Business entities in India are subject to a plethora of audits. While some audits such as Tax audits under the Income tax Act, and audit under the Goods & Services Act, are prescribed on the basis of turnover, audits of companies incorporated under the Companies Act, banks carrying on banking business and companies carrying on Insurance business amongst others, are mandated by statute that governs the working of these entities. Our firm undertakes these audits to aid business entities in India comply with the requirements of various statutes in terms of furnishing of various reports after due verification of the financial transactions.
In addition we also undertake concurrent audit of Nationalised and Co-operative banks which are conducted on ongoing basis to detect errors or inconsistencies with a view to assist management in taking timely corrective action and minimize losses. Besides, internal audit, as an independent function within an organization can held achieve its business objectives and goals by evaluating its activities on a continuous and concurrent basis, in turn leading to reduced costs of compliance. Our specialized team assists clients in achieving their stated business objectives by advising on viable business decisions.