SNR provides services that are meant to fulfil the extensive and wide-ranging need for accountancy specialists, with up to date and sound fundamental knowledge of the subject. Apart from a superior technical understanding of all facets of accountancy, the vast experience of SNR in handling secretarial, taxation and consultancy engagements for various industry groups is an added advantage.
- Preparation of Account Books
- Routine statutory Compliances
- Preparation of Financials as per Indian GAAP & IFRS
- Conversion of Indian GAAP Financials into IFRS Financials
The use of international financial reporting standards (IFRS) as a universal financial reporting language is gaining importance across the globe. IFRS presents challenges at all stages of the IFRS conversion lifecycle. SNR has experience of helping clients in the conversion of financials from Indian GAAP to IFRS.
SNR is equipped with the range of professionals to help the company’s conversion to IFRS involving the following areas
- Conversion to IFRS
- Assess the tax implications of moving to IFRS
- Deferred Tax Accounting
- Employee Benefits
- Fair Value Accounting
- Financial Instruments
- Optimize all decisions related to IFRS conversion
- Preparation of IFRS financial statements
System Process and Control Review:
Management Audits of Special Concerns
Our auditing expertise is extended to conducting management audits of special and diversified entities such as charitable institutions, religious trusts, various non-profit organizations, NGOs etc.
We evaluate the performance of the various management processes and functions. We examine and review the standards set not only in terms of the achievability of the monetary targets but also in terms of the actual deliverables of the entity in terms of charity done, social work etc. and thus the management audit conducted by us goes beyond the conventional audit, which merely involves a scrutiny of financial transactions and books of accounts. It is a comprehensive and critical review of all aspects of management performance, to which the audit of the projects must confirm. It is a systematic independent appraisal activity within an organization for the review of the entire operations undertaken. It evaluates the actual performances and compares them with the predetermined targets.
Our fundamental objective is to assist all the levels of management in the effective discharge of their responsibilities by furnishing them with objective analysis’, appraisals, recommendations and pertinent comments concerning the activities reviewed.
Our services include the certification of the following:
- Actual disbursements are made in accordance with the approved activities, work plan and approved Budgets, which shall be supported by adequate documentation
- Review of appropriate management structure and internal controls
- Monitoring and evaluation of activities and progress as per the expected results according to the key considerations of the management
- Satisfactory measures are taken by the designated authority to comply with the recommendations of the prior audit (Follow-ups on recommendations)
Compliance audit provides a comprehensive insight into the functioning and effectiveness of management processes. It provides independent assurance to the audit committee board regarding management compliance status. It measures the maturity of the compliance processes by focusing on key statutory and internal assessment areas.
We continuously endeavour:
- To add value to Corporate Governance
- To identify the high-risk areas and suggest suitable measures for risk management
- To evaluate the adequacy and effectiveness of the internal compliance monitoring mechanism with in a company
- To provide an assurance to the audit committee board about the policies of the company vis-à-vis the various compliance rules
Special Investigation Audits
The Special Investigation Audits are carried on behalf of Banks, Financial Institutions, Top Management, Judicial Bodies, Special group of Investors etc. The audits are conducted as per the specific scope agreed. The main objective of such an audit is to provide a critical review of a company’s working and its state of affairs.
Our approach at SNR & Company is to make sure:
- The financial accounts are prepared as per Generally Accepted Accounting Policies, Practices and Standards
- The detailed analysis of the accounting statements are based on identified contingencies and provisions
- We help in identifying the leakages of revenue to the organization, persons responsible for such leakages and various steps available for the recovery
- We suggest corrective actions to be taken to prevent such incidents in future