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ATTESTATION, AUDIT & ASSURANCE

OVERVIEW

Our Assurance, Audit and Attestation services are aimed at assisting stakeholders who could either be money lenders or investors. C.H. Padliya & Co. offers a panoptic range of services inclusive of compilations, audits and reviews. Such services facilitate an organisation with a deep understanding of the core of business growth.

Our audit stratagem stresses on an in-depth comprehension of the clients commercial ideology, human resources and operating systems. Additionally, our audit approach incorporates ideal practices that are customised in accordance with the capacity of an organisation. Complicated issues like International Financial Reporting Standards will easily be resolved with our thorough understanding of legislations and regulations.
• Statutory Audit
• Internal Audit
• Forensic Audit
• IND AS Implementation

Most organisations such as banks, asset management firms, finance institutes and insurance organisations utilise the internal audit approach. Concurrent Audit is much the same as Internal Audit and is carried out at regular intervals. This is done to supervise the effectiveness in standard operations with statutory proclamations from time to time. Concurrent Audit usually acts as an appendage to the internal audit team, and assists it on a regular basis with factual findings.

  • Pre-Transaction Advisory
  • Corporate Tax Planning
  • Tax Holiday Planning

    • A financial statement audit is conducted to determine whether the overall financial statements are stated in accordance with specified criteria such as Indian Accounting Standard or IFRS. It becomes difficult for auditors to only concentrate on accounting affairs when the complexity in a business rises. We apply a holistic technique which involves a deep knowledge of the business that gradually inflate audit efficacy. We employ a risk based audit technique that is in complete agreement with the ISAs. Our technique is based on cycles and includes:

    • A clear comprehension of the business as well as an understanding of pertinent industry factors
    • Evaluating the risks involved and developing a desired approach
    • Concise registering of review procedures, audit planning and implementation
    • Direct and communicative process, offering added benefits with stronger internal controls
    • Ensuring higher professional benchmarks with quality control processes

    Follow up Audits are primarily regulated after the internal or external report has been submitted which is roughly after a period of 6 months. They are essentially created to plan corrective measures to be undertaken on the audit reports. The outcome of this may then be conveyed to the external auditors.

    This kind of audit is specifically designed to enhance a firms functioning. It assists an institution in achieving its goals by ushering a methodical system to inspect and better the efficiency of risk evaluation and management. It has a widened scope within an organisation and may incorporate spheres like effective functioning, accuracy of financial collaterals, inspecting and discouraging frauds, protecting assets, and productive usage of the company resources that is in agreement with the company’s rules.

    Financial institutions are expanding their credit to entities based on their stocks or book debts. This could either be done on the basis of overdraft, cash credit limit, etc. It then becomes crucial to have checks at regular intervals to establish the status of current assets, accurate attestation for statutory compliances and debt turnover scrutiny.

    The monetary statements of a firm for a given period of time are to be looked after by the Statutory Auditor. The role of the auditor here is to report all the current affairs of the company. It is a crucial tool for stakeholders to gauge the substantiality of the firm with regard to their proceedings.

    This helps in discerning revenue leakages. It could either be due to deficiency of internal control policies, frauds or errors by the personnel. It is generally conducted once or twice a year. C.H. Padliya & Co. possesses expert skill in this section, in the banking segment of the firm.

    Salaries are always the content for analytical examinations. Different frameworks are taken into consideration while regulating a Payroll Audit; such as authentication details of employees, updated information about the personnel, time worked and salary scale of employees, etc. Additionally, an introspection of the amount to be reimbursed is also a major criterion that falls under payroll audit.
    		 
         
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