Audit is a proven way to establish the credibility of a company and build its reputation. It is an assessment of the financial report of an organization by an independent source. Businesses that successfully address the auditing needs of their company improve their financial reporting and stand to gain better capital resources.
We provide a dependable audit service by bringing together the right team to address the most complex accounting issues. We deploy a proven methodology and use qualitative perspectives. We give you the benefit of our deep financial knowledge and the latest insights from our work. Our audit process also includes identification of business improvements and efficiencies, so an audit provided by APRA can bring numerous benefits to you.
Section 224 of the Companies Act, 1956 imposes an obligation on all the companies registered under the Companies Act, 1956 to have its financial statements audited by an eligible firm of Chartered Accountants. Our team has the expertise to guide you through the challenges and assist to ensure:
We also undertake internal audit assignments to ascertain whether the company is in compliance with the provisions under the Income Tax Act, Companies Act and any other statutes applicable to it. The scope of our Internal Audit usually includes, but not limited to, the following areas
Section 44AB of the Income Tax Act imposes an obligation on the corporate/ firms/ individuals, having prescribed annual turnover to appoint an auditor for conducting a tax audit. Our audit department does the tax audit of corporate/ firms/ individuals and issues a report, required to be attached along with the tax return.
Under the RBI panel of statutory auditors for bank audits, APRA falls under category A of Chartered Accountant firms. For the past three years we've been associated with leading nationalized banks as statutory branch auditors. Apart than this we also carry out concurrent audit for nationalized banks.
Special audits are needed when it is suspected that laws or regulations have been violated in the financial management of an organization. In conjunction with investigating violations, audits can be carried out pertaining to duties, authorizations, responsibilities and internal control guidelines, for example.
Special audits are often related to corporate reorganization. In such cases, the audits are carried out in line with the recommendations of the Advisory Board for Bankruptcy Affairs.
We at Jain Sunny & Associates have broad and extensive experience of circumstances that require audits and organizations of all types and sizes. The scope and focus of a special audit is agreed with the customer on a case-by- case basis.