Professional Audit Services in Kochi to ensure compliance and accuracy.
We recognize that Stakeholder safety & confidence are key to the growth of any organization and provide all kinds of statutory, compliance, and taxation audit services. At GSD, we offer comprehensive professional audit services in Kochi to empower businesses of all sizes in achieving these goals. Our Audit Services provide independent and objective assessments of financial statements, internal controls, and compliance with regulations and standards. We understand the importance of audit integrity and reliability in providing stakeholders with confidence in your organization's financial reporting and operations. Our team of experienced auditors is committed to delivering high-quality audit services that meet regulatory requirements and provide valuable insights to support informed decision-making. Our services include:
Statutory Audits (Companies, LLP, Societies)
Tax Audits under the Income Tax Act
GST Audits
Agreed upon procedures.
Internal, Operational, and Compliance Audits
Internal Control Assessments based on COSO
Special Purpose Investigations
Revenue Audit
Information Systems Audit
Retail Store / Warehouse Audits
Stock Audit
Receivables Audit
Benefits:
Financial Transparency: Our audits provide stakeholders with transparent and accurate financial information, enhancing trust and credibility.
Compliance Assurance: We ensure compliance with relevant regulations and accounting standards, reducing the risk of penalties and regulatory actions.
Risk Identification: Our audits help identify and assess financial and operational risks, enabling proactive risk management.
Operational Efficiency: We offer recommendations for improving internal controls and processes, enhancing operational efficiency and effectiveness.
Stakeholder Confidence: By providing independent and reliable audit opinions, we enhance stakeholder confidence in your organization's financial reporting and governance.
Steps/Process Involved:
Planning and Preparation:
We plan the audit engagement, including defining objectives, assessing risks, and developing an audit plan.
Fieldwork and Testing:
Our auditors conduct fieldwork, including testing internal controls and substantive procedures, to gather evidence and support audit conclusions.
Analysis and Reporting:
We analyze audit findings, evaluate the adequacy of internal controls, and prepare audit reports detailing our observations, conclusions, and recommendations.
Communication and Follow-Up:
We communicate audit results to management and the audit committee, address any questions or concerns, and follow up on the implementation of recommendations.
Pre-requisites:
Access to relevant financial records, reports, and documentation.
Cooperation and collaboration from management and staff during the audit process.
Commitment to addressing any findings or recommendations identified during the audit.
Deliverables:
Audit reports providing an independent opinion on financial statements and internal controls.
Recommendations for improving internal controls and processes.
Communication of audit results to stakeholders, including management and the audit committee.
FAQ's:
How long does an audit typically take?
The duration of an audit depends on factors such as the size and complexity of the organization, the scope of the audit, and the availability of information. Typically, audits are completed within a few weeks to a few months.
What is the difference between an external audit and an internal audit?
An external audit is conducted by independent auditors to provide assurance on the accuracy and reliability of financial statements, while an internal audit is conducted by internal auditors to evaluate and improve internal controls and processes within an organization.
What if we disagree with audit findings or recommendations?
We encourage open communication and collaboration throughout the audit process. If there are disagreements or concerns, we work with management to address them and ensure that all perspectives are considered.
Can you assist with implementing audit recommendations?
Yes, we provide implementation support and guidance to help organizations address audit recommendations and improve internal controls and processes.
Related Services:
Internal Audit Services
Regulatory Compliance Audits
IT Audit and Cybersecurity Assessments
Fraud Examination and Investigation
Process Improvement Consulting
