Audit & Assurance
Audit and assurance services play a crucial role in maintaining transparency, accuracy, and reliability in financial reporting. At Abhay C. Asknani & Co., audits are conducted in accordance with the Standards on Auditing (SAs) issued by ICAI, with an emphasis on documentation, compliance, and systematic review of books and records.
Our audit methodology focuses on understanding the business environment, evaluating internal processes, and ensuring that financial statements reflect a true and fair view as required by applicable laws.
What We Offer
Statutory Audit
- Conducting statutory audits as per the Companies Act and other applicable laws.
- Examination of financial statements, ledgers, vouchers, and records.
- Evaluation of compliance with accounting standards and statutory requirements.
Internal Audit
- Review of internal controls, processes, and workflows.
- Identifying areas requiring improvement through compliance-based observations.
- Ensuring proper checks, documentation, and adherence to regulatory requirements.
Stock & Inventory Audit
- Physical verification of inventory and stock records.
- Review of valuation methods and documentation.
- Verification of purchase, sales, and consumption details.
Tax Audit (As Per Section 44AB)
- Performing tax audits in accordance with the Income Tax Act.
- Verification of financial data, tax computations, and statutory details.
- Preparation and submission of tax audit reports with required annexures.
Compliance Audit & Process Review
- Verification of statutory compliance under applicable laws.
- Review of business processes, documentation, and internal records.
- Preparing structured reports indicating observations and recommendations.
Financial Statement Review
- Review of financial statements for accuracy and completeness.
- Checking accounting entries, reconciliations, and supporting records.
- Ensuring compliance with applicable financial reporting frameworks.
Our Approach
-
Standards-Based – All audits conducted in accordance with ICAI Standards on Auditing.
-
Documentation-Driven – Detailed working papers, checklists, and evidence are maintained throughout the audit.
-
Risk-Aware – Understanding the business environment and focusing on key risk areas.
-
Transparent Communication – Sharing audit findings and observations clearly and objectively.
-
Compliance-Focused – Ensuring adherence to statutory laws and regulatory frameworks.
Get in touch
Contact Us Today
501, Shilp Satved, Besides Sindhubhavan, Sindhubhavan Road, Bodakdev, Ahmedabad - 380059