Auditing is an evaluation of a number of aspects involved in organizations. Different system, process, project and products in organizations are required to be inspected for their authenticity by expert people called auditors. In simple terms, auditing is all about inspecting the internal operations of organization, business, and companies. Auditors, who do auditing, examine different procedures of organizations to monitor their genuineness and reasonability. The process of auditing carried out as per approved and accepted standards, statutes, regulations, or practices.
In a routine run there may be a number of hampers that influence the functions of organizations. Auditing analyzes financial activities causing irregularities in business. Companies looking for auditing into their organizations concern CA firms that remain expert in resolving different company matters with help of professional chartered accountants. CA firms offer different auditing services such as:
Financial Auditing Services – There are several financial statements involving balance sheet of companies by parties or a legal entity. Such auditing is done to establish an independent & fair opinion on whether the financial statements, accounts, and bills are accurate, and are complete and presented fairly.
Internal Audit / Concurrent Audit service – For in depth checking of day-to-day transactions, large business organizations require internal audit / concurrent audit. An internal auditing service provided by CA firms involves assessing and evaluating the internal control of a company. Internal auditing ensures improvement and value addition to different company-operations. This auditing is always done to boost up the strength of internal systems for minimizing the chances of accidental or deliberate accounting errors and omissions.
Tax Audits – Tax audits refer to an investigation into the background of tax returns that are submitted by businesses to a tax agency. Tax audits are recommended to discourage tax avoidance and evasion. A tax audit is based on an expression of the tax auditors’ opinion on the truth and correctness of certain factual details.
Management Audit Service – A management audit involves reviewing, checking and making sure that all management procedures in an organization are being conducted in right way to assure quality, integrity or standards of provision that will bring positive outcomes. Management audit also includes maximizing the management performance by improving different internal processes of organizations.
Operational Efficiency Audit Service – In an organization, there are a number of operations which can be carried out only if huge resources have been invested. Operational efficiency audit service ensures that all operational resources are used for generating as maximum as possible outputs/ return/ value for organizations. Operational efficiency audit also includes countering a variety of internal processes to measure the performance of management and quantity of waste.
Special Investigative Audit Service – Special investigative audit service helps organizations in marking the areas where situation of fraud and financial impropriety may occur. CA firms providing special investigation audit services assist organizations in best possible manners to find out cause for any frauds and preventing them.
Due Diligence Review CA Firms are hired for due diligence review so that corporate and businessmen can be helped in their merger, acquisitions, joint ventures and investments.
You many find a number of CA firms in Delhi providing a range of auditing services.