| AUDITING ( Statutory audit ) |
The principal objectives of the Statutory Audit is to ensure that the financial statements i.e. the Balance Sheet, Profit & Loss Account and Cash Flow Statement give a true & fair view and are free from any material misstatements.
Our approach to Statutory Audit of the financial statements is to provide reasonable assurance that the accounts have been prepared in accordance with the Generally Accepted Accounting Principles (GAAP) and is free of any misstatements, errors, and discrepancies. In addition to the traditional statutory audit, we also help the clients by monitoring organizational ethics, conducting effective reviews of operational and financial performance, assessing the quality, economy, and efficiency of their operations and suggesting continuous improvement strategies |
| AUDITING ( Stock audit ) |
- Verification of Stock Records (quantitative)
- Physical Verification of stock units
- Reconciliation of accounts
- Setting Stock Audit parameters.
- ABC (Activity Based Control) Analysis
- Valuation of stock.
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| Tax Audit Income Tax law |
| We carry out tax audit compliance as mentioned under section 44AB of the Income Tax Act, 1956. |
| AUDITING ( Internal audit ) |
| Our emphasis is on ensuring strong internal control systems to minimize the risk of accidental or deliberate errors and omissions. Safeguarding of assets, adequate division of authority over key control areas and compliance with internal operating policies and guidelines are other focus areas of our procedures. We lay emphasis to the following: |
- Money handling and payment authorization policies of the organization
- Find areas of concern which need further investigation
- Carry internal audit of specified companies as per legal requirement.
- Assist companies in placing reports before audit committee.
- Carry periodic review of account.
- Increasing the effectiveness of reporting system.
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| AUDITING ( Concurrent audit ) |
- Checking on an ongoing daily basis all the indicative aspects of the banking and other operations to ensure that Branch is adhering to the Bank's laid down Systems & Procedures.
- Scrutiny of Debtors
- Initiating MIS
- Maintenance of Stock & Accounting Records.
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