Audit & Assurance Services
1. Statutory Audits
A statutory audit prescribed under Companies Act, 2013 and other regulations is a legally required review of the accuracy of a company’s financial statements and records. It is an examination of accounts held by an organisation, business or government entity which involves the analysis of financial records or other areas.
2. Internal Audits and Management Assurance
Internal audit provides assistance to the business from inside and is a crucial component of the control mechanism. An organization’s internal controls, corporate policies, procedures, and methodologies are assessed through internal audit, a service that is independent of the organisation. It aids in ensuring adherence to the regulations that apply to a particular organisation.
3. Income Tax Audit
The main objective of the income tax audit is to verify the accuracy and completeness of the taxpayer’s financial records, including income, deductions, and credits, and to ensure compliance with the Income Tax Act, rules and regulations made thereunder.
Under the Income Tax Act, income tax audits are mandatory for certain taxpayers, including businesses and professionals whose annual turnover or gross receipts exceed a specified threshold.
4. Forensic Audits
It is crucial to review and assess the financial records of a company or an individual. To uncover unethical behaviour, like as fraud, scamming, or cheating, a forensic audit is employed. An auditor tries to gather information during a forensic audit that may be used as evidence in court.
5. Stock Audit
Stock audit is a process of verifying and validating the physical stock of goods or materials held by a company against the inventory records. The purpose of a stock audit is to ensure the accuracy and completeness of the inventory records, identify discrepancies and irregularities, and to take corrective actions as necessary.
A stock audit typically involves the following steps:
a) Planning and preparation
b) Physical verification of the inventory
c) Reconciliation of the physical inventory with the inventory records
d) Investigation and analysis of any discrepancies or irregularities
e) Reporting of findings and recommendations
f) Follow-up and monitoring of corrective actions taken.
The results of a stock audit can help a company to improve its inventory management and control systems, identify potential areas of risk and fraud, and ensure compliance with accounting and regulatory requirements.
6. Due Diligence
Due diligence is a service that helps the investigation carried out to audit, where review is performed to confirm facts or details of a matter under consideration. Due diligence requires an examination of financial records before entering into a proposed transaction with a second party. ADGS provides the services you need to make an intelligent decision for your business.
At ADGS, We provide following due diligence services:
a) Financial Due Diligence
b) Legal Due Diligence
c) Operational Due Diligence
d) Management Due Diligence
e) Tax Due Diligence
f) HR Due Diligence
g) Intellectual Property Due Diligence
Also, we conduct Due iligence activities of Corporate Entities based on the specific requirements of the clients.
7. Financial Accounting Advisory Services
It improves transparency and fosters trust with important stakeholders while providing firms with insights and supporting compliance in a difficult financial reporting environment.