Auditing and Assurance involves
- In depth study of existing systems, procedures and controls for proper understanding, advising on areas of improvement.
- Ensuring compliance with policies, procedures and statutes.
- Comprehensive review to ensure that the accounts are prepared in accordance with Generally Accepted Accounting Policies and applicable Accounting Standards/IFRS.
- Checking the genuineness of the expenses booked in accounts.
- Reporting inefficiencies at an operational level.
- Detection and prevention of leakages of income and suggesting corrective measures to prevent recurrence.
- Certification of the books of account being in agreement with the Balance Sheet and Profit and Loss Account.
- Issue of Audit Reports under various laws.
Types of Audits Conducted
- Internal Audit with special focus on Process Audit
- Forensic Audits for Corporates
- Statutory Audit of Companies under Companies Act, 2013 and Limited Liability Partnership Firms (LLP)
- Tax Audit under Income Tax Act, 1961
- Stock Audit
- Periodic Review of Accounts and Compliances