Audit & Assurance
Audit & Assurance
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What is Audit & Assurance & Why It’s Important ?
What is Audit & Assurance & Why It’s Important ?
The process of reviewing a business's financial records, operations, and compliance to guarantee accuracy, transparency, and dependability is known as audit and assurance. An audit entails a third-party examination of financial statements to confirm their correctness and regulatory compliance. To increase confidence and trust among stakeholders, assurance offers an unbiased evaluation of both financial and non-financial data.
Why Is It Important ?
Why Is It Important ?
Ensures Financial Accuracy
Regulatory Compliance
Builds Credibility & Trust
Enhances Decision-Making
Fraud Prevention & Risk Management
Improves Operational Efficiency
Here’s a List of Services
Here’s a List of Services
1. Statutory & Financial Audits
➣ Statutory Audit – Ensuring compliance with regulatory authorities (Companies Act, LLP Act, etc.).
➣ Tax Audit – Conduct audits as per Income Tax Act requirements (Section 44AB).
➣ GST Audit – Reviewing GST compliance and filing audit reports (if turnover exceeds the threshold).
➣ Internal Audit – Identifying financial and operational risks within an organization.
➣ Stock Audit – Verifying inventory records and stock valuation for businesses.
2. Assurance & Compliance Services
➣ Due Diligence Audit – Examining financial records for mergers, acquisitions, and investments.
➣ Forensic Audit – Detecting fraud, irregularities, and financial mismanagement.
➣ Compliance Audit – Checking adherence to government regulations, tax laws, and business policies.
➣ Bank & Financial Institution Audits – Conduct audits for loan approvals, NPAs, and compliance checks.
➣ Risk & Process Assessment – Helping businesses identify financial and operational risks.
3. Specialized Audit Services
➣ CSR Audit – Ensuring companies meet Corporate Social Responsibility (CSR) obligations.
➣ Fixed Asset & Depreciation Audit – Verifying assets and their valuation.
➣ Revenue & Expenditure Audit – Examining revenue and expenses to identify fraud.
➣ Payroll & Employee Benefits Audit – Ensuring compliance with labor laws, PF, ESI, and gratuity.
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