Statutory Audit Services offer engagement to examine our client’s financial statements and to evaluate the fairness of presentation of the statement in conformity with Standards on Auditing which include a review of the system of internal control and tests of transactions to the extent we believe necessary.We adopt Risk –based audit Approach which blends technical competencies with a detailed knowledge of the client and their needs. We obtain an in-depth understanding of the risks associated with each operating cycle and focus. Under this banner we offer the following audit and assurance services.
Statutory audit provides the highest level of assurance.
It is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general practice. We perform Statutory Audit for Private, Public and Government Companies under The Companies Act. It primarily includes Tax audit of Companies, Firms and Proprietary concerns under The Income Tax Act and Audit of Charitable Trusts and other associations. Our audit practice is compliant with Standards of Quality Control(SQC) set by the ICAI.
Internal audit is an oversight function, an independent appraisal activity established within an organization, and provides assurance to the shareholders, board and management by reporting on:
The effectiveness of the internal controls
Reliability of the management information systems
Management and control of the organization’s assets
And compliance with applicable legislation and regulations.
We provide internal audit solutions which range from the total outsourcing of the internal audit function to outsourcing its supervision or setting out an independent internal audit function. This is extended to advising clients to make effective use of data mining tools and computer assisted auditing techniques.
As Internal Auditors, we draw an audit plan after analysing risks and objectives of the client. We focus on Operational / Process audit and review of existing internal controls/procedures. It has ingredients of an efficiency audit. Our recommendations help in better utilization of existing resources, Cost saving and improved profitability.
Our focus is on corporate governance, understanding the organization and its processes, drawing risk based audit plans and Value Addition.We follow Standards on Internal Audit set by ICAI. Our activities are oriented towards awareness, action plan, information and monitoring.
Information System (IS) audit also includes Application (software package) review.
“Good Service, “
Ravi, DD CEO
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