Audit & Assurance Services

Auditing & Assurance Services are at the core of any Financial Management setup. It ensures proper working of the organisation according to laid down internal controls and also the efficiency and effectiveness of the controls itself.

AJA provides assurance services to its clients in India and abroad. We offer a complete range of Assurance Solutions to help improve your financial efficiency, accuracy and stability. Our audit methodology is comparable to audit methodology adopted internationally and our audit procedures are tailored considering the size and nature of business of the client and to meet the regulatory requirements. Regular training provided to our team on audit methodology and regulatory requirements helps us to provide consistent and quality audit services.

Financial statements are ordinarily prepared and presented annually and are used by wide range of users. Many of those users rely on the financial statements as their major source of information because they do not have the power to obtain additional information to meet their specific information needs. Thus, financial statements need to be prepared in compliance with the regulatory requirements, Accounting Standards and any other industry specific requirements. The auditor's opinion enhances the credibility of financial statements by providing a high, but not absolute, level of assurance.

Our range of Auditing & Assurance Services include:

Statutory Audit

The statutory audit is carried in accordance with the provisions and framework established by law or statute, applicable Indian Accounting and Auditing Standards and in accordance with the guidelines issued by the Institute of Chartered of India. The objective of such service is to give opinion on whether the financial statements (stand-alone / consolidated) give a “True and Fair View” in conformity with the accounting principles generally accepted in India.

Our approach and methodology, varied industry experience spread over 28 years and in-depth technical knowledge enables us to adequately validate the information, assumptions and estimates represented in financial statements to consistently deliver quality audit.

Constant improvement programs initiated by us help our clients to prepare for forthcoming changes in accounting rules, regulation and standards.

Tax Audit

Tax Audit is carried in accordance with the specified provisions of the Income tax laws of India and providing disclosures of relevant information in specified formats to the Income tax Authorities to enable an assessment of tax. Our Endeavour is to mitigate the burden of tax and to review that the various provisions of the Income tax law are properly complied with, so that assessable income can be computed correctly.

Internal / Management Audits

The main objective of Internal / Management Audits is that it functions as a service to management by providing independent, management oriented advice on an organisation’s operations and performance and financial services. It aims at the promotion of efficiency, economy and effectiveness of the management processes, and also the reliability and accuracy of operations.

Internal/Management Audit is an important tool of evaluating corporate governance processes and evaluating the risk management of a business organisation. Internal audit is an effective means of evaluating the efficacy of operations, the reliability of financial reporting, compliance with the corporate and statutory regulations, safeguarding of assets and various matters concerning the interest of the company, employees, stakeholders and society in general.

On account of the changing business dynamics, recent corporate failures and increased stakeholders accountability, internal/Management audit has a vital role to provide the management with a clear, comprehensive and unbiased analysis of the functional efficiency of the organisation and also to suggest possible areas of improvements.

Internal / Management Audit is conducted in order to provide the client’s management with a clear, comprehensive and unbiased analysis of the functional efficiency of the organisation and to suggest possible areas for improvements. We strongly believe that Internal / Management Audits are value addition exercise rather than a mere compliance exercise. Our Internal / Management Audit services are designed to suit the individual client specific needs. It provides assistance to clients in managing their key business concerns, be it achieving strategic business goals, meeting operational challenges, complying with regulatory norms or managing reporting requirements.

Vat Audit

Vat Audit is carried in accordance with the specified provisions of the Value Added Tax (Sales Tax) laws of India and providing disclosures of relevant information in specified formats to the Sales tax Authorities to enable an assessment of sales tax. Our Endeavour is to review and certify that the various provisions of the Sales tax law are properly complied with.

Transfer Pricing Audit

Transfer pricing audit is carried out, in accordance with the provisions of the Income tax laws of India Income-tax Act, 1961 [i.e. Sections 92 to 92F under Chapter X-Special Provisions Relating to Avoidance of Tax], and an Accountant report is issued under Section 92E in respect of an international transaction between associated enterprises and of specified domestic transaction. It covers documentation as well as benchmarking the pricing of such transaction to the arm's length under the various methods.

Under the arm’s length price principle, the transaction pricing of a controlled transaction between associated enterprises and of specified domestic transaction should be same as that of an uncontrolled transaction between unrelated parties in the open-market.

Concurrent Audit

Banks, Financial Institutions, Insurance Companies, Mutual Fund Companies and Large organizations and corporations need to verify day to day business transactions. We have a pool of qualified & experienced professionals and ancillary staff, to conduct such audits.

Information System Audit

Information System (IS) Audit evaluates the adequacy of internal controls with regard to specific computer programs and the data processing environment as a whole. It ascertains whether computer systems safeguard assets, maintain data integrity and allow the goals of an organization to be achieved effectively and efficiently.

The growing dependence of most organisations on Information Systems and the related risks, benefits and opportunities, have made Information Systems Audit an increasingly critical tool for overall governance. Without assurance on Information Systems, enterprises cannot feel certain that the information on which they base their mission-critical decisions are reliable, confidential, secure and available when needed. An Information Systems Audit evaluates the Information Systems from different perspectives such as security, quality, efficiency, reliability, etc. and reports on the risks and its impact on the organisation and also suggest measures to eliminate or minimize the risks.

We provide professional services in the areas of Information Systems Audit which include evaluation of Information Systems & IT Controls considering Organisation standards and International Information Systems frameworks. Our team includes experienced computers professionals and qualified system Auditors (DISA) to conduct IS Audit.

Current Asset / Stock Audit

Organizations needs to verify there debtors/stocks or the lender needs to verify its borrowers repaying capacity. We undertake current assets audit to enable companies assure the value of there book debts/stock.

IFRS Convergence

IFRS refers to International Financial Reporting Standards which are applied while preparing the Balance Sheet and other Profitability Statements of a Company and are developed by the IASB. These have already been applied in more than a 100 Countries and would soon be used across the Globe.

Different Countries employ different Accounting Standards while computing the Profits of a Company. Profits computed as per different accounting laws of different countries always yield different figures. So as to remove this discrepancy in Accounting across the Globe, Countries world over decided to apply uniform standards of accounting so as to arrive at uniform profits across the Globe.

It is expected that IFRS adoption worldwide will be beneficial to investors and other users of financial statements, by reducing the Costs of Comparing alternative Investments and Increasing the Quality of Information. The Companies are also expected to benefit, as investors will be more willing to provide financing.

We are providing assistance to clients:

  • In analysis of impact on convergence to IFRS
  • In compilation / quantification of impact on convergence to IFRS
  • In deciding and designing solutions for implementation
  • In staff training
  • In preparation of IFRS financial statements

Due Diligence Review

Due Diligence refers to the process of research and analysis that is done before an acquisition, investment, business partnership or bank loan in order to determine the value of the subject of the due diligence or whether there are any major issues or potential issues. The prospective acquirer/investor should obtain all the necessary information within the predetermined time and make sure that he makes a good deal and not a costly mistake.

With globalization and the rapid growth in the Indian economy mergers, takeovers, and acquisitions have become common phenomena. It is imperative to have reliable, timely and qualitative information in any potential transaction to enable informed decision making.

Our Due Diligence team performs financial, legal and tax due diligence and business analysis for organisations that are contemplating investments, strategic partnerships, mergers and acquisitions or that are looking to enhance organisational effectiveness in an existing business unit or portfolio company.

We offer a confidential, sound, unbiased perspective and are the ideal complement to client’s internal resources to generate valuable due diligence reports and business analyses for our client that become an integral component of their decision-making and negotiation processes

We focus on providing value-added services that enhances client business decisions by combining a thorough understanding of technologies, logistics, corporate strategy and finance with an ability to summarize complex issues into concise and easily understood terms.

Our Due Diligence Review Report states the outcome of the above engagement supported by findings in each area along with adjustments proposed to achieve the objectives of the engagement.

Compliance Review

In today’s dynamic business environment, for any business organisation, one of the most important challenges is to ensure compliance of various laws and considering the fact that the law has become more complex in recent years as a result of many reforms, amendments and notifications, it is of utmost importance for every organisation to comply with various laws so as to ensure better corporate governance and meet with the requirements of vigilant government authorities.

We at have a dedicated team of Company Secretaries, Chartered Accountants, MBAs and legal professionals, who possess extensive experience in various compliances under various Indian Laws. Our team has extensive experience across industry and service verticals and has competency for handling various compliance review matters.

145088 Times Visited