AUDITING & ACCOUNTING
Our professional accountants offer auditing services, thereby, assisting organizations in their operational and financial reporting.
What are Audits
Audit is an independent examination of the financial information of the entity. Organization present various reports to third party users, who make major investment and other decisions based on what these reports convey. Auditors conduct study of all the reports presented by the organization to end users. The audit needs to be absolutely thorough and objective.
The Firm's audit approach is business oriented. It focuses on an understanding of the client's business much deeper than the knowledge of the accounting system and records on which auditors have traditionally concentrated. Our audit focuses on the substance of the underlying business rather than just the financial statements; we use our knowledge of the business and consider other services we provide in determining our audit procedures and appropriate sources of audit evidence; we use information we obtain from other services we may have performed during the year to offer constructive advice to management. Our focus is, therefore, both industry specific and client specific.
- The auditors have to make sure that the company's financial statements conform to accounting principles & statutory requirements if any.
- The auditors need to ensure the true and fair view of the financial position and the operating results presented to third party users
- The auditors can also review proposals that are to have an impact on future financial position of the entity.
Every company or a co-operative society registered in India has to get his accounts audited from a chartered accountant every year. We conduct such statutory audit for the companies / co-operative societies
Every assessee, whose turnover of a business exceeds Rs.40 Lakhs or total receipts from any profession exceeds Rs.10 Lakhs in any previous year, is required to get his accounts audited and report as per section 44AB of the income tax act is to be filed with the Income tax department. We have a team of professionals who conduct such audits.
Internal Auditing / Concurrent auditing:
For in depth checking of day-to-day transactions and formulating robust systems in place, large business organizations require internal audit. The companies where the control and ownership is different the internal auditing is necessity. We have talented staff to conduct such audits.
Physical verification of Fixed Assets/Inventory/Stock in trade:
Normally every company physically verifies its fixed assets and stock in trade once in a year through an independent agency.
Accounting & Valuations
We provide following accounting services to large companies as well as small/medium enterprises:
- Advice on accounting issues and provide opinions.
- Assistance in consolidation of accounts and preparation of financial statements.
- Preparation of financial statements as per GAAP and other international accounting standards
- Preparation of projected financial statement.
- Valuation of goodwill, valuation of business, brand valuation etc.
- Assistance in designing accounting software or selection of a suitable ready-made software.
- Study of the existing system of accounting and suggestions for improvement.
- Assistance in devising Accounts Manual: to act as a guideline on Accounting Policies, Procedures and Systems adopted by a Company, Designing Chart of Accounts etc.