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What is Accounting Audits Assurance? Do I really need it?

Whats is Audit?

The general definition of an audit is a planned and documented activity performed by qualified personnel to determine by investigation, examination, or evaluation of objective evidence, the adequacy and compliance with established procedures, or applicable documents, and the effectiveness of implementation. The term may refer to audits in accounting, internal controls, quality management, project management, water management, and energy conservation

Are looking For  Straightforward & Cost Effective Audit

⇒ Statutory Audit prescribed under various laws

⇒ Tax Audit prescribed under the Income Tax Act

⇒ Internal Audit of Corporate and non-corporate entities

⇒ Limited Reviews

⇒ Accounting Due Diligence Review

⇒ We also provide accounting and bookkeeping services

What is Audit Define?

Auditing is defined as a systematic and independent examination of data, statements, records, operations and performances (financial or otherwise) of an enterprise for a stated purpose. In any auditing the auditor perceives and recognizes the propositions before him for examination, collects evidence, evaluates the same and on this basis formulates his judgment which is communicated through his audit report. The purpose is then to give an opinion on the adequacy of controls (financial and otherwise) within an environment they audit, to evaluate and improve the effectiveness of risk management, control, and governance processes.

Audit approach of the firm is to concentrate efforts on controls and key risk areas enabling to provide a straightforward, cost effective audit.

What is Assurance?

Proprietors, the board, financial backers, governments, controllers and different partners need to depend on the effective lead of business exercises, sound inner cycles and the creation of solid data.

These operational and announcing measures empower clients to settle on choices and foster arrangements. Certainty lessens when there are vulnerabilities around the respectability of data or of hidden operational cycles.

Audit and Assurance Services

To detect, improve or mitigate chances of fraud or misappropriation of resources/ funds.

Evaluating company’s internal controls, corporate governance and accounting processes to improve overall efficiency.

Audit of business operations, processes and transactions, identifying loopholes and providing suggestive cost effective measures.

Audit of specific operational management functions wherein we closely work with the management in improving overall efficiency.

 

 Ensuring financial statements in accordance with Indian GAAP, US GAAP, J GAAP and IFRS.

A revenue audit is a two-tier process that scrutinizes the figures and information as given in tax returns against those found in its business records of an entity.

Assistance in preparation of Standard Operating Procedures (SOP), Business Process Notes (BPN), Risk Control Matrix (RCM) etc.

Our teams have experience to assist clients in preparation for Initial Public Offering (IPO), related financial information, restatements, consolidation and other related matters.