Introduction to Audit & Assurance
Audit & Assurance refers to the meticulous verification of financial books, records, and other relevant information, followed by an assessment of the findings and the expression of our professional opinion. Our dedicated team comprises highly skilled and experienced Chartered Accountants who specialize in conducting audits.
Our services extend beyond traditional audits, as we actively collaborate with businesses to deliver comprehensive solutions such as internal quality audits, compliance statutory audits, and concurrent audits. By engaging with firms on a regular basis, we ensure that their operations align with regulatory requirements and industry best practices.
The Audit Assurance we provide to our clients is constantly changing to meet the demands of businesses and stakeholders.
The performance of today’s companies are influenced by several significant elements, including digital transformation, rapidly evolving technologies, complexity, and regulatory change.
We use our robust technology to deliver trust in changing business needs and stakeholder expectations while keeping quality at the core of our operation.
We collaborate with you to create transparency for financial and non-financial reporting by taking a comprehensive approach to your company. Together, we will control risk, bolster business processes, and give management the direction to make wise choices.
Our Audit team has a passion for problem solvers and is dedicated to assisting, and we will use our global network of resources.
Benefits of Audit & Assurance
Attracts Investors
Investors always look for suitable companies to invest in. The excellent company shall have a formal audited report to give its business valuation. The Good, Audited and reported company always stands high for new investors.
Easy Sale and Purchase
The Audited company helps the third parties to review your business easily. It gives sense of the capacity of your company and its easy to by third parties to value your business.
Here’s how we at Prakasha & Co. do Audit & Assurance .
Review the company internal policy- Review the management approval system
- Review the books of accounts
- Review the financials and validation with Trial Balance
- Discussion with management about the clarifications
- Issue the Audit report
Review the company internal policyIf you need more information on audit assurance or audit exemptions please reach out. We can help.
Audit and assurance services can play a critical role in helping businesses succeed. Some of the specific ways in which audit and assurance services can contribute to business success include:
Improved financial reporting:
Audit and assurance services help to ensure that a business’s financial reports are accurate and reliable, which is important for decision-making, planning, and compliance.
Enhanced credibility:
By undergoing an audit, a business can demonstrate to stakeholders, such as investors and lenders, that its financial statements are reliable and trustworthy. This can enhance the business’s credibility and reputation.
Improved financial controls:
An audit can identify weaknesses in a business’s financial controls and suggest improvements, which can help to prevent errors and fraud and improve efficiency.
Enhanced risk management:
Audit and assurance services can help a business to identify and mitigate potential risks, such as by identifying and correcting internal control weaknesses.
Improved compliance:
An audit can help a business to ensure that it is compliant with relevant laws and regulations, which can prevent costly fines and penalties.
Overall, audit and assurance services can play a crucial role in helping businesses succeed by improving financial reporting, enhancing credibility, improving financial controls, enhancing risk management, and improving compliance.
Not looking for Private Limited Company registration? Click below to find other forms of entity registration
- Setting up of Proprietary Concern in Bangalore
- One Person Company or OPC Registration in Bangalore
- Partnership Firms Registration in Bangalore
- Limited Liability Partnerships Registration or LLP Registration in Bangalore
- Subsidiary Company Registration in Bangalore
- Setup Branch / Liaison Office in India
Other registration required after Private Limited Company registration depending on business :
- GST Registration
- Registration under Karnataka Shops and Establishment Act
- Profession Tax Registration
- MSME | Udyog Aadhaar Registration
- Employee Provident Fund Registration (PF Registration)
- Employee State Insurance Registration (ESI Registration)
- STPI Registration or Non-STPI Registration
- Import Export Code (IEC)
- Trade License from BBMP
