Audit and Assurance – Overview
At BKC, our audit and assurance team is dedicated to providing top-notch services tailored to your needs. Our goal is to offer insightful recommendations to enhance your operations, provide financial guidance when needed, and establish a long-lasting relationship. We strive to be your first point of contact for any questions and invest the time necessary to build a strong relationship.
What is an Audit?
An audit typically refers to a review of financial statements. A financial audit is an impartial examination and evaluation of an organization’s financial statements to ensure that they accurately reflect the business transactions they represent. This audit can be conducted internally by the organization’s employees or externally by a chartered accountants firm.
What is Assurance Service?
Assurance services are independent professional services usually provided by chartered accountants. These services can involve examining any financial document or transaction, such as a loan or contract, to verify its accuracy and validity. Assurance services help clients manage risks and uncertainties while enhancing the transparency and value of the information shared with the market and investors.
Audit and Assurance Services at BKC
As one of the leading auditing firms, we are recognized for offering the best audit services in Delhi. Our comprehensive range of services includes:
- Statutory Audit: A legally mandated review to verify the accuracy of a company’s financial statements and records. This audit assesses whether the organization provides a fair representation of its financial position by examining accounting records, bank balances, and commercial transactions.
- Internal Audit: An objective assurance and consulting activity aimed at adding value and improving an organization’s business operations. It assesses and enhances risk management, control, and governance processes to help organizations achieve their strategic objectives.
- Tax Audit: This involves auditing financial records in compliance with the Income Tax Act of India, providing disclosures in prescribed formats. Our team, well-versed in various tax laws including Income Tax, GST, and Service Tax, is rated among the best in tax audit services in Delhi.
- Fixed Assets Audit: Ensures that capital assets and depreciation are accounted for properly, helping to prepare accurate balance sheets and ensuring regulatory compliance. This audit provides better internal control over fixed assets.
- Stock Audit: Involves the physical verification of inventory to ensure that the physical stock matches the recorded stock. Regular stock audits help identify discrepancies and maintain accurate inventory records.
- Management Audit: Focuses on auditing the functions of operations management, particularly for acquisitions and mergers. Our firm collaborates closely with departments to improve overall efficiency.
- Revenue Audit: A two-step process that scrutinizes tax returns data against actual business records to ensure accuracy.
- Due Diligence: Involves a thorough examination or review of financial information and records before entering into a proposed deal. This process is crucial for establishing facts and making informed decisions.
How Can We Help?
Meeting and exceeding client expectations requires us to stay updated with the latest changes in auditing standards and practices. At BKC, we pride ourselves on our technical expertise and adhere to high internal control standards. We stay informed through conferences and seminars to understand significant changes in various industries.
We engage with our clients on an ongoing basis to ensure compliance with statutory and regulatory requirements, including necessary disclosures and value-added services. Our commitment to quality ensures that you can identify hidden potential and potential trouble areas in your business. We approach audits with the highest levels of integrity and professional ethics while maintaining business standards.
Our audit process is designed to be non-intrusive and efficient, with careful planning and adequate staffing to avoid delays. We gain a deep understanding of your operations before starting an audit, tailoring our services to your company’s specific needs and objectives.
For top-quality audit and assurance services in India, or if you are looking for the best audit firms or bank audit consultants, reach out to us at info@cabhupenderkumar.com. Experience exceptional service and commitment from our team of experts.