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Statutory Audit

The annual audit might feel like a time-consuming and expensive process. Therefore, we make sure all your onerous reporting requirements are met as painlessly as possible. We scrutinize unusual financial activity with the sensitivity and trust you place in us.

  • Internal control analysis.

  • Reporting weaknesses in the internal controls.

  • Suggestion and consulting on transactions of complex nature.

  • Drafting Audit policy according to clients’ structure and legal set-up.

  • Measuring effect of International and Indian Standards on Auditing.

  • Analyzing applicable compliances according to corporate and taxation regulations.

  • Appropriate documentation.

  • Filings of Financial Statements to various Government offices after audit.

Internal Audit

Internal Audit helps in understanding and assessing risks and evaluates the internal controls and checks. Our internal audit team can undertake an assessment of your in-house vulnerability to the malfunctioning of operations and other misconduct, and its potential impact on your business and financial statements. It helps in ensuring optimum utilization of the resources of the entity, as well as timely identification of liabilities including the ones in contingent nature.

  • Advising organizational procedures being followed.

  • Analyzing Accounting and Audit manual.

  • Practicality and viability of existing controls and areas of improvement.

  • Assessment of risks and open points.

  • Checking the controls instituted within the system.

  • Determining controls that are adequate to meet control objectives.

  • Working out possible areas of improvement.

  • Comparison of written control policies and adherence to same.

  • Legal and situational internal control advisory.

Stock Audit

A strict audit and reporting mechanism is followed by our team to make sure that every aspect related to stock is evaluated and findings are reported in a transparent manner to levels concerned. We also undertake Stock audits for banks and other financial institutions which have extended credit to businesses against physical goods and assets.

  • Physical count of stock

  • Comparison of physical and recorded stock

  • Documentation of stock (through photographs)

  • Audit of Stocks lying at outside locations

  • Verifying stock register

  • Reports on Stock pilferage/damage reports

  • Recognition of inventory and WIP

  • Advising on storage arrangements,to protect against deterioration

  • Watch on existence of numerical counts for stock, use of tag sheets

  • Use of advanced technology for stock management

  • Random checking or Sampling of Inward and Outward stock movement process

  • Identification of WIP, including stage of completion

  • Disposal/handling of obsolete stock: identification and segregation

  • Checking of sealed inventories

Forensic Audit

Forensic Accounting is an integration of accounting, auditing and investigative skills. The term ‘Forensic accounting’ was coined by Maurice E. Peloubet, in whose words “Financial statements have some but not all the characteristics of Forensic Accounting”. According to Oxford dictionary, the term ‘forensic’ means ‘of or used in law-courts’. Thus, Forensic Accounting as a special practice area provides accounting analysis that is suitable to the court and which forms the basis for discussion, debate and ultimately dispute resolution.

  • Capital expenditure review to check for overstatement of assets and compliance with contracts.

  • Reviews to check for overstatement or fictitious expenditure used to siphon out money or understate revenue.

  • Detailed analysis of physical invoices to test their authenticity and correctness.

  • Detailed review of soft data related to accounting and operations to test for any malpractice or suppression.

  • Forensic study of email boxes, to understand email culture and check for transfer of information critical to an organization.

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