Mandated by governing bodies, statutory audits are cyclic activities any eligible business has to perform. The Income Tax Law, Companies Act, Banking Laws and GST all mandate statutory audits, making this our most practiced audit and our primary offering.
While mandatory for some, you could use our help with internal audits as they help you assess the internal state of your organization. This has helped many of our clients identify the current affairs within their business and even detect any error or frauds within. Just like an annual health check-up for your company.
We offer to analyse any potential unexplored opportunities and vulnerabilities by reviewing the operational processes in the firm and making connections with its financial records to bridge the gap between the two, enabling you to clearly convey financial, operational and strategic reports to your shareholders.
Our team will assess whether the resources, assets and strategies followed by the organization is in the right shape and going in a planned direction by taking a good look into your accounts and operations. We will work with your management to provide crucial recommendations to course-correct from any deviations and help you soar ahead.
Practiced under the income tax law, this is a crucial audit for many as it can safeguard you from any unpredictable tax liability while also avoiding any possible conflict with tax authorities in the future for not having complied to regulations.
Stock audit, in general usage is considered as an important auditing term which refers to the physical verification of the inventory. However, at times, it may also involve the valuation of the inventory but it would depend on the terms of reference or the engagement letter of the assignment.
If you’re a bank, then under the Banking Regulation Act, you are mandated to get your accounts audited as a facilitator. For that, you’ve come to the right place. We at Amith & Santosh provide Bank Audit services which have specific formats for the preparation and presentation of financial statements and terms of the mandated audit