Bringing Value Through Expertise
SNR ServicesAttestationSNR SERVICES
The challenges of international competition and ever increasing complexity of information flows have increased the financial and business risks faced by companies. With increasing regulatory requirements, the need for greater transparency in operations and disclosure norms, stakeholders require assurance beyond the traditional numbers.
Globalization of the Indian Corporate world has been a key driver in harmonization of accounting practices in financial disclosure norms. Shareholding pattern in Indian Corporates’ is fast changing its form to strategic investors, private equity investors and Foreign Institutional Investor’s, demanding transparent financial statements.
Our attestation services includes:
Statutory Audit
The principal objectives of the Statutory Audit is to ensure that the financial statements i.e. the Balance Sheet, Profit & Loss Account and Cash Flow Statement give a true & fair view and are free from any material misstatements. In the case of companies, the statutory audit is governed by Companies Act, 2013.
Our approach to Statutory Audit of the financial statements is to provide reasonable assurance that the accounts have been prepared in accordance with the Generally Accepted Accounting Principles (GAAP) and are free of any misstatements, errors and discrepancies. In addition to the traditional statutory audit, we also help the clients by monitoring organizational ethics, conducting effective reviews of operational and financial performance, assessing the quality, economy and efficiency of their operations and suggesting continuous improvement strategies.
Our approach to Statutory Audit of the financial statements is to provide reasonable assurance that the accounts have been prepared in accordance with the Generally Accepted Accounting Principles (GAAP) and are free of any misstatements, errors and discrepancies. In addition to the traditional statutory audit, we also help the clients by monitoring organizational ethics, conducting effective reviews of operational and financial performance, assessing the quality, economy and efficiency of their operations and suggesting continuous improvement strategies.
Tax Audit
The requirement of a tax audit was introduced by the Finance Act 1984. A Tax Audit involves an expression of the tax auditors’ opinion on the truth and correctness of certain factual details, given by assessee to the Income Tax Authorities to enable the assessment of tax. Our endeavor is to mitigate the burden of tax department and to give our report that deductions and disallowances if any, under the various provisions of Income Tax Act, 1961 are properly and correctly calculated, so that the income assessable can be computed correctly.
Our approach involves the following:
Our approach involves the following:
- Certification that the Balance Sheet and Profit & Loss Account are in agreement with the books of account.
- Checking the correctness of the Claimable deductions as allowed in the Income Tax Act, 1961.
- Checking the various tax compliance norms as set out by the Income Tax Act, 1961.
- Issuing the Report of Tax Audit as required by the Income Tax Rules in the prescribed format.
Bank Audits
Special Audits under various Acts
Certification
