Audit and Assurance Services
Audit and Assurance services are essential for maintaining transparency and accuracy in financial reporting. We provide these services to ensure that a company's financial statements are a true and fair representation of its financial position. These services enhance the credibility of financial information, helping stakeholders make informed decisions.
Types of Audits:
- Statutory Audit:
- Mandatory for all public and private limited companies as per the Companies Act.
- Ensures compliance with legal and regulatory requirements.
- Internal Audit:
- Conducted to assess the effectiveness of internal controls, risk management, and governance processes.
- Helps in identifying areas of improvement within the organization.
- Tax Audit:
- Required under the Income Tax Act for entities exceeding a certain turnover threshold.
- Ensures compliance with tax laws and regulations.
- Information Systems Audit:
- Evaluates the controls and security of an organization’s IT systems.
- Ensures the integrity and reliability of information systems.
- Operational Audit:
- Reviews the efficiency and effectiveness of operations.
- Aims at improving organizational performance.
- Compliance Audit:
- Assesses whether an organization adheres to regulatory guidelines, standards, and policies.
- Ensures compliance with applicable laws and regulations.
- Management Audit:
- Evaluates the performance of management in carrying out corporate policies.
- Focuses on improving management efficiency and effectiveness.
- Due Diligence Audit:
- Conducted before mergers and acquisitions.
- Evaluates the financial health and risks of the target company.
These diverse types of audits provide comprehensive assurance services, helping organizations maintain robust financial health and operational efficiency.