Audit & Assurance

We conduct statutory audits in accordance with applicable Standards on Auditing issued by ICAI. The audit covers financial statements, accounting policies, accounting standards, related party transactions, statutory records, internal control environment, board-level compliances, Schedule III presentation and CARO reporting wherever applicable. Audit procedures are documented through proper working papers, evidence review and issue-wise conclusions before issuance of the independent auditor's report.

We conduct tax audit after reviewing books of accounts, ledgers, bank statements, statutory dues, GST data, TDS/TCS compliance, depreciation workings, related party transactions, loans and deposits, cash payments, disallowance items and other clause-wise reporting requirements. The audit report and applicable statements are prepared carefully so that income tax disclosures are accurate, supported by records and aligned with the audited financial statements wherever statutory audit is also applicable.

We design the internal audit scope after understanding the client's business, risk areas and management priorities. The review may cover procurement, sales, revenue, accounts payable, expenses, payroll, inventory, fixed assets, statutory dues, approval controls, cost-control areas, operational delays and leakage points. Observations are reported with risk rating, factual background, impact, recommendation and management action points so that the audit becomes a practical improvement tool, not merely a checklist exercise.

We review key controls around purchase to payment, order to cash, journal entries, bank payments, user access, master data creation, stock adjustments, credit notes, fixed assets and financial closing. The objective is to identify whether controls are properly designed, consistently followed and supported by adequate SOPs, approval matrix and documentary evidence. This review helps management reduce fraud risk, strengthen accountability and improve reliability of financial reporting.

We review whether statutory dues and periodic compliances are properly recorded, reconciled, deposited and supported by challans and returns. The review may cover TDS/TCS, GST, PF/ESI, professional tax, ROC-related records, vendor compliances, MSME payment tracking, expense approvals and other compliance controls relevant to the client's business. A compliance audit helps management identify avoidable interest, penalty, disallowance and documentation risks at an early stage.

Stock audits are conducted at client premises, warehouses or factories through physical counting, weighing or measurement of inventory. Physical stock is compared with book stock, ERP records and stock statements submitted to banks or lenders. We review quantity differences, valuation basis, slow-moving stock, obsolete stock, storage condition, insurance coverage and stock movement documentation. The final report highlights discrepancies, risk areas and corrective actions required.

Concurrent audit is useful where transactions need timely review rather than post-facto examination after year-end. For bank branches, it may include review of advances, documentation, KYC, cash transactions, interest calculation, charges, security documents and irregular accounts. For corporate clients, concurrent review may be applied to procurement, treasury, project expenditure, inventory movement or high-value payments. Regular reporting enables quick correction of deviations.

Process audits focus on how work is actually performed compared to approved policies or standard operating procedures. We document process flow, review SOP availability, check approval matrices, test samples, identify control gaps, review system access, examine documentation trails and assess whether exceptions are monitored. The report provides practical recommendations to reduce leakage, improve accountability, remove duplication, standardise processes and strengthen operational efficiency.

Financial due diligence covers historical financial statements, management accounts, revenue quality, profitability trends, working capital, debt, contingent liabilities, tax exposures, related party transactions, customer concentration, supplier concentration and pending litigation. The report highlights key risks, normalised earnings, major adjustments and deal-relevant financial issues so that investors, buyers or management can take informed decisions.

Forensic reviews are undertaken where there is suspicion of fund diversion, fictitious vendors, duplicate payments, inflated expenses, manipulation of stock or irregular financial reporting. We use transaction tracing, document verification, data analysis, timeline reconstruction and exception testing to identify the nature, period, quantum and possible responsibility for irregularities. The report is prepared in a structured format suitable for management action, legal consultation or further investigation.

Revenue assurance reviews help businesses identify unbilled revenue, short billing, incorrect pricing, unauthorised discounts, unsupported credit notes, delayed invoicing and collection gaps. We review contracts, approved price lists, sales orders, delivery records, invoices, credit notes, receipts and ageing reports. The review also highlights operational reasons for leakage, such as weak approval controls, delayed billing triggers or poor follow-up discipline. Quantified findings are shared wherever possible so that management can recover leakage and improve the billing-to-collection process.

We issue special purpose audit reports, utilisation certificates and assurance reports after verifying the specific information required for the engagement. These may relate to grant utilisation, lender reporting, project expenditure, regulatory submissions, donor reporting, contractual certifications or management-specific requirements. Each report is issued with appropriate scope, basis of preparation, verification procedures and limitations wherever applicable.