Our firm provides audit services as per the requirements under Companies Act, Income Tax Act, Banking Regulation Act, NABARD, etc
Assurance involves improving the quality and integrity of organisational information so that decision makers can make more informed decisions. It primarily focuses on reducing information risk (i.e., risk from incorrect information).
We provide the following kinds of Audit & Assurance Services:
- Statutory Audit – An audit conducted in owing to any statutory requirement in law to report the position & income statement to any government authority. For Example:
- Tax Audit under Section 44AB of the Income Tax Act, 1961
- Audit as per Companies Act, 2013
- GST Audit
- Internal Audit – These audits are conducted at the bequest of the Internal Management in order to analyse and report on the financial health & the operational efficiency of the organisation.
- Forensic Audit – An examination and evaluation of a firm’s or individual’s financial information for use as evidence in court. A forensic audit can be conducted in order to prosecute a party for fraud, embezzlement or other financial claims.
- Compliance Audit – An examination of the policies and procedures of an entity or department, to see if it follows internal or regulatory standards. This audit is most commonly used in regulated industries or educational institutions.
- Review Engagement (Limited Assurance) – In this engagement, less procedures are performed and review is conducted to support a conclusion on the financial statements in terms of whether anything has come to the auditor attention to indicated that the financial statements are not prepared in accordance with the specific accounting standard. Review Engagement provides the level of limited assurance to the users of financial statements as the result of procedure that auditors use to review of the finance statements.
- Special Audit – An audit with a narrow range of focus that only looks at a specific area of an organisation’s activities. This type of audit may be initiated by any government agency, but could be authorised by any entity, or even internally. Examples of Special Audit:
- Compliance Audit
- Control Audit
- Special Audit required by any Law or statute
- Operational Audit – A detailed analysis of the goals, planning processes, procedures, and results of the operations of a business. The audit may be conducted internally or by an external entity. The intended result is an evaluation of operations, likely with recommendations for improvement.