Regular audit of financial statements helps to see the real picture of the company’s financial performance. The availability of an independent audit report prepared by top audit firms in Delhi will increase your status among business partners, clients, and potential investors.
An audit of an enterprise’s financial statements proves the reliability of data on the results of an organization’s activities andconfirms the compliance of the documentation with applicable laws and accounting standards.
The results of the audit contain information on how correctly accounting is maintained and accounting documentation is formed in the company.
A comprehensive audit of the company’s financial statements provides for checking:
- All forms of accounting reporting;
- Compliance with the requirements of applicable laws;
- Correctness and completeness of accounting operations.
The main purpose of an audit of financial statements is to increase confidence on the part of counterparties, creditors, investors, and other stakeholders. The professional audit report prepared by expert audit companies in India allows you to achieve this goal.
Which companies need to have an audit of financial statements?
- Large and medium-sized enterprises;
- Companies of public interest (insurance and financial firms, banks, investment funds, non-state pension funds);
- Joint-stock companies
Benefits of an audit of financial statements
A timely audit of financial statements offers several advantages:
Precision and professionalism
The auditors of AKGVG work with companies in all areas of activity and have a wide range of specialized experience. The analysis of your enterprise will be carried out by auditors with many years of experience, who consider the scale and specifics of the organization’s work and apply time-tested audit methodologies.
Timeliness
You will receive not only an independent auditor’s report but also information about the shortcomings in the company’s work system. Together, the information provided allows you to detect and eliminate problems in time.
Improving reputation
An audit allows you to identify errors and shortcomings in the activities of an enterprise or organization, to reduce the risk of a conflict with fiscal authorities.
The auditor’s report is the best proof of the company’s reliability in the eyes of partners. Profitability. The professional work of an auditor will help protect the organization from tax risks and avoid paying fines
Based on the results of the audit of financial statements, the following things are provided:
- An auditor’s report with an independent opinion of the auditor on the reliability of the reporting;
- A detailed report with a description of the shortcomings;
- An indication of the legal aspects of controversial issues and recommendations for their correction.
The cost of conducting an audit is determined considering the amount of work spent on the analysis of the documentation, time, and qualifications of auditing and assurance services.
This content is meant for information only and should not be considered as an advice or legal opinion, or otherwise. AKGVG & Associates does not intend to advertise its services through this.
Posted by:
CA Aman Aggarwal
AKGVG & Associates