Audit

Broadly, Audit involves the following :

  • Conduct an in-depth study of existing systems, procedures, and controls for better understanding.
  • Provide suggestions for improvement and strengthening.
  • Ensure compliance with policies, procedures, and statutes.
  • Conduct a comprehensive review to ensure that accounts are prepared in accordance with Generally Accepted Accounting Policies and applicable Accounting Standards/IFRS.
  • Check the genuineness of expenses booked in accounts.
  • Report inefficiencies at any operational level.
  • Detect and prevent leakages of income and suggest corrective measures to prevent recurrence.
  • Certify that the books of accounts are in agreement with the Balance Sheet and Profit and Loss Account.
  • Issue Audit Reports under various laws.

TYPES OF AUDITS CONDUCTED

  • Statutory Audit of Companies
  • Tax Audit under Section 44AB of the Income Tax Act, 1961.
  • Audit under other sections of the Income Tax Act, 1961 such as 80HHC, 80-IA, etc.
  • Concurrent Audits.
  • Audit of PF Trusts, Charitable Trusts, Schools, etc.
  • Audit of Co-operative Societies.
  • Information System Audit
  • Internal Audits.

Internal Audit

Our services provide an independent and objective assurance and consulting activity that aims to improve the operations of organizations by adding value. This involves a systematic and disciplined approach to evaluate and enhance the effectiveness of risk management, control, and governance processes. SMART BUSINESS SOLUTIONS not only offers modern assurance services but also has expertise in setting up internal audit organizations for clients and conducting peer reviews of the audit function.

Business & Management Audit

We offer Business and Management Audit services, which involve conducting audits to evaluate the performance of product and process groups in an organization. These audits include

  • Operations Appraisals
  • Manufacturing Control Systems Review
  • Supply Chain Management Reviews
  • Project Management Reviews
  • Cost Reduction and Control Programs
  • Marketing Function Audits
  • Retail Management Reviews
  • Service Function Audits
  • Organization & Manpower Studies
  • HR Function Studies
  • Financial Management Audits
  • Treasury Management Reviews
  • Working Capital Studies
  • Information Systems Audits
  • Compliance Audits
  • Corporate Governance Audits.

The findings from these audits serve as a basis for creating appropriate restructuring programs. Our range of services in this area is diverse and tailored to suit the unique needs of each company, regardless of the industry they operate in.

 
     
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