Audit and Assurance Services
All corporate entities incorporated in India and specified non-corporate entities are required to be audited under various statues. We have been engaged as Auditor under various statutes by various entities ranging from large, medium and small corporate, banks and non-corporate entities. Our services cover:
- Audit under the Indian Companies Act, for all public and private companies.
- Audit of Banks (Central Office and Branch Offices).
- Audit under Indian Income Tax Act, 1961 for all tax assesses who cross a threshold of turnover as specified in the Act.
- Audit under State Value Added Tax Acts for all dealers who cross a threshold of turnover as specified in the respective state Act.
Internal auditing or management audit is an independent, objective assurance and consulting activity designed to add value and improve an organisation's operations. It improves the effectiveness of risk management, control and governance. The scope of the internal audit is as agreed upon with the management and involves topics such as efficacy of operations, cost control, compliance with statutes, safeguarding assets and ensuring the reliability of financial reporting.
Audits carried on for subsidiaries of foreign companies which involves reporting to the independent auditor of the parent company. The work also involves preparation and reporting in the group auditors pack sent for the Indian subsidiary.
Due Diligence Audits involve in-depth audit and analysis in relation to takeovers, financing, share issues, etc. Special Audits cover audits as per specific scope agreed to with the management with an objective of helping them to have an in-depth audit of specified areas like proprietory of transactions, investigation into fraud, existence of assets, etc.