SERVICES

Statutory Audits

The monetary statements of a firm for given time are to be looked after by the Statutory Auditor. The role of the auditor is to report all the current affairs of the company. This helps the stakeholders to gauge the substantiality of the company with regards to their proceedings.

Preparing Financial Statements

Audit professionals deliver by holding an imperative role of being a trusted body between the business information providers and it’s users. With the rising economic crisis and fraud in recent times, we believe an independent team of auditors is the need of the hour to bring a big change. With the help of the stakeholders and the concerned, we enable data and analytics to make the auditing procedure more legit.

We welcome the challenges and opportunities we get as auditors. Core to our mission is acknowledging the responsibility we have as auditors to society and the capital markets. Innovations that lead to enhanced audit quality, like our application of LEAN methodologies to the audit, are important to the organizations we serve.

We acknowledge the responsibilities as auditors and assure high quality work to maintain our client’s confidence. We come up with ways to make the process better, not only for the clients but also for ourselves. Understanding our client’s business and industry, we serve the best we can as per market standards.

Tax Audits and Internal Audits

Internal Audit

The internal audit is specifically designed to enhance a firm’s functioning. It assists an institution in achieving its goals by ushering a methodical system to inspect and improve the efficiency of risk evaluation and management. It has a widened scope within an organization and may incorporate spheres like effective functioning, the accuracy of financial collaterals, inspecting and discouraging frauds, protecting assets, and productive usage of the company resources that are in agreement with the company’s rules.

Risk-Based Transaction Audits

The Risk-Based Audit is implemented by the auditor to focus on the nature, timing, and extent of the audit procedures of those areas that have a high potential of material misstatement. The auditor also focuses on those areas where there is a high risk of material misstatements as compared to those where there is a low possibility of risk.

Management Audit

Management Audit is the assessment of methods and policies of an organization’s management at an administration level as well as the use of resource planning tactically and strategically for the improvement of the organization.

Cost Saving Suggestions

In the process of management auditing, auditors study the expenses the company is bearing periodically. Based on the study, they suggest the best possible cost-saving moves to the company so that the company doesn’t overspend or spend on something which is not useful. This way the company saves more funds and can allocate the right amount on some processes.

MIS/Assessment of Accuracy

Accuracy is the concept that a stated value in accounting records completely reflects its supporting facts. To produce accurate financial information, the accountant cannot skew information based on overly optimistic or pessimistic views of the desired outcome.

Statutory Compliance

We adhere to the statutory compliance of any company in the best possible way. We as a team take responsibility for any company to maintain records of accounts and to make statutory payments to the Government on time.

Policy and Procedure Adherence

We set accounting policies with specific principles and procedures implemented with a company's management team. This is used to prepare a company’s financial statements. These include any accounting methods, measurement systems, and procedures for presenting disclosures.

Risk Management

This process involves assessing the risks involved with a company or firm's business practices. The overall goal of this process is to minimize or eliminate these risks. Risk can include any basic damages that happen to a company's resources.

Special Investigation Audit

Special investigation audits aim at auditing the operations of a company at various levels to achieve the flawless and smooth function of its internal processes.

These sorts of investigations are carried out with the mandate of the client to investigate a specific function within the business, often on specific parameters.

Inspection and Investigation Audits

These types of audits are a form of risk analysis and evaluation in which a systematic investigation is carried out to determine the extent to which the conditions are present that provide for the development and implementation of an effective and efficient safety policy.

Reviews, Compilations and Attestation Services

A review must be performed under Statements on Standards for Accounting and Review Services (SSARSs). In a review, an accountant obtains limited assurance that material modifications to the financial statements are not required for them to conform with GAAP. This assurance is accomplished by performing inquiries of management, analytical procedures, and calculations of certain financial ratios. Reviews generally are requested by users of the financial statements who require a higher degree of service and assurance than a compilation but not to the extent of an audit.

The compilation is another service a CPA provides in the attestation. In a compilation, the CPA compiles the books and records of a client without any performance of substantive procedures, verification or confirmation of balances. Therefore, the CPA does not obtain any assurance that the financial statements would not require material modification to comply with GAAP. The presentation of the financial statements may also be altered to exclude the related footnotes at management’s discretion.

Attestation refers to services in which a CPA ‘attests’ to the fairness of the financial information presented and signs a report that summarizes the findings. In that respect, it is different than a tax return which is issued without any such attested report. These services range from a basic compilation to a much more involved full-fledged audit. An informed understanding of each of the three varying levels of services will allow you to determine which is appropriate for your specific needs.

Establishing and Reviewing Internal Control Systems

Regular review is often seen as the best way to ensure internal controls remain relevant, even as companies grow in time. A single annual assessment in isolation is not always the best way to go.

First, consider the significant risks and assess how they were originally identified, evaluated, and managed. It’s important to note whether companies still face these risks or if they have changed, as this could affect both the policies enacted in response and the internal controls that monitor these processes. Consider whether the appropriate responses are being taken care of these shortcomings or weaknesses and then take a look at all the findings as a whole.

Corporate Governance Compliance

Corporate governance refers to a rule book of procedures and policies that is used to determine the overall performance and direction of any company. Mostly, senior executives or board members use this approach to direct and control an organization. This compliance is conceived to ensure that directives, instructions, and strategies are carried out effectively. On the other hand, compliance is a term used to describe the process through which businesses showcase they’ve conformed to requirements in contracts, regulations, policies, and laws.

Defining Standard Operation Processes

Standard operating processes are documented procedures that a company states to ensure products and services are delivered on time. The standard operating process aims to achieve efficiency, quality output, and uniformity of performance while reducing miscommunication and failure to comply with industry regulations.