Auditing Services in India

Role of an auditor plays while doing auditing is important to acknowledgre, as audit is not only a statutory obligation. Auditing is all about evaluating and reviewing the effectiveness of a company's internal controls/policies and its operational programmes. Business scenario is to achieve objectives not only thinking of profitability but to maintain an effective system of internal controls.

Now again we have to decide, what will do best for auditing and who can be responsible, accountable to give reliable financial reporting of operations, can prevent fraud and misappropriation of assets. Certified audit firms in India do this job in organised way and contribute to a company's audit system. Both internal and independent auditors plays a important role in feeding company’s growth by showing true and fair financial picture of company.

Certified Internal Auditors(CIA) in India always put an effort to structure an effective audit system. This system facilitates corporate to detect irregular transactions, also it can supervise, monitor and promote operational productivity. Audit system by Internal auditor can maintain proper internal control through which organization can follow and attain corporate objectives. Certified Internal Auditors in India allows to assess the risk of material misstatement in a company's financial reports. Keeping check on company’s operations and even internal control checks can detect different types of fraud and other accounting irregularities. India Certified Audit Firms, allows us to design the internal controls so that any material irregularities can be detected easily in any circumstances. Without this system of internal controls, it is difficult for a company to create reliable financial reports for internal/external purposes. Thus, to determine or to allocate resources and to know which segment and product line of the corporate is making profit/losses, it is necessary to to have an effective and efficient Internal Control System.

Additionally, a good internal audit control check also can manage affairs of the business by letting them know the exact status of its assets and liabilities. Accordingly, an effective audit control by certified internal auditor of certified audit firm in India always helps to prevent debilitating misstatements in a company's records and reports. Strong and a well balance audit systems can help in reducing various types of risk like risk of misstatements in financial statements,information manipulation, misappropriation of assets and other related type of risks.

A Certified Auditor’s responsibility is to cross check all the material items and also to evaluate regulatory compliance, maintain two way communication between audit team and management, to provide recommendations for controlling deficiencies in organization operations, providing assurance for good corporate governance and help staff to understand the risk associated with non compliance.

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Need of Payroll Management

Payroll Preparation is really important and critical tasks for any business/company as it includes the calculation of the employee’s salary alongside withheld taxes as it involves entry of the minor details and a little mistake can be dangerous. Due to this, the businesses are looking the best Payroll Management Company so that they can take responsibilities for preparing the payroll.
We have a efficient team which provides the complete service of payroll management to the business and due to their expertise in the field; we can be the best possible solution for the task.

Need for the Payroll Management in India?
The basic needs of preparing a payroll as it is really important because every company needs to pay their employee every month and for this, they need to prepare the payroll also in every month.

Basic neccesities of Payroll
A Certified Auditor’s responsibility is to cross check all the material items and also to evaluate regulatory compliance, maintain two way communication between audit team and management, to provide recommendations for controlling deficiencies in organization operations, providing assurance for good corporate governance and help staff to understand the risk associated with non compliance.

A payroll includes database regarding the pay package of the each individual employee working in company.
It will also include the number of days the employee was present for work.
1. Overtime Done
2. Calculation of leave and absenteeism.
3. Calculation of PF/ESI along with withheld task and others.
4. Considering all these factors, the salary of the individual employee is calculated and paid.

Small error in the data,lead to different kind of consequences like delay in payment,incorrect calculation of withheld taxes and others, incorrect calculation of salary. This is why payroll management company's service can be considered as the boon for Small Medium Business(SMB).
Our online payroll services offers the expertise service of payroll tax consultant along with the precise preparation of the payroll and that is also with complete responsibility and guarantee.

Our expert team of the payroll tax consultant provides the simplest and best possible solutions for the needs of SMB's for the easy and timely processing of the salary and income tax return.Company can focus on other things rather than Payroll which will automatically help Company's business.

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Statutory Audit and Tax Audit

Audit means an examination of books of accounts, statutory records, documents and vouchers conducted with the purpose of establishing the fact that the accounting records presents a true and fair view of the Organization.  It is conducted by a party which is independent of that organization.

There are various kinds of audit being conducted under different laws such as statutory audit, internal audit, cost audit, stock audit etc.



Two of the important kinds of Audit which often create confusion among Business owners are Statutory Audit and Tax Audit.

A statutory audit is an audit, which is made mandatory under The Companies Act 2013. The purpose is to check the truthfulness and fairness of accounting records.

On the Contrary, Tax Audit is defined as an audit of the accounts of the taxpayer for the requirement of Section 44AB of The Income Tax Act, 1961 for assessing the correct income of the Assesee.