At Ayachit and Associates we are focused on delivering a high quality audit which is responsive to the needs of the business, delivered by a team with high technical standards with appropriate rigor and challenge. We are having audit teams according to sector specialist knowledge to bring value through the audit process. We ensure that our client have effective and accurate financial systems and controls in place to meet their business and compliance requirements, which is critical to their success. We strongly believe that the audit, although a statutory requirement, can add value to client organizations and assist management in their decision-making process. Our auditors perform auditing and financial analysis with a minimum of fuss and maximum efficiency and accuracy. We perform high quality audits through policies, procedures, technology and culture. We conduct following types of audits to support our clients:-
- Statutory audit:- Statutory Audit is the obligation imposed on the company by the ‘Statute’.. A statutory audit is a legally required review of the accuracy of a company’s (or government’s) financial statements and records. The exact meaning of the statutory audit is “Providing true check of financial position of a company by following respective laws and regulations in the country.”
- Internal audit:- Internal Audit & Internal Financial Control Testing is needed as per Companies Act. Internal auditor can add value to your business to arrest leakage & improve control & efficiency. We perform internal audits, which suits the requirement of clients and need of business. We perform the internal audit assessing risks and evaluates the internal controls and checks.
- Due diligence audit:- A due diligence audit is basically a careful investigation into the complete financial picture of a company. Due diligence is an investigation or examination of a business prior to signing a contract, or an act with a certain standard of care.
- Interim audit:- An interim audit involves preliminary audit work that is conducted prior to the fiscal year-end of a client. An interim audit can also refer to a full audit that is conducted for an interim period, such as for a quarter or half-year. An interim audit can also refer to a full audit that is conducted for an interim period, such as for a quarter or half-year.
- Concurrent Audit:- A concurrent audit is performed daily for all transactions concurrently, along with the happening of the transactions, it can also be termed as pre-audit of all transactions. It ensures the correctness of the transactions along with the genuineness of the transaction.
- Stock audit:- Stock audit is considered as an important auditing term which refers to the physical verification of the inventory. Stock Audit is an independent check on the functions of the management, which has some value in the eyes of law and the taxation authority.
- Tax audit:- A tax audit is conducted as per the standards and procedures prescribed under the Income Tax Act, 1961. Auditing of accounts is a best practice that will ensure that the laws are adhered to and that there is no tax fraud or evasion.
- Forensic Audit:- We perform forensic audit to examine and evaluates a firm’s or individual’s financial records to derive evidence used in a court of law or legal proceeding. Forensic audits cover a wide range of investigative activities. A forensic audit is often conducted to prosecute a party for fraud, embezzlement, or other financial crimes.
- Transaction Audit:- Transaction audit is performed during the insolvency proceedings to help the insolvency professional to help him detecting PUEF (Preferential, Undervalued, Fraudulent & Extortionate) transactions. of any company.