The founder partners have introduced audit of medium and small industry run under ownership of partnership, proprietorship and Companies, beside Trusts, Banks etc. The firm follows the most advanced technique in auditing including auditing programs. We use a constructive approach in auditing. For example as a result of acquiring intimate knowledge of the client's financial and administrative problems we often recommend improvements for more efficient operation, stronger financial structure and improved system of accounting and administrative controls. Our philosophy and practice is to blend the technical, the practical and the business approach in each audit engagements.
The purpose of auditing is to satisfy the users of financial statements that the accounts presented to them are drawn up on correct accounting principles together with Accounting Standards/ US GAAP/ IAS and that they represent a true and fair view of the state of affairs of the organization. This is possibly one of the most important functions of a CA where specialised training, skill and judgment are required.
Our Auditing Services Include
Under various statutes the business or entity have to get accounts audited. We carry out the same under different statues e.g. Companies Act 1956, Banking Regulation Act, Non Profit organizations, Income Tax Act, 1961 & Insurance Act etc.
Our statutory audits also includes statutory audits of banks under banking regulations act, Under Societies & Trust Laws, Investigations, Due Diligence Reviews, Special audits relating to business Reconstructions, Reorganisations, Mergers, Liquidations & Bankruptcies.
Every assessee, whose turnover of a business exceeds Rs 40 Lacs or total receipts from any profession exceeds Rs 10 Lacs in any previous year, is required to get his accounts audited and report as per section 44 AB of the income tax act we carry out the same.
Internal Auditing/Concurrent Auditing
For in depth checking of day-to-day transactions, large business organizations require internal audit.
Physical verification of fixed Fixed Assets/Inventory/stock in trade
Normally every company physically verifies his fixed assts and stock in trade once in a year through an independent agency. We have an experience of more than 25 years for conducting such type of audits for big companies.