Our Services
Focused solutions customised as per your needs
Audit & Assurance Services
Financial statement is a key document that provides the financial information to various stakeholders. Audit of such financial statements is a matter of great responsibility. Various laws require audit to be carried out and such a key responsibility is entrusted to Chartered Accountants. As a Firm of Chartered Accountants, we carry out audits prescribed under the following laws to name a few:
- Companies Act, 2013
- LLP Act, 2008
- Income Tax Act, 1961
- GST Law
- Societies Act of various states
- Trust Act
Our clientele come from various industry sectors and various ownership compositions. We provide audit services that are customised to different legislative requirements, industry specifications and ownership compositions. Our team of auditors believe in detailed planning before commencing the audit, maintaining total independence and scepticism throughout the process of audit.
Our Approach
Initial Assessment
- Conducting Engagement formalities
- Understanding the business and revenue model, business process and controls
- Technical understanding and evaluation of all the technology enabled processes and IT infrastructure
Audit Planning
- Based on our understanding of business, design an audit programme and strategy
- Develop a detailed audit plan
- Engagement Team planning
Execution
- Performing various audit processes as governed by Standards on Auditing
- Review of financial statements from various parameters required under the law and practice
- Performing verification of financial statements for compliance with applicable Indian GAAP
- Audit documentation
- Our entire audit process is supported by Advith ITeC – a backend technology driven process-oriented platform and a well qualified team
Finalising and Reporting
- Discussing audit observation with the Finance teams and the management
- Deciding and evaluating reporting requirements
- Issuing Limited review report as required by the management and
- Issuing audit reports as required under respective legislation or engagement
Our client delivery is assisted by an IT enabled virtual platform - Advith ITeC which uses cutting edge technology to deliver efficient and timely results.
Internal Audit
Internal audit involves assessing effectiveness of various controls established in an organisation. Our internal audit process involves:
- Understanding the controls and procedures put in place
- Undertaking risk assessment of various processes
- Identifying and monitoring Key Risk indicators
- Data analysis to corroborate Key Risk indicators and preparing a Risk Control Matrix
- Understanding IT infrastructure and assessing its impact on the processes
- Designing and recommending solutions to mitigate Key Risk factors
- Through our internal audit practice, we help clients put in place a strong process driven approach for their key areas of operations.
Certification
Various statutes require assertions to be made regarding compliance of certain requirements. Banks, financial institutions, customers, Government Organisations require Certificate to be issued by a Chartered Accountant authenticating such assertions. We carry out such certification with due care and in strict compliance with the guidance and standards set by Institute of Chartered Accountants of India. A sample list of certificates that we carry on a regular basis includes:
- Networth certificate
- Certificate under Real Estate Regulation and Development Act
- Ad hock Certificate required for applying for tenders with various Government departments and PSUs
Valuation
Our valuation services help clients to identify the value of their tangible assets, intangible asset, or enterprise as a whole. Valuation is a legal requirement in some cases and maybe a commercial or decisions making requirement in some situations. Since valuation is a mix of art and science, it can be subjective and controversial. Our valuation approach involves independent and careful assessment of the value drivers and associating valuation based on such value drivers. We assist various industry sectors in carrying our valuation as required for:
- Mergers & acquisitions
- Taxation
- Arbitration and litigation
- Financial reporting
- FEMA and Corporate Law