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Purvesh & associates
Chartered Accountants
Audit & Assurance Services
Our Assurance, Audit and Attestation services are aimed at assisting stakeholders who could either be money lenders or investors. Moreover, these facilities aid the organizations seeking to expand to international financial markets. We offer a panoptic range of services inclusive of compilations, audits and reviews. Such services facilitate an organization with a deep understanding of the core of business growth. Additionally, our audit approach incorporates ideal practices that are customised in accordance with the capacity of an organisation. Complicated issues will easily be resolved with our thorough understanding of legislations and regulations.
Internal Audit
Internal Audit is an independent appraisal function established within an organization to examine and evaluate its activities as a service to the organization. It is an independent, objectives assurance and consulting activity designed to add value and improve an organization’s operations. It helps organization to accomplish objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and government process.
Statutory & Tax Audit
Statutory & Tax Audit are required to be conducted by Chartered Accountant in order to comply with various as required by various laws. The auditor has to check whether the financial statements & various transactions entered by the organization are in accordance with provisions of the law for a given period of time. The role of the auditor is to give an opinion on the financial statements presented before them. It is a crucial tool for stakeholders to gauge the substantiality of the firm with regard to their proceedings.
Concurrent Audit
Most organization’s such as banks, asset management firms, finance institutes and insurance organization’s utilize the internal audit approach. Concurrent Audit is much the same as Internal Audit and is carried out at regular intervals. This is done to supervise the effectiveness in standard operations with statutory proclamations from time to time. Concurrent Audit usually acts as an appendage to the internal audit team, and assists it on a regular basis with factual findings.
Department Audit
In this type of audit, a periodic analysis of the administrative functions is undertaken. It is done to ensure effectiveness of control, protection of property, and productive use of resources in agreement with the laws and policies.
Integrated audits
Integrated Audit involves an amalgamation of Application Controls Review, Department Review and Operational Unit. This kind of examination provides an in-depth understanding of a functional operation within an institution.
Operational Audit
Operational Audit is conducted to examine the effectiveness of any organization. At the end of such an audit, recommendations are suggested for enhancing business productivity. It can be conducted in various spheres. This can range from inspecting the proficiency of payroll transactions to the more complicated procedure of courier service. We can help you increase your functional proficiency with our operational audits designed to suit your specific needs.
Inventory / stock audit
Financial institutions are expanding their credit to entities based on their stocks or book debts. This could either be done on the basis of overdraft, cash credit limit, etc. It then becomes crucial to have checks at regular intervals to establish the status of current assets, accurate attestation for statutory compliances and debt turnover scrutiny.
Performance Audit
This kind of audit helps companies gain a non-discriminatory evaluation of the company’s program performance. We employ personalized and constructive review methods in order to gain an understanding of how to achieve outstanding performance results. Other advantages include a clear insight into the areas that require improvement and enhancing overall performance of the organization.
revenue audit
This helps in discerning revenue leakages. It could either be due to deficiency of internal control policies, frauds or errors by the personnel. It is generally conducted once or twice a year. Purvesh & Associates possesses expert skill in this section, in the banking segment of the firm.
PAyroll audit
Salaries are always the content for analytical examinations. Different frameworks are taken into consideration while regulating a Payroll Audit; such as authentication details of employees, updated information about the personnel, time worked and salary scale of employees, etc. Additionally, an introspection of the amount to be reimbursed is also a major criterion that falls under payroll audit.
Management audit
Major decisions regarding crucial business undertakings are taken by the highest authorities in the company. However, after a period of time, it is necessary to conduct an evaluation of their proficiency by an independent agency. This maintains optimum independence in analysing the concerned individuals’ skills and capabilities in managing his area of operations. For this kind of audit, it is mandate that a person has great inert-personal skills and maturity level.
investigative audit
This audit is conducted when suspicious actions are observed on the behalf of a company, a person or at times of a loss in business. Investigative Audit surpasses standard procedures. This endeavour necessitates analytical methods, interrogating ability and monetary data reconstruction.
