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Audit And Assurance

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AUDIT AND ASSURANCE

In financial reporting engagements, the firm believes that independence, in fact and in appearance, is to be maintained in all engagements where it is required or professionally warranted. Particular attention is to be directed to understanding the entity's business and the environment in which it operates, and to ensuring that any specialized knowledge required by the engagement is appropriately brought to bear. Accounting issues are to be resolved based on our understanding of the substance of the underlying transactions, not their form. An attitude of healthy professional skepticism is maintained. Clients are urged to adopt accounting and reporting practices that we believe are appropriate in the circumstances.

Auditing is a highly complex process and hence to deliver the quality audit services we look beyond the traditional ways and uses a combination of tailor-made systems and controls to obtain audit evidence ensuring adherence with the various statutory provisions, across all organizations.
In delivering audit and assurance services, we adhere to highest level of independence, professional, objectivity and technical standards.
Our dedicated team conducts the audit keeping in mind the latest amendments, guidance notes, circulars and accounting standards.

1. Statutory Audit:

ACCUFIN performs Statutory Audit of both Public and Private Companies, Banks, Financial Institutions, PSU's, firms and Sole-Proprietor's. A Statutory Audit of the financial statements requires an auditor to provide reasonable assurance that the accounts and financials have been prepared in accordance with the Generally Accepted Accounting Principles (GAAP) and Standards on Auditing (SAs), and that they are free from misstatements and errors.

Our team uses a combination of tailor-made systems and controls to obtain audit evidence ensuring adherence with the provisions of Companies Act, 2013 across all organizations including those that are held by the government, publicly listed and privately held. It also fulfils the statutory assurance function for non-corporate entities based on the applicable statute and laws relevant to them.

Risk based Audit Program and Sample Techniques.
We follow materiality concept
Primary auditing / cross checking.
Compliance with Indian Accounting Standards (IAS).
Use of analytics and statistical tools.
We emphasize on communication with auditees/clients; whether personally or/ and written in formal communication.

2. Tax Audits:

A Tax Audit involves an expression of the tax auditors' opinion on certain financial details, given by an assesses to enable an assessment of its tax, by the Tax Authorities. Our endeavour is to help our clients undertake a correct assessment of their tax by reviewing the incomes chargeable to tax, disallowances and deductions there from, under the various provisions of Income Tax Act, 1961.
Our dedicated team of trained professionals conducts the audit keeping in mind the latest judicial pronouncements, amendments, circulars, notifications and tax accounting standards notified by the CBDT, as applicable for publicly listed, privately held, and other organizations.

3. Our Differentiators:

Skilled professionals with in depth understanding of relevant accounting guidelines and principles. Past associations with Big 4 consulting firms and subject matter experts.
ACCUFIN is aware that the integrity and reputation of a client's management could reflect on the reliability of their accounting records and financial representations and, therefore, on the Firm's reputation.