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.
- 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
Our qualifications (common content)
- 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.