Auditing, Assurance and Due Diligence:
Services are at the core of any Financial Management setup. It ensures proper working of the organisation according to laid down internal controls and also the efficiency and effectiveness of the controls itself. At Avinash Agrawal & Associates, we have necessary knowledge and experience to help your organistaion with complex financial accounting issues related to matters such as valuations, pensions and share plans, listings, IFRS conversions, and corporate treasury and company secretarial functions. We provide a range of audit and advisory services to assist clients in achieving their business objectives, managing their risk and improving their business performance.
In addition to above, we are leaders in the development of non-financial performance reporting, helping our clients respond to the need for greater transparency, improved corporate governance, and business models based on the principles of sustainability.
Our range of Auditing n Assurance Solutions include:-
In simple terms statutory audit in India is equated with Audit under the Companies Act. Every company incorporated under the companies act is required to get its accounts audited by a Chartered Accountant in Practice to ensure true and fair view of the accounts. Further, the auditor has to ensure compliance with various provisions of the Companies Act. Statutory Audit ensures reliability of annual accounts of the company for various consumers of Accounts of the Company like government, shareholders, debtors, creditors, bankers etc.
The complexity of Statutory Audit Function has increased manifolds during recent times. Globalisation, Fast Changing Business and Statutory environment combined with need for synchronisation with various global accounting standards and ever increasing reliance on audited accounts by a variety of interested parties has put ever increasing responsibilities on the shoulders of any statutory auditor.
Our statutory audit team consist of ever improving set of skilled individuals trained extensively for conducting auditing function. Our auditing team is trained and updated on the ever changing compliance requirements to stay ahead of the curve.
Our statutory audit department is geared to conduct audit under any applicable statute along with complying with various global standards to ensure usability of audited accounts for most of the interested parties like financial institutions, shareholders, directors, investors, government, bank and general public at large.
Tax Audit is a compulsory audit under the Income Tax Act in India which is conducted if the total turnover of a person exceeds Rs. 50,00,000 for professionals and Rs. 1,00,00,000 (business) and Rs. 2,00,00,000 (Business not opting for Section 44AD) persons other than professionals. Tax Audit has to be conducted by a Chartered Accountant appointed by the person itself. Tax Audit Report is given by the Chartered Accountant to the person in form 3CD prescribed under the Income Tax Act. At the time of filing of the return of income relevant data from the Tax Audit Report has to be filled in the Return of Income.
Our Audit Department provides tax audit services to our clients upholding the highest standards of auditing and provides a comprehensive tax audit report based on the requirements of the Income Tax Act.
Technological innovation, globalization, complex regulation and increased accountability at the senior management and board levels have significantly changed the competitive landscape today. Risk management has become increasingly complex due to the new "Network economy" and the emerging risks of e-business driven by the need for online security and customer privacy. The complexity is further exacerbated by an increasing need for knowledge of local laws and customs, unprecedented complexity of the regulatory environment, evolution of trading platforms and markets, pervasive nature of IT, requirement for better risk reporting, increasingly integrated and comprehensive risk management solutions and shortage of skilled personnel.
Our Enterprise risk services practice helps clients manage risk and uncertainty, from the boardroom to the lowest levels in the organisational hierarchy. Our professionals provide a broad array of services that allow clients around the globe to better measure, manage and control risk thereby enhancing the reliability of systems and processes throughout the enterprise.
Risk management is a big concern for both audit committees and senior management in corporate internally. Our experienced audit professionals take a risk-based approach to internal audit with a view to help clients improve performance and operating efficiency. We work to build internal audit into a strategic and productive tool in today's corporate governance environment. We go beyond traditional fundamentals and add tangible value to address concerns in risk management, enhance internal controls, execute business plans and meet governance responsibilities. The internal audit function needs to walk a fine line between providing assurance and consulting to management without impairing its objectivity and independence.
Today Internal Audit is not just an audit of Financial working of an organisation. It has evolved to become a tool in the hands of management to ensure proper working of any function of the organisation be it production or sales or finance or human resources.
Over the time the role of Internal Auditor has widened from just ensuring the correctness of financial system of any organisation to include consultative processes like advising on better utilisation of organisations resources, better management of financial as well as non-financial functions etc.
Our Internal Audit Department strives to ensure that Internal Audit is conducted with the highest standards and auditing procedures to ensure total compliance of client's requirements.