Our engagement team provide audit and assurance solutions that help our clients not only their reporting requirements but guide them to establish a control over the financial reporting and internal financial control system. Our services provide high level of assurance to the stakeholders and those charged with governance in relation to the reliability of the financial reports and results prepared by the management.

Tax audit is an examination and verification of financial accounts and records under Sec 177 as per Income Tax Act, 2001. We conduct Tax Audits required as per Income Tax Act, 2001. As per Sec 177 we prepare report as per “Tax Audit Management System”. We have expertise in an examination of tax transactions or affairs undertaken by them as per income tax Act like declaration of taxable or assessable income, tax deduction, tax reductions which claim in income tax returns.

Scope and Objective of Internal Audit

The scope and objectives of internal Audit are dependent upon the size and the structure of the
entity and its management’s requirements.

The internal Audit operates typically in one or more of the following areas:

• Review of the accounting system and related internal controls.
• Examination of the management of financial and operating information.
• Examination of the effectiveness and efficiency of operations including the financial controls
  of an organisation.
• Physical examination and verification.

Tax Audit Procedures
A tax audit is divided into three main steps, which are as under;
First Stage : Control – Second Stage: Reply and dialogue – Third Stage: the litigation stage

Statutory Audits:

Statutory audit is a providing true, fair & accurate representation of financial position of a company by respective laws and regulations in the country. Our main objective of conducting statutory audit is to determine whether an organization is providing a fair and accurate representation of its financial position by examining information such as bank balances, bookkeeping records and financial transactions. We conduct Statutory Audits of companies incorporated public and private companies, State Owned Companies, Banks, Financial Institutions and all business entities and charitable institutions.

Internal Audits:

Internal Audit is an independent management function, which involves a continuous and critical appraisal of the functioning of an entity with a view to suggest improvements thereto and add value to and strengthen the overall governance mechanism of the entity including entity strategic risk management and internal control system.” Internal Controls are systematic measures (such as reviews, checks and balances, balances, methods and procedures) procedures) instituted by an organization to:

1.Conduct its business in an orderly and efficient manner.
2.Safeguard its assets and resources.
3.Deter and detect errors, fraud, and theft.
4.Ensure accuracy and completeness of its accounting data.
5.Produce reliable and timely financial and management information.
6.Ensure adherence to its policies and plans.

We have expertise in conducting internal audit of various entities and assist our client to understand the various aspects of internal control and reporting.