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Audit Service

a. Statutory Audit

An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to ascertain how far the financial statements as well as non-financial disclosures present a true and fair view of the concern.

We provide audit services to clients majorly in Bengaluru and other parts of Karnataka. We have network with other firm to provide services outside Bengaluru. That network is ideally placed to help our clients to comply with all domestic statutory regulations.

Firms of all sizes are subject to statutory audit and the process can often be timely and complex. We at our firm work closely with our clients to build relationships and provide solutions from time to time to comply with prevailing rules & regulations that are applicable to run their business smoothly.

During the audit we are constantly considering ways to maximize efficiency and optimize client’s profits, while also ensuring that statutory auditing requirements are handled concisely, flawlessly, and as quickly as possible.

Broadly, we cover the following in Statutory Audit:

In depth study and understanding the clients business
Understanding the requirements
Understanding the statues that are specific to client
Ensuring compliance with policies, procedures and statutes.
Verification of accounts & vouchers as per the Audit Guidance as required & suggested by ICAI’s requirement & as per generally accepted accounting principles
Financial Analysis, analysis of variance and discussion
Risk Analysis and Suggesting corrections
Verification of Financial Statements
Issue of Audit Reports under various laws

b. Internal Audit

Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. Further, internal audit is a dynamic profession involved in helping organisations achieve their objectives. It is concerned with evaluating and improving the effectiveness of risk management, control and governance processes in an organization

Internal auditing activity is primarily directed at evaluating internal control. Under the COSO Framework, internal control is broadly defined as a process, effected by an entity's board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of the following core objectives for which all businesses strive:

Effectiveness and efficiency of operations.
Reliability of financial and management reporting.
Compliance with laws and regulations.
Safeguarding of Assets

We conduct the internal audit as provided above and in brief it is an :

Indepth study of existing systems, procedures and controls for proper understanding. Suggestions for improvement and strengthening.
Monthly Financial Analysis and time to time Risk Analysis
Verification voucher, books of accounts, physical verification
Reporting of critical findings
Issue of Audit Reports under various laws.