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Audit & Assurance

  • Our auditor audits the financial records and statements of a firm. During an audit, he examines all the aspects which are relevant to profit and loss account, balance sheet, and cash flow statement.
  • Our audit services include an evaluation of internal controls and accounting systems established by the management. It helps in determining the appropriateness and sufficiency of the information contained in the books of accounts.
  • We undertake vouching of transactions to ensure authenticity and validity of transactions, arithmetical accuracy of the books maintained, and to check if revenue and capital items are appropriately classified.
  • We undertake verification of assets and liabilities appearing in the balance sheet.
  • We check if the company is carrying its business in compliance with the statutory requirements.
  • We check if the financial statements are in sync with the books of accounts and opine on the true and fair view of the state of affairs and profitability of the company.
  • When our auditor performs any duties related to auditing or providing consultancy or solutions related to the finance and accounts, he makes sure he stays within the boundaries of the duties and performs within the scope of his competence. Our auditors follow relevant accounting standards (IndAS, India GAAP, or IFRS) as per the terms of engagement.
  • GST Audit
  • Statutory audit
  • Internal Audit
  • Concurrent Audit
  • Management Audit
  • Compliance Audit
  • Compliance Audit
  • Forensic Audit
  • Information system audit
  • Tax Audit

What Is Auditing?

Accounting and auditing are two crucial functions for any business, whether small, medium, or large. Accounting includes recording financial transactions and preparing financial statements for the readers to draw meaningful conclusions and take economic decisions.

Audit services aim to carry out a critical examination of the books of accounts and financial statements maintained by a business to determine their accuracy and providing an opinion if they represent the true and fair view of its state of affairs and profitability.

The main objective of accounting is to maintain a complete record of business transactions to analyze the financial position of the business. Auditing service adds credibility to financial statements prepared by the process of accounting.

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A well-known chartered accounting firm was founded in Ahmedabad by a group of young chartered accountants.

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Objective Of Auditing

EXPRESSION OF OPINION

One of the primary objectives of auditing is to provide an opinion if the financial statements of the company represent a true and fair view of its state of affairs and profitability. Auditor also checks the accuracy of accounting records prepared in accordance with the relevant accounting standards and statutory requirements.

INDEPENDENT OPINION

our auditors work with integrity and honesty when it comes to providing the auditing services. Without getting influenced by the management or circumstances, the auditor maintains high ethical standards and expresses his independent opinion on the financial statements.

PREVENTION OF FRAUD

Auditing detects the error from the grass-root level. Auditing services help in the discovery and correction of the errors and ensure the accuracy of the books of accounts. However, the statutory auditor, despite following a risk-based auditing approach, may not be able to detect carefully planned frauds, which is one of the limitations of auditing

FAQ

General Question

There are broadly three types of audits namely, internal audit, statutory audit, and tax audit.
Internal audit focuses on the examination of checks and balances of the operational aspects of the company. The auditor evaluates internal controls and corporate governance of the company and makes a risk assessment based on it. It results in the elimination of unnecessary processes and enhanced control over day to day working of the company and thereby higher operational efficiencies.

Every registered business must get its accounts audited once in the financial year if the turnover exceeds Rs.2cr from the sale of services and goods.

A well-known accounting firm was founded in Ahmedabad by a group of young accountants. The team is comprised of committed individuals with knowledge in a variety of company demands.

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