Auditing & Assurance

Overview of Audit and Assurance Services!

  • What is an Audit?

    An audit typically involves a thorough review of an organization’s financial statements. A financial audit is an impartial and systematic assessment of these records to ensure they accurately reflect the business transactions and operations of the organization. Audits can be performed internally by the organization’s own staff or externally by engaging a professional chartered accountants’ Company.

  • What is Assurance Service?

    Assurance services are independent professional services, generally provided by chartered accountants (CAs), that involve the examination of financial documents or transactions such as loans, contracts, or agreements. These services verify the accuracy and validity of the items under review.

    Assurance services assist clients in managing risks, uncertainties, and opportunities within their business networks. By handling third-party risks, they help improve transparency, quality, and value in the information shared with the market and investors. These services support businesses in achieving sustainable growth, differentiation, and competitive advantages.

  • Audit and Assurance

    We are recognized for offering top-notch audit services in Mumbai and Navi Mumbai, providing a wide range of services, including but not limited to the following:

  • Statutory Audit
    A statutory audit is a legally required examination of a company’s financial statements and supporting records to ensure accuracy and compliance. The primary goal is to verify that the financial position of the organization is accurately represented by reviewing accounting records, bank balances, and transactions.

  • Tax Audit
    A tax audit is mandated by the Income Tax Act and involves the audit of a business’s financial records to ensure compliance with tax laws, providing necessary disclosures in the prescribed format. Our expert team works across various taxes such as Income Tax, GST, Service Tax, and Sales Tax. We are highly rated by clients as one of the best Income Tax audit preparation services providers in Mumbai and Navi Mumbai.

  • Stock Audit
    Stock or inventory audit involves the physical verification of a company’s inventory. Depending on the objective, different approaches are used for stock audits. Regular stock audits (typically once a year) ensure the physical stock matches the recorded inventory in the books, helping to identify discrepancies between actual physical stock and the register maintained by the company.

  • Revenue Audit
    A revenue audit is a two-step process that examines tax return data and cross-checks it with actual business records to ensure accurate reporting and compliance with applicable revenue regulations.

  • Internal Audit
    The objective of internal auditing is to provide assurance and consulting services that add value and improve an organization’s operations. By adopting a systematic and organized approach, it helps management achieve strategic goals by evaluating and enhancing the effectiveness of risk management, control systems, and governance processes.

  • Fixed Assets Audit
    A fixed assets audit is crucial for ensuring that the accounting of capital assets and depreciation aligns with legal standards and management objectives. This audit ensures the accuracy of the balance sheet, guarantees regulatory compliance, and enhances internal control over asset management.

  • Management Audit
    A management audit involves reviewing the operations and functions of an organization’s management department, particularly during acquisitions and mergers. We collaborate with specific departments to help improve operational efficiency and overall management effectiveness.

  • Due Diligence
    The due diligence process involves a thorough examination, audit, or investigation to establish the facts surrounding a matter or transaction. In the financial sector, due diligence includes an in-depth analysis of financial records and data before entering into any potential deals or partnerships.

 

How Can We Help?

To meet and exceed client expectations, we stay ahead of every change in the auditing landscape, ensuring we understand both the internal and external challenges you may face. Our expertise and rigorous internal controls allow us to stay current with developments in auditing and assurance. We also actively participate in conferences and seminars to keep informed of significant industry changes that impact your business. During audits, we consistently identify opportunities for improvement and offer actionable suggestions on any notable changes.

As one of the leading providers of audit and assurance services in Mumbai and Navi Mumbai, we engage with our prestigious clients regularly to ensure compliance with statutory and regulatory requirements, including necessary disclosures and value-added services. We guarantee top-quality services that help you uncover hidden opportunities and identify potential risks in your business. Our commitment to integrity and professional ethics ensures that we meet the highest standards while delivering exceptional services.

We believe audits should not disrupt business operations, which is why we prioritize prior planning and adequate staffing to prevent delays. By gaining a comprehensive understanding of your organization’s operations before starting an audit, we ensure our services are aligned with your specific needs. What sets us apart as an audit Company in Mumbai and Navi Mumbai is our customized approach, tailored to your business goals, operating policies, and regulatory requirements.

For services in Mumbai and Navi Mumbai, contact us at info@gyaniadvisory.com  and experience exceptional service and commitment from our expert team.

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