BEST AUDITING SERVICES IN AHMEDABAD

Auditing:

Accounting and auditing go hand in hand for a Company where both are equally important in different ways.

Accounting is the process of recording and preparing financial statements for the stakeholders to arrive at meaningful conclusions and take decisions for the company.

Auditing services is the process of conducting detailed examination of the books of accounts and financial statements maintained by the business to determine the accuracy of the recorded statements and show the proper position and profitability of the company.

Types of Audits:

• Statutory Audits:
  • Statutory audits are the audits that are required by any business for the purpose of reporting their financial statements to the government of India.
• Internal Audits:
  • Internal audits are the various types of audits conducted by the business to evaluate, optimize, and improve their own systems, practices policies, management, or infrastructure.

Auditing process:

• Determine the type of audit,
• Collection of documents,
• Analysis of documents,
• Physical check and cross checking the details of the documents,
• Summarizing the evaluation,
• Preparing the audit report.

Scope of Auditing services:

• Examining all aspects of the financial statements such as profit and loss account, balance sheet and cash flow statement,
• Examination and authentication of vouchers to validate transactions,
• Verification of assets and liabilities shown in balance sheets,
• Evaluating compliance of business with statutory requirements,
• Cross verification of financial statements with books of accounts,
• Evaluation of internal controls and accounting systems,
• Completed Audit reports certified by CA,
• Advisory services regarding accounting, planning and operations of business.

Note: All audited reports with be made following relevant accounting and auditing standards such as IndAS, India GAAP or IFRS.

Different Types of Auditing services provided:

• GST Auditing Services:
  • As a GST auditing firm in Ahmedabad, we provide the GST Auditing services wherein we provide the following services:
    • Examination of all returns, records and essential documents of the GST,
    • Evaluation of tax paid, refunds claimed and turnover declaration to determine regulatory compliance.
  • Statutory Audit:
    • Evaluation of financial statements and providing opinion regarding the accounting practices and accuracy of the statements.
  • Internal Audit:
    • Continuous evaluation of operations of company,
    • Providing advisory services for improvement of overall governance of business.
  • Concurrent Audit:
    • Systematic and timely examination of all transaction in relation to accuracy, compliance, and authenticity.
  • Managements Audit:
    • Evaluation of management and policies, systems and methods.
  • Compliance Audit:
    • Evaluation of compliance with regulatory requirements, external laws, controls, policies and procedures.
  • Forensic Audit:
    • Collection of legal evidence to be used in court of laws (financial evidence).
  • Information System Audit:
    • Audit of the information technology infrastructure of the company.
  • Tax Audit:
    • Audit of the tax statements,
    • This audit is mandatory for any business which has a turnover of INR 1crore or above under section 44AB of Income Tax Act.