AUDIT & ASSURANCE
Delivering high-quality assurance services is at the heart of what we do.
We provide comprehensive audit & assurance services designed to deliver real value and underpin investor confidence. Leveraging our solutions-oriented approach, our commitment is to invest time in assessing our client’s business and finding practical solutions to assist them. We assist them to realise their organisational objectives, and methodology to facilitate senior personnel involvement at regular intervals throughout the process, thus ensuring value beyond the ambit of the audit report.
Audit & Assurance
The financial statement audit has never been more
important. In today's business environment there is more
scrutiny and skepticism of a company's financial
statements than ever before. Investors have lost faith
in corporate governance and reporting and they expect
greater reliability, more oversight and clear evidence
of internal controls. Meeting investor expectations
begins with the completeness and accuracy of information
contained in a company’s financial statements.
At Jayesh Sanghrajka & Co LLP., we have robust audit
tools, resources and procedures to provide the means for
our professionals to deliver high-quality audit
services. In delivering these services we adhere to the
auditing standards such as the Indian Standards on
Auditing and ethical guidelines and those issued by
Indian regulators and ICAI to maintain a level of
quality and trust of all stakeholders in the auditing
exercise.
For organisations that require an audit for statutory or
regulatory reasons associated with the filing of their
annual and periodic financial information, JSC can
provide high quality audit services.
A strong, strategic Internal Audit framework integrates
compliance, controls and sophisticated risk management
with your mission, vision, and stakeholder expectations.
Keeping in mind the Risk Management framework, our
internal audits adopt ‘Risk Based Audit’ (RBA) approach
and other tools and techniques for accomplishing the
audit objectives. As such, it can help you shape a new
governance and risk paradigm - anticipating issues,
increasing your effectiveness, eliminating duplication
and identifying areas of potential performance
improvement.
Internal audit is also an effective means of
evaluating:
- Efficacy of operations
- Reliability of financial reporting
- Compliance with various regulations
- Safeguarding of assets and various matters concerning the interest of the company, employees, stakeholders and society in general
A Tax Audit involves an expression of the tax auditors’
opinion on the truth and correctness of certain factual
details, given by assessee to the Income Tax Authorities
to enable an assessment of tax.
Our endeavour is to mitigate the burden of tax and to
review that disallowances and deductions if any, under
the various provisions of Income Tax Act, 1961 are
properly and correctly calculated, so that the income
assessable can be computed correctly.
Tax Audit:
- Checking the correctness of the Claimable deductions as allowed in the Income Tax Act, 1961
- Effective reviews to see that the accounts are prepared in accordance with the tax efficient policies
- Checking the various tax compliance norms as set out by the Income Tax Act, 1961
- Certification of the books of account being in agreement with the Balance Sheet and Profit and Loss Account as per the requirements of the Income Tax Act, 1961.
- Issuing the Report of Tax Audit as required by the Income Tax Rules in the prescribed format.
Goods and Service Tax (GST) is structured for efficient
tax collection, reduction in corruption, easy
inter-state movement of goods and a lot more. Audit
under GST is the examination of records maintained by
a registered dealer. The aim is to verify the
correctness of information declared, taxes paid and to
assess the compliance with GST.
Every registered person having a turnover of more than
Rs. 2 Crores is liable for GST audit conducted by
Chartered Accountant or Cost Accountant. It involves
- Vouching and verification of invoices and supporting documents
- Reconciliation of income as per Profit/Loss account and income reflected in GST returns
- Filing annual return along with audit report.