Our approach as an audit firm includes a deep understanding of your business and the industry in which you operate, enabling us to design an effective audit plan. Our procedure has been designed to comply with:
1. International Standards on Auditing
2. Current Statutes,
3. Indian Accounting Standards,
4. Standards of Quality Control (SQCs),
5. Standards on Auditing (SAs),
7. The guidelines issued by the regulatory board regularly.
Risk Advisory Services
Risk Advisory is a mechanism to help a business identify the potential risk along with a plan to minimize or mitigate that risk. It consists of services designed in a manner to assist an organization in fulfilling strategic goals by providing ready help to anticipate the risk and meet regulatory compliances requirement.
We assist our risk advisory clients on controls, risk, processes, governance and compliance requirements. We support them with the help required to identify potential risk and further manage that risk. We also assist them in dealing with the consequences in cases where risk becomes a reality.
Compliance Management Services
Every organization today faces a very complex compliance environment irrespective of its size, where any non-compliance will lead to penalties, fines and more importantly risk of harm to its reputation, in this scenario a well experienced and competent compliance management team comes into play.
We at AKM Global work with our clients to understand the business and industry in which they operate and form an integrated strategy to ensure that all the compliance requirements are fulfilled in due time. This allows the organization and management to focus on other important areas and not waste time and efforts on complicated compliances.
Internal Audit Services
In current scenarios, internal audit is seen and implemented as a key strategic tool for the company. A well-structured internal audit function with its objective to reduce the challenges faced by management, audit committee, and other stakeholders, can add value to the company. We, as an internal audit firm in india, ensure exactly that for our clients. Internal Audit is a third-party evaluation of the operations of an entity with an objective to improve performance, develop a strategy to manage the risks, maximize the value of the entity, and identify any opportunity of further improvement. Internal Audit is a procedure undertaken by management to get clarity on the effectiveness of the internal controls in place.
We at AKM Global assist our clients with an in-depth analysis of their operations and advise them on critical risk areas and possible opportunities for improvement. With our integrated approach to internal audit we help them boost performance and add value to their operations.
Our dedicated team of experienced and certified professionals assist our clients to understand the various aspects of internal audit and customize audit techniques as per client requirements to conduct the audit of internal financial controls over financial reporting.
Information Technology Assessment and IT Audit
Information Technology is the backbone of the operations at any company which makes an IT audit a crucial step in maintaining the stability in an organization. IT audit is an examination of the Information technology infrastructure to assess its effectiveness, performance and if it is aligned with the objective of the entity. It is an important step to ensure that the IT controls are in place and are enough to protect the organisation’s assets, data, and information, or if any further improvement is required.
AKMGlobal conducts a forensic audit when a fraud is suspected and sometimes as a precaution to prevent any fraud
We at AKM Global work with our clients after understanding the case and nature of the fraud they are dealing with. We have a team of experienced and certified professionals who are capable of handling the forensic audit engagement with supreme integrity and independence and strive to deliver quality according to the needs of our clients.
Our Audit and Assurance Services Involves:
• Audit of Financial Statements
• Tax Audit Services.
• Forensic Audit and Fraud Detection Services.
• Risk assessment and Risk Managements Advisory
• Internal Audit
• Employee Benefit Plan Audit
• Information Technology Assessment / IT Audit
• Accounting and Tax Advisory
• IFRS Transition Advisory and Implementation.
• Compliance Management
How AKMGlobal Help
We at AKM Global work in partnership with our clients to deliver supreme quality that perfectly suits their needs. We are a renowned audit firm in India andhave always maintained a high level of independent & professional consultation that have reduced the information risk.
Tax Audit under section 44AB.
• For Business, if total turnover exceeds Rs.1 Crore.
• For Profession, if total gross receipts exceeds Rs.50 lakhs.
What is audit checklist?
Audit checklist focuses on internal quality of audit which is composed of a set of questions derived from three main audit segments: management, finance, and operations.
What documents do you need for audit?
Following documents are needed to conduct the audit:
• General ledger
• Trail balance
• Copies of loans, leases and material contract
• Loan statements
• Listing of all new fixed asset purchases with invoices
• Depreciation schedule
• Payroll reports, if any
• Stock subscription and stock option agreements
• Names and contact information for any attorneys used and transfer agent
• Copies of merger agreements( completed or pending)
• Articles of incorporation and by-laws
• Listing of all bank accounts, including bank name, account number and authorized signers