.
  • Assessment of risks and open points.
  • Checking the controls instituted within the system.
  • Determining controls that are adequate to meet control objectives.
  • Working out possible areas of improvement.
  • Comparison of written control policies and adherence to same.
  • Measuring deviation at test check levels.
  • Deciding on degree of control which is adequate depending upon organization to organization.
  • Consideration of Fraud in internal audit.
  • Internal audit sourcing and outsourcing.
  • Assets at risk and their protection.
  • Audit of Corporate Governance.
  • Evaluation of department for internal controls, if exist.
  • Legal and situational internal control advisory.
  • Process Audits.

Management Audit

It is a systematic examination of decisions and actions of the management and to analyse the performance. It reviews managerial aspects like organizational objective, policies, procedures, structure, control and system in order to check the efficiency or performance of the management over the activities of the Company. Management Audit stresses on results, evaluates the effectiveness and suitability of controls and challenges underlying rules, procedures and methods.

It assesses methods and policies of an organization’s management in the administration and the use of resources, tactical and strategic planning, and employee and organizational improvement.

Management Audits do not check or appraise individual employee performance, they critically evaluate the senior executives as a management team.

Concurrent Audit

Most organizations such as banks, asset management firms, finance institutes and insurance organizations utilize the internal audit approach. Concurrent Audit is much the same as Internal Audit and is carried out at regular intervals. This is done to supervise the effectiveness in standard operations with statutory proclamations from time to time. Concurrent Audit usually acts as an appendage to the internal audit team, and assists it on a regular basis with factual findings.

Due Diligence

The Firm conducts due diligence reviews for Foreign and Domestic investors, especially for placement of securities.

The acquiring of a business carries with it a number of risks in areas that include: financial, legal & litigation, markets & products, management & work force, strategic and unrecorded liabilities. The Firm compiles a work plan to meet the client goals, expectations and concerns, ensuring a smooth acquisition.  The work approach for such goals is a pre-agreed plan with client.

Investigation

This audit is conducted when suspicious actions are observed on the behalf of a company, a person or at times of a loss in business. Investigative Audit surpasses standard procedures. This endeavour necessitates analytical methods, interrogating ability and monetary data reconstruction.

IS Audit

This type of audit involves an inspection of a firms IT structure, programme and performance. They are generally classified into three types:

  • General Controls Review: an assessment of the authorities that oversee the running, upkeep and safeguarding of application systems in a certain milieu.
  • Application Controls Review: this could incorporate an introspection of authority over the input, processing and production of systematic material.
  • System Development Review: this involves an introspection of the progress of a new application system. This includes an assessment of the development procedure as well as the end-product.

Stock Audit

Assets e.g. Stocks and physical assets such as raw materials are important real assets and need repeat watch. As a large number of companies are operating across the borders through multiple locations, some even with various channel partners, ensuring this watch is challenge. We offer our focused services to companies to keep them assured of their physical assets.

All Services

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