Assurance & Auditing

A risk-based approach

Effort distributed evenly across every balance is effort largely wasted. We begin each engagement by identifying where exposure actually sits — in the processes that are manual, the balances that require judgement, the areas where controls have recently changed — and direct testing accordingly.

This approach has helped our clients identify weaknesses in process and control at a point where correction is still inexpensive.

Statutory audit

Audit of financial statements under the Companies Act, 2013 and applicable accounting and auditing standards, covering companies, limited liability partnerships and other entities subject to statutory audit requirements.

Internal audit

Internal audit conducted as a management tool rather than a compliance formality. The scope is set with management and typically covers process review, control testing, identification of revenue leakage, and follow-up on prior observations.

• Process and control review across purchase, sales, inventory and payroll cycles
• Testing of authorisation limits and segregation of duties
• Verification of statutory compliance embedded in operating processes
• Reporting with observations ranked by exposure, and an agreed remediation timeline

Tax audit

Audit under Section 44AB of the Income-tax Act, 1961, including preparation and certification of the prescribed particulars.

Other assurance

• Stock and fixed asset verification
• Certification required by banks, lenders and regulatory authorities
• Agreed-upon procedures engagements on specified areas
• Management audit and operational review

Reporting

Observations are written so that directors and promoters can follow the reasoning without an intermediary. Each observation states the condition found, its consequence, and the correction proposed — ranked by exposure rather than listed in the order encountered.