Audit & Assurance

The purpose of a Statutory Audit is to determine whether an organisation provides a fair and accurate representation of its financial position by examining information such as bank statements, accounting and book keeping records and financial transactions. We undertake Statutory Audit of both Public and Private Companies, Banks, Financial Institutions, PSUs, LLPs, Partnership Firms and Sole-Proprietorship Firms.

The role of an Internal Audit is to provide assurance that a Company’s Risk Management, Governance and Internal Control Processes are operating effectively. An effective Internal Audit Service will identify major strategic risk, but also help mitigate it. We can help your organisation identify and take action to protect itself from the greatest risks to its strategy, finances and operations.

Whether it is a regulatory requirement or not, all organisations should place internal audit at the core of their governance and control frameworks. In short, this is so that the Board and senior management can be confident there is adequate assurance to continue operating in an informed and sustainable way. Over and above this, expert control related advice can be deployed where needed

We typically work with our clients to provide: 
A fully outsourced internal audit service – Where we will oversee all of your internal audit function and requirements, helping to identify and manage risks; or 
A co-sourced internal audit service – Where we bolster your existing internal audit function with experienced internal auditors, to help fill any resource and knowledge gaps. 

It is essential to conduct financial statement audits by every business to increase their overall productivity and profitability. We offer our clients comprehensive financial and cash flow auditing services with impeccable advisory support as and when required. The approach followed in Financial Statement Audit include:
Planning and Risk Assessment: Our team follows full-fledged plans and procedures to carry out any financial statement risk audit. They tend to identify any possible chances or risks which could have been a reason causing errors in the financial statements.

Testing of Internal Controls: We tend to analyze all the internal controls duly adopted and followed by our client business, critically. Through such analysis, we aim to remove any possible misstatements or errors in the company’s financial statements.
Substantive Testing: During the Financial statement audit, we thoroughly test and examine all assets of the company physically, if any such requirement arises. We cross-check the figures recorded in the financial statements with the actual documents and records of the company. We also verify and confirm the third-party transactions to eliminate even a remote possibility of any error in the financial statement.

Audit reports are prepared strictly in accordance with the rules and regulations defined by the Government agencies. The complete audit process is IT enabled and review and documentation is carried out through software.

Agreed-upon procedures are performed in relation to financial information in line with SRS 4400 issued by ICAI. The scope of an AUP engagements limited to the elements of your business you have questions about. Common examples of an AUP engagement are verifying inventory, collateral, or receivables and testing processes or records against established criteria. Sometimes third-party organizations require the client to report on certain agreed-upon procedures – such as the veracity of having followed the covenants in an agreement or having met required parameters. AUP engagements are very efficient because they are tailored to specific client’s needs. Procedures and tests are sufficiently detailed so as to be clear and unambiguous, and discussed and agreed in advance with the engaging parties so that the factual findings are useful to them and, depending upon the engagement, others to whom the report is made available. AUP Report does not express a conclusion, and therefore it is not an assurance engagement in the technical sense.