Audit and Assurance

Due diligence is an investigation or audit of a potential investment or product to confirm all facts, such as reviewing all financial records, plus anything else deemed material. It refers to the care a reasonable person should take before entering into an agreement or a financial transaction with another party.

Internal audit is a dynamic profession involved in helping organisations achieve their objectives. It is concerned with evaluating and improving the effectiveness of risk management, control and governance processes in an organisation.

Here are various kinds of audit being conducted under different laws such as company audit/statutory audit conducted under company law provisions, cost audit, stock audit etc. Similarly, Income tax law also mandates an audit called ‘Tax Audit’. As the name itself suggests, Tax audit is an examination/review of accounts of any business /profession carried out by the taxpayer from an income tax viewpoint. A Tax audit makes the process of income computation for filing of return of income, much easier.

The purpose of a statutory audit is the same as the purpose of any other type of audit: to determine whether an organization is providing a fair and accurate representation of its financial position by examining information such as bank balances, bookkeeping records and financial transactions.

We help in performing statutory audit of all type of entities i.e. Proprietorship, Partnership, LLP and Comapnies

A major part of working capital requirement of any unit would consist of maintenance of inventory .Finance against such inventories by banks is generally granted in the shape of cash credit facility where drawings will be permitted against stocks of goods.

Inventory audit is also required to match the actual quantity of items in stock against the accounting records while also adjusting for differences and allowing for shrinkage so that the ledger reflects accurate values. Inventory audit will be able to reveal which physical goods or products are over- or under- stocked.

We are offering GST Audit to our clients. This includes Annual GST audit required as per the law.