Audit & Audit Support Services

Audit & Audit Support Services

Financial statements are crucial for an organization’s financial health, and a statutory audit ensures their accuracy and compliance with accounting standards. At KSMA, our experienced auditors provide comprehensive audit services, collaborating with businesses to understand their specific requirements and aid in presenting a “true and fair view” of your company’s financial health.

Our auditing services include:

  • Financial Statements Audits under Companies Act & Limited Liability Partnership Act-
  • Audit of Financial statements prepared under Indian Generally Accepted Accounting Principles (‘IGAAP’), Indian Accounting Standards (‘Ind AS’) or International Financial Reporting Standards (‘IFRS’)
  • Tax Audit under Section 44AB of the Income Tax Act, 1961
  • Transfer pricing Audit under Section 92E of the Income Tax Act,1961
  • Group Reporting
  • Limited Review
  • Bank Audit
  • Audit under Bombay Public Trust Act, 1950

AUDIT SUPPORT SERVICES

Facing an audit can be stressful. Our team of experienced professionals provides comprehensive audit support services to help you navigate the process with confidence. We offer a range of services to streamline your audit, including:

Reconciliation Services:

1. Reconciliation Services

We ensure your bank and loan statements match your internal records, identifying any discrepancies. Further, we also assist in obtaining and reconciling bank and loan confirmations obtained directly from banks and third-party vendors.

2. Customer/Vendor Reconciliation, Ageing and confirmations

We analyse outstanding receivables and payables to ensure accuracy and timely collections/payments. Further, we also assist in obtaining and reconciling third party debtor and creditor confirmations obtained directly from banks

3. GSTR 2A Reconciliation

We reconcile your sales data with information filed by your vendors (GSTR 2A) for GST compliance.

Physical verification services:

Fixed asset and Stock count and verification services

Weconduct physical inspections of inventory and fixed assets to verify its existence, condition, and quantity. Through meticulous counting and examination, we ensure accuracy in financial reporting, compliance with regulations, and detection of any discrepancies or irregularities.

Audit Related Services

1. Data gathering and preparation of audit documentation

We collect and arrange essential financial data to facilitate a seamless audit procedure. We transform and format the data to be easily accessible for auditors

2. Year-end Accounting Entries & Closing Books

We assist with accurate year-end journal entries and ensure proper closing of your accounting books.

3. Financial Statement Preparation (Standalone & Consolidated)

We help prepare clear and concise financial statements, both for individual entities and large corporates.

4. Assisting with Auditor Queries

We provide support in addressing any concerns raised during the audit.

5. 3CD annexures

We can also assist with preparing information required for 3CD annexures and other tax assessments.

Audit & Audit Support Services

Financial statements are crucial for an organization’s financial health, and a statutory audit ensures their accuracy and compliance with accounting standards. At KSMA, our experienced auditors provide comprehensive audit services, collaborating with businesses to understand their specific requirements and aid in presenting a “true and fair view” of your company’s financial health.

Our auditing services include:

  • Financial Statements Audits under Companies Act & Limited Liability Partnership Act-
  • Audit of Financial statements prepared under Indian Generally Accepted Accounting Principles (‘IGAAP’), Indian Accounting Standards (‘Ind AS’) or International Financial Reporting Standards (‘IFRS’)
  • Tax Audit under Section 44AB of the Income Tax Act, 1961
  • Transfer pricing Audit under Section 92E of the Income Tax Act,1961
  • Group Reporting
  • Limited Review
  • Bank Audit
  • Audit under Bombay Public Trust Act, 1950

AUDIT SUPPORT SERVICES

Facing an audit can be stressful. Our team of experienced professionals provides comprehensive audit support services to help you navigate the process with confidence. We offer a range of services to streamline your audit, including:

Reconciliation Services:

Physical verification services:

Audit Related Services

Accounting Advisory

Our Accounting Advisory Services go beyond compliance. We help businesses streamline financial reporting for faster, more accurate results. Gain valuable insights on critical accounting issues and ensure your financial practices align with your overall business goals.

We offer a comprehensive range of accounting advisory services, including:

Attestation and certification services

Attestation and certification services involve verifying and validating various financial or non-financial information to provide assurance and credibility to stakeholders like banks, regulators etc. This could include confirming the accuracy of financial statements, validating compliance with regulations, or certifying the authenticity of documents.

We offer these services to ensure transparency, reliability, and trustworthiness in the information provided to clients, investors, regulators, and other interested parties. Sample certifications include fixed asset certification, net worth certification, shareholding certification etc.