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Audit & Assurance Services

An audit is not merely a formality; it is a necessity to protect your business and encourage it to thrive in constantly evolving regulatory environment. Early warnings, open communication and pragmatic solutions of issues are essential features of audit approach adopted by Srifintax.

By taking the time to gain a thorough understand of the client’s businesses and integrating rigorous risk assessment with diagnostic processes in audit procedures tailored to the specific audit, our firm maintains excellent relationships with clients. This quality-led approach by team members ensure an intelligent and constructive assurance services are provided to every client.

Through robust audit tools, resources and procedures, Srifintax delivers high quality audit services, adhering to the highest standards of independence, ethics, and professional objectivity while applying technical excellence. As part of our strategy, continuous audit quality improvement, service performance and delivery to clients is continuously assessed.

Statutory Audits

We believe the statutory audit should be viewed as an opportunity, not an overhead. It is a legally required review of the accuracy of a company’s or governments financial records. The purpose of a statutory audit is the same as the purpose of any other audit i.e. 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 of both public and private companies, banks, financial Institutions, PSU’s, firms and sole-proprietors.

Tax Audit

To prepare report in Form 3CA/3CB including annexure in Form 3CD as per div 44AB of the Income-Tax Act. We assist our clients with their tax audit by:

  • Reviewing the tax authority notice or inquiry and explain what it means
  • Researching issues involved
  • Assisting you in assembling documents and records for the tax audit
  • Reviewing the tax audit findings and explaining them to the client
  • Explaining the appeal process and other options available in the event client disagree with the tax authority’s findings

Internal Audit

Focus is to ensure strong internal control systems to minimize the risk of accidental or deliberate errors and omissions. Safeguarding of assets, adequate division of authority over key control areas and compliance with internal operating policies and guidelines are other focus areas.

GST Audit

Audit under GST means the examination of records, returns and other documents maintained by the taxpayer to check the accuracy of turnover declared, taxes paid and to assess the compliance with the provisions of GST. We provide our esteemed services for Goods and Service audit in India by fulfilling the demands of different sectors.

Process / Transaction Audit

A process audit is an examination of results to determine whether the activities, resources and behaviors that cause them are being managed efficiently and effectively.

Management Audit

To assess the systems, methods and policies followed by an entity’s management in the administration and the use of resources, tactical and strategic planning, and employee and organizational improvement.

Stock Audit

It is an area of specialization and core competence for AJSH with unparallel reach and PAN India network. As large number of companies are operating across borders through multiple locations with various channel partners, ensuring a watch over their physical assets is a challenge. We offer focused services to such companies to keep them assured of their assets. Stock audits are also carried out for banks and financial institutions which have extended credit to businesses against physical goods and assets. The objective is to ensure that the security against which funds are lent by the bank is safe and valued correctly.

Due Diligence

We assist clients in conducting financial, legal and accounting reviews in case of mergers, acquisitions and investments. A sound understanding of local laws, regulations and accounting practices enables us to vet all critical issues in detail.

Forensic / Risk Audit

Our forensic audit focuses on high risk areas and helps you strengthen internal controls.

  • Gather and analyze evidence
  • Integrate interview information with queries from databases, emails, and hard drives
  • Report our findings, review internal controls, and provide remediation options
  • Expert testimony

Frequently Asked Questions

Company audit is mandatory for all companies registered in India. Company Audit is governed by the Companies Act, 2013. Company audit has the objective of reporting the state of the company’s accounts & finance to the regulatory authority. Audit and assurance services like company audits are performed by qualified auditors who are working as an independent external party.

The audit report form has its own set of rule that is set by the Government. Rules on the appointment, change, removal of auditors has specific rules.

Compliance audit objective is to ensure that all compliances are being followed by the company or business applications to it. Compliance audit procedures ensure that the company will not have to bear the additional cost in the future for any compliances being incorrectly followed or any compliances being not followed.

Compliance in terms of labor laws, compliance in terms of companies Act, compliance in GST or compliance in income tax, it is very wide when we talk about compliance audit procedures.

The objective of the management audit is to assess the systems, methods, and policies implemented by an organization.

A management audit is not mandated by law however medium to big businesses use management audit as a tool to assess and improve their overall functions.

Audit and assurance services help in Advisory on business restructuring which auditor can figure out in the audit process internal audit process

Audit and assurance services help Figure out a plan of action as per auditor's recommendation audit service

Audit and assurance services saving of taxes by sorting out the activities which are not adding up any values Saving cost of future compliance missing or incorrect compliance internal audit

Audit and assurance services help in Prevention and detection of fraud Management Audit

Audits are the best form of internal control and fairness for any stakeholder

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