AUDIT SERVICES

Our Audit Services can helps companies seeking new ways to achieve best performance by minimizing costs, controlling risk, strengthening collaboration and enriching transparency.

Today’s business platform demands accurate, responsive, flexible processes in areas of internal and external audit. Our audit team provide a wide range of audit services, leveraging our extreme industry knowledge across industries and our technical expertise in present era scenario. We works with leading companies to achieve business transformation and our team help clients to rediscover their operating models and processes to enhance productivity, access innovation and manage corporate performance and value. We leverage platform knowledge across a domain of different industries, and provide cross-industry capabilities. Intellectually thinking organizations in all industries are turning to skilled partners to achieve a business growth exceeding boundaries. Here, we come in with our expert auditors to leverage their deep industry knowledge across different range of industries including Airline, Automotive, Banking, Engineering and Construction, Consumer Goods, Healthcare, Financial Services, Logistics and Distribution, Media and Entertainment, Pharmaceutical and Biotech etc. We have proven our specialized skills in cross-industry capabilities such as strategic services, analytics and customer solutions.

Our Core Audit Services :- Statutory Audit |GST Audit | Internal Audit | Tax Audit | Transaction Process | Management Audit | Investigation | Stock Audit | Due Diligence | Fraud Examination | Forensic Accounting Service | Customized Audit

Statutory Audit

A statutory audit is a legally required review of the accuracy of a company's or government's financial statements and records. The purpose of a statutory audit is to determine whether an organization provides a fair and accurate representation of its financial position by examining information such as bank balances, bookkeeping records, and financial transactions.

PURPOSE OF STATUTORY AUDIT

• A statutory audit is a legally required review of the accuracy of a company's or government's financial statements and records.
• An audit is an examination of records held by an organization, business, government entity, or individual, which involves the analysis of financial records or other areas.
• The purpose of a financial audit is often to determine if funds were handled properly and that all required records and filings are accurate.
• Firms that are subject to audits include Public Companies, Banks Brokerage and investment firms, and insurance companies.

Benefits

• Improves the reliability
• Control’s efficiency.
• It enhances the trustworthiness
• It ensures the management that they have performed their statutory duties appropriately.
• Help management in reducing risk
• Improving performance

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GST Audit

GST Audit is the process of examination of records, returns and other documents maintained by a taxable person. The purpose is to verify the correctness of turnover declared, taxes paid, refund claimed and input tax credit availed, and to assess the compliance with the provisions of GST.

Benefits

• Time of Supply
• Place of Supply
• Correct gst rates
• Under-collection
• Over-collected
• HSN Codes
• Books of Accounts
• Invoices
• Matching of GST Returns with the Books of Accounts.
• Matching of GST Electronic Credit & Cash ledger with the Credit reflected in the books.
• Unclaimed GST Input Tax Credit.
• Fixed Assests
• Correct refunds for the Exporters,
• Reversing of any ITC
• Tax to be paid under Reverse Charge

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Internal Audit

Internal auditing is an independent, objective assurance and consulting activity designed to add value to and improve an organization's operations, with commitment to integrity and accountability, internal auditing provides value to governing bodies and senior management as an objective source of independent advice.

PURPOSE OF INTERNAL AUDIT

• An internal audit offers risk management and evaluates the effectiveness of a company’s internal controls, corporate governance, and accounting processes.
• The Internal Audit control requirements and holds management legally responsible for their financial statements by requiring senior corporate officers to certify in writing that the financials are accurately presented.
• Internal audits provide management and board of directors with a value-added service.

Benefits

• Improve efficiency & effectiveness
• Improve performance of company
• Helps in identifying the risk factors.
• Increase Internal Audit Transparency
• Add value and improve your Business.

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Tax Audit

Tax audit is an examination or review of accounts of any business or profession carried out by taxpayers. Ensure proper maintenance and correctness of books of accounts and certifications of the same by a tax auditor. To report prescribed information, compliance of various provisions of income tax act.

Benefits

• Avoid risk & fraud.
• It restricts the chance of fraudulent practices.
• Tax Audit helps proper presentation of accounts before the tax authorities.
• An Audit builds up the reputation of the company.
• Improving efficiency in operations.
• Increasing financial reliability and integrity.

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Transaction Process

Transaction processing systems consist of computer hardware and software hosting a transaction-oriented application that performs the routine transactions necessary to conduct business. A process audit is an examination of results to determine whether the activities, resources and behaviours that cause them are being managed efficiently and effectively. It helps in protecting the interest of persons who are not directly associated with enterprise like partners, shareholders, creditors, debtors etc.

Benefits

• Helping protect assets and reduce the possibility of fraud.
• Improving efficiency in operations.
• Increasing financial reliability and integrity.
• Ensuring compliance with laws and statutory regulations.
• Establishing monitoring procedures.

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Management Audit

Management audit involves the review of 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. Manages complete audit lifecycle including audit planning, audit plans, checklists, field data collection, development of audit reports and corrective and preventive action recommendations.

Benefits

• Helps the management providing suggestions to attain the goal of an organization.
• Helps to improve the communication system by keeping the whole management team
• It helps in proper utilization of organizational resource
• Management audit helps in decision making areas such as make or buy, closing down of an unit, acquisition of a business, etc.
• It also helps in assessing the efficiency of the executives

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Investigation

Investigative Auditing involves the examination of accounts and the use of accounting procedures to discover financial irregularities and to follow the movement of funds and assets in and out of organisations. Identification of financial activity; Tracing of financial assets.

Purpose of Investigation

• Investigation is a vital part of auditing process but only applied when the event or transaction.
• It could be referred to as a detailed verification.
• Cleared with clarification of doubt about a transaction.
• It is a structured gathering of documentary evidence

Benefits

• Helps the management in detection of errors and frauds.
• Helps the management in obtaining loans from banks
• It builds up the reputation of the business
• Maintain Consistency
• Determine Profit or Loss

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Stock Audit

Stock audit is considered as an important auditing term which refers to the physical verification of the inventory. Stock Audit is an independent check on the functions of the management, which has some value in the eyes of law and the taxation authority.

Purpose of Stock Audit

• An audit helps to identify weaknesses in the accounting systems and enables auditors to provide suggestions for improvements.
• An audit will enhance the credibility and reliability
• Helps reduce the risk of fraud and poor accounting.
• Detection and prevention of errors.

Benefits

• Identification of slow-moving stock, obsolete stock, dead stock, and scrap.
• Avoidance of fraud.
• Instant information of value of inventory.
• Cost reduction
• Reduction in gaps in the present inventory management process.

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Due Diligence

Due diligence is an investigation or audit of a potential investment or product to confirm all facts, that might include the review of financial records. Investors perform due diligence before buying a security from a company. Due diligence can be used for mergers, start up investments, and researching hedge funds.

Purpose of Due Diligence

• Due diligence is an investigation or audit of a potential investment or product to confirm all facts, that might include the review of financial records.
• Due diligence refers to the research done before entering into an agreement or a financial transaction with another party.
• Investors perform due diligence before buying a security from a company. Due diligence can be used for mergers, start up investments, and researching hedge funds.

Benefits

• Good understanding of the target company's financial implication and problem
• Understanding the Operational Nature, Potential Risks, and Potential Opportunity
• Identify access and reduces risk
• Improve valuation process

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Fraud Examination

Fraud examination consists of specialized knowledge from four fields accounting and auditing, investigation, law, and criminology. Fraud examination refers to a process of resolving allegations of fraud from inception to disposition our team of experts can help you in identifying the tasks that include:

• Obtaining evidence
• Reporting
• Testifying to findings
• Assisting in fraud detection and prevention

Purpose of Fraud Examination

• Fraud is an intentionally deceptive action designed to provide the perpetrator with an unlawful gain or to deny a right to a victim.
• Fraud can occur in finance, real estate, investment, and insurance.
• Fraudulent activity can be carried out by one individual, multiple individuals or a business firm as a whole

Benefits

• Cost Reduction
• Effective Solutions
• Risk Awareness
• Legal Support
• Resolves Disputes
• Tracking illegal activity
• Improves brand Reputation

Click an appointment for your Fraud Examination Audit

Forensic Accounting Service

Forensic accounting is the use of Professional accounting Skills application of investigative and analytical skills for the purpose of resolving financial issues in a manner that meets standards required by courts of law. Forensic accountants apply special skills in matters involving potential or actual civil or criminal litigation, accounting, auditing, finance, quantitative methods, certain areas of the law, research and investigative skills to collect, analyze and evaluate evidential matter and to interpret and communicate findings.

Financial forensic engagements may fall into several categories.

• Economic damages calculations, whether suffered through tort or breach of contract;
• Post-acquisition disputes such as earn outs or breaches of warranties;
• Bankruptcy, insolvency, and reorganization;
• Securities fraud;
• Tax fraud;
• Money laundering;
• Business valuation; and
• Computer forensics/e-discovery.

Benefits

• Forensic research to trace funds and recovery of assets
• In-depth analysis of financial data
• Prepares reports based on analysis conducted
• Generate analytical data for litigation

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Customized Audit

Our Audit Experts can create custom audits for your organisation. When you outsource your second-party auditing to us, you get more than a findings report. You get a complete Business audit expert dedicated to helping you to ensure stronger, more transparent quality control processes while saving you valuable time and money. We partner and work on behalf of your executive management to ensure corporate objectives are understood, realised, and maintained. Whether new divisions, new objectives, or as a means of risk assessment, we partner with your team to assess and report on results for baseline metrics and continual improvement. Our global network of auditors allows delivering a custom solution to protect your brand against product variation, social responsibility and sustainability issues, and management system evaluations.

Benefits

• Business Improvements
• Increases financial value and credibility
• Compliance up to date.
• Detect and Prevent Fraud.
• Better Planning and Budgeting.
• Improve the efficiency and effectiveness

Our Customized Audit Services : Statutory Audit |GST Audit| Internal Audit | Tax Audit | Transaction Process | Management Audit | Investigation | Stock Audit | Due Diligence | Fraud Examination | Forensic Accounting Service | Financial Audit | Operational Audit | Compliance Audit | Marketing Audit | IT Audit |Follow ups Audit | Legal Audit | Contractual Audit