Accountant – either external or internal, are mainly are the referees of our financial system. They play an essential role in ensuring that an organization adheres to global accounting standards and prevents fraudulent activities. While the accounting process helps present the company’s financial position, audits help ensure the financial reports are accurate and compliant for the company’s clients, customers, shareholders, and other stakeholders.
We handhold organisations for following tasks and activities
- 1. Export / Import audit
- Accounting Data entry
- Finalisation / Ledger Scrutiny
- Company Audit-ROC format Balancesheet/ schedules
- GST Audit – GST annual return -3 B / R-1 / 2A verification.
- Tax Audit
- Income tax return audit
- Stock Take audit
- TDS payment / GST return – Monthly/quarterly compliance
- Shop Act/ Udyog Adhar registration
- Preperation of Partnership Deed/ other deeds/ Registration
Why it is important
An accounting audit is an examination of the organization’s financial information which is conducted by an independent auditor with the aim to ensure that the information is represented fairly and accurately and in accordance with accounting standards, Accounting audits play an important role in achieving transparency in business operations and increasing investors’ confidence in the business’ growth.
Few Manjor steps to achieve the goal in any financial audit
- To achieve transparency in business operations and drive accountability
- To develop a practice of having an audit trail for each transaction
- To have an independent and fair opinion on how the business works and delivers results
- To ascertain the quality of financial statements, and identify Tangible and In-tangible benefits
- To deliver 360 feedback on the business process operations
- To attract new and potential investors or stakeholders for the business
- To ensure compliance with tax laws, regulations, and all applicable accounting standards like International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP)
- To provide assurance to stakeholders that the financial statements are reliable
- To identify areas for improvement in the company’s financial reporting and internal controls
- To detect and prevent fraud and other financial irregularities