Audit Service | Auditor Service | Tax Audit Service | Taxation

Audit or Auditor Services in Delhi

Ezibiz India provides all types of auditing/assurance services which includes attestation, Financial reporting and due diligence services.

Our specific services includes:

  1. Review of financial statements and its audit
  2. Internal control analysis and reporting
  3. Tax Audit, Internal Audit & Statutory audit
  4. Transfer Pricing Audit
  5. Cooperative society audit, NGO audit
  6. Agreed upon procedures
  7. Due Diligence
  8. Corporate governance advisory
  9. Certification services
  10. Advisory on conversion to IFRS
  11. Advisory and implementation of Ind AS, US GAAP

Diffrents Types of Audits

This audit is conducted as per guidelines of Income-tax Act, 1961 and on basis of increase in turnover from a certain threshold. Here, the auditor needs to disclose relevant information in a prescribed format. It becomes applicable when total turnover increases Rs 1 crore or Total receipts from profession exceeds Rs 25 lakh.

Ezibiz India assists in conducting tax audit, an issue of the audit report and its filing with the tax department.

This audit is conducted as per guidelines of Indian Companies Act, 2013 and on basis of applicable Indian Accounting and Auditing Standards and in accordance with the guidelines issued by the Institute of Chartered of India. Here, an auditor provides a report to the shareholder of the company. On basis of auditor’s report, many informed decisions are taken by management, investors, and outsiders.

Ezibiz India assists in conducting a statutory audit, an issue of the audit report and its filing with the tax department.

This audit is conducted as per provisions of Indian Income Tax Act, 1961 and on basis of guidelines of ICAI.  Here, an auditor provides his report on whether a transaction between Indian entity and foreign associated enterprise or transaction between 2 associated/ related Indian enterprise is at arm’s length or not. The report needs to be provided in prescribed format before 30th November of each year. Arm’s length means that if the same transaction was done with an unrelated party, whether the price would have been same or different.

Ezibiz India assist in conducting transfer pricing audit, issue of audit report and its filing with tax department

This audit is also called as Management audit because it is conducted on behest of management of the company. Here, focus is completely different than that of Tax audit or statutory audit.

Generally, scope of work and objectives of internal audit depends upon the size and structure of the entity and the requirements of its management. Normally, it covers following areas:

  • Review of systems and procedures applicable to the organization and provide Suggestions for improving them.
  • Review of adequacy and effectiveness of Internal Controls.
  • Physical examination and verification of stock, tangible assets and cash treasury.
  • Examination of internal policies/ guidelines prescribed by the management for the company, its compliance and reporting of variances if any.
  • Review of all statutory and legal compliance applicable in case of branch and reporting of deficiency, if any
  • Review of adherence to standard auditing procedures and reporting its deviation, if any.
  • Checklist provided by the head office.

Ezibiz India assist in conducting internal audit and issue of audit report to the management.

This audit is conducted as per provisions of Indian Cooperative Society Act  and on basis of rules and bylaws of the society.Normally, Registrar of Cooperative society authorized auditors to conduct audit of cooperative society.

Few of the important aspects to be considered by auditors are as under:

  • Examination of overdue debts
  • Overdue Interest
  • Certification of bad debts
  • Valuation of assets and liabilities
  • Adherence to cooperative principles
  • Observance of provisions of Act and Rules
  • Verification of member’s register and examination of their passbook
  • Special report to registrar
  • Discussion with audit management committee

Ezibiz India assist in conducting cooperative society audit, and issue of audit report to registrar.