Audit and Assurance Services
We do audit and assurance services as per the standards issued by the Auditing and Assurance Standards Board set up by the Institute of Chartered Accountants of India.
Statutory audit In India, statutory audit for corporate entities is insisted by the Companies Act. Statutory audits of Non-corporate entities are also required in some cases, as per various regulatory laws concerned.
Under this area, we do :-
- Statutory audits of corporate entities.
- Statutory audits of Non-corporate entities.
- Statutory branch audits for public sector banks.
Tax audits These audits are conducted to ensure correctness of the information provided in the tax returns filed by an assessee.
Under this area, we do :-
- Audit under the income tax law when business turnover exceeds specified limits.
- Audit under GST law when business turnover exceeds specified limits.
- Audit under the income tax law to claim tax exemption by making non–profit organizations.
- Special audits as per the direction of tax authorities.
Internal auditIn India, internal audit is statutorily insisted by the Companies Act in all listed companies, some of the unlisted public companies and private companies which are covered by specified criteria. Though not statutorily required, a large number of non-corporate entities opt for internal audit as a part of their internal control.
Under this area, we conduct:-
- Internal audit of business entities
- Internal audit of non- profit organizations
- Internal audit of governmental agencies
Concurrent audit In concurrent audit, the auditor verifies the transactions of the entity on a daily basis and reporting periodically.
Under this area, we do :-
- Concurrent audit of branches of public sector banks.
- Concurrent audit of branches of financial institutions.
Stock audit It is an audit of inventories in business entities with an aim to ensure the existence, correctness and valuation of inventories during a specified period.
Under this area, we do :-
- Stock audit on behalf of lending banks and institutions.
- Stock audit on behalf of management.
Due diligence audit It is an audit as per the direction of lending institutions to ensure the credibility of their customers’ businesses.
Forensic audit It is an audit with the objective of unearthing frauds.
Under this area, we do :-
- Audit on behalf of management.
- Audit as per the direction of courts of law.
- Audit as per the direction of governmental authorities.
- Investigation into special matters of importance.
Certification of financial statements Certification of financial statements is required as an attestation function for various purposes.
Under this area, we certify :-
- Financial statements for stakeholders, lending institutions, funding agencies, governmental authorities, etc.
- Net worth / income certificates for raising loans from lending institutions.
- End use certificates for loans availed.
- Fund utilization certificates.
- Income / net worth certificates for foreign travel.
- Income / net worth certificates for studentship abroad.
- Certification of capital investments for availing grants and subsidies.
- Certification of payment of tax for repatriation of funds outside India.
Accounting services
We undertake accounting services in both manual and computerized system.
Under this area, we do :-
- Basic data entries
- Accounting supervision
- Installation of appropriate accounting software
- Review of accounting documentation
- Monitoring data entry
- Financial reporting periodically
- Monitoring statutory compliances
- Periodical review reports
- Cash flow / fund flow reports
- Inventory valuation
Income Tax consultancyUnder this area, we do :-
- Tax planning for salary package, capital gains tax, business profit tax, transfer pricing , etc.
- Income tax returns filing
- TDS returns filing
- Assessment proceedings
- Appeal proceedings
- Search, seizure and survey proceedings
- Tax litigation
Goods and Services Tax (GST) consultancyUnder this area, we do :-
- GST registration services.
- Filing of GST returns - monthly, quarterly and annually.
- Assessment proceedings.
- Appeal proceedings
- GST advise and training
Management consultancyBoth business organizations and non-profit organizations often require expert services for decisionmaking in planning, control and appraisal and value addition.
Under this area, we do :-
- Corporate advisory services
- Capital structuring
- Pricing decisions
- Profit planning
- Cost control
- Retainer services
- Investment advisory services
- Risk management
- Transfer pricing in divisionalized units
- Advice on acquisition, merger, absorption, joint venture, dissolution, etc.
- Arranging loans and funds
- Business plans
- Viability analysis
- Feasibility studies
- Project reports
- Evaluation and appraisal of projects
- Business valuation
NPO ConsultancyMany non-profit organizations such as charitable and religious institutions require services for formation of proper constitution, taxation, legal compliances, fund raising, project management, etc.
Under this area, we do :-
- Formation of charitable companies, charitable / religious trusts, societies, associations, etc.
- Registration u/s 12AA / 12AB of the Income Tax Act for getting tax exemptions and renew the same on due dates.
- Obtaining approval u/s 80G of the Income Tax Act for exempting donations to charitable institutions and renew the same on due dates.
- Registration under the Foreign Contribution Regulation Act (FCRA) and renew the same on due dates.
- FCRA returns filing.
- Audit under FCRA.
- Representing before income tax and other authorities.
- Advice on project management
- Preparation of project reports for raising funds from funding agencies.
- Liaison with funding agencies and governmental agencies.
Non Residents ConsultancyNon residents may require expert advisory services for their investment decisions and tax planning.
Under this area, we do :-
- Preparation and filing of Income Tax Returns
- Tax advisory services
- Identifying business opportunities / projects in India for non residents.
- Business setup services in India for home returned NRIs.
- Setting up of appropriate constitution of business organization - such as sole trader, partnership, LLP, OPC, limited company, etc.
- Investment advisory services
- Inward /outward remittances
- Compliance with RBI regulations
- Obtaining approvals and clearances from Reserve Bank of India, Foreign Investment Promotion Board and governmental departments.
- Sourcing of funds – debt & equity
- Business alliances
- Feasibility studies
- Project reports
- Joint ventures
- Design and implement accounting system
Foreign trade consultancy Foreign trade is regulated by the government through the strict adherence to foreign trade regulations.
Under this area, we do :-
- Advice on foreign exchange transactions, Foreign Direct Investments, External Commercial Borrowings, external payments, overseas investments, etc.
- Advice on transfer pricing policy and assist in transfer pricing documentation.
- Review of international transactions and business models to make them tax effective
- Advise on constituting Permanent Establishments
- Assist in repatriation of funds
- Support in obtaining Foreign Tax Credit
- Planning for lower withholding taxes
- Assisting to avail export incentives, subsidies, rebates and refunds
Other servicesThere are several other services permissible to do by chartered accountants as per the Regulations of the Institute of Chartered Accountants of India.
Under this area, we do :-
- Formation of companies, LLPs, co-operative societies, partnership firms, etc.
- Arranging PAN, TAN, DIN, digital signature, etc.
- Arranging Import Export Code, PAN, TAN, DSC, DIN, etc.
- Arranging patents and trademarks
- Secretarial services
- Arbitration services
