Like various other aspects of any organisation, assurance services are also impacted by the global fallout, provided the Covid-19 pandemic. Businesses are uncertain about the upcoming avalanche of unprecedented challenges in the post Covid world. Revenue, survival, market, customers, competitors and government are evolving rapidly in ways that were previously not envisioned. From supply chain complexities to liquidation issues, businesses need assurance services to help them get through with a rigid plan in place. With our thoughtful and proactive response and planning, we at Sampat & Mehta assist businesses and individuals assess the losses, mitigate the risks involved and understand the severely disrupted environment as they reopen their doors to a new normal. Our major Assurance Services include
Statutory and tax audit
The aim of conducting a statutory and tax audit is to understand if an organisation is accurately maintaining its financial records like book-keeping, bank balance and other financial transactions.
Transfer pricing audit
Transfer pricing audit is done by assessing financial records such as accounts, ledgers, statutory records, transfer pricing documentation, and other agreements to determine if an organisation is following certain transfer pricing regulations.
Internal and management audit
Management audit is a standardized audit conducted to ensure that the management is constantly working towards a better objective. Our professionally competent experts help businesses decentralise and delegate authorities along with analysing the transparency and accountability of a business.
Consolidation of financial statements under Companies Act and IFRS
Consolidated financial statements are a requisite for parent enterprise, in order to provide financial information of its group. We assure meticulous consolidation of parent companies with their subsidiary(ies) as a single economic entity to deliver a representation in the form of resources, results and obligations of the group.
Financial due diligence
Before entering into any financial transaction, financial due diligence acts a financial report prepared to check and review the facts and information for matters of consideration.
Attestation and independent validation of financial data
Our expert team assesses various brand reports and provides a reliable and credible attestation on the same. Independent valuation on the other hand refers to validation of a software or product in terms of particular industry standards.
Liaison with external / overseas auditors for Group reporting
A liaison office in India helps overseas clients to understand the market conditions and provide information about its products to clients in India.
Designing and implementing an effective internal financial control system.
Financial control systems are policies and protocols, by which a company allocates its financial resources to various tasks. A management can succeed only with an implementation of an effective internal financial control system.
Implementation of Ind AS (Indian version of IFRS)
Implementation of Indian Accounting Standards involves application of various newly defined concepts which are based on certain areas of quantitative and quantitative disclosure by businesses.
Review of periodical reports and submission of MIS to the management
A Management Information System (MIS) creates reports based on the analysis of different systems, people, visualisation of information, to help management in the decision making process.
Impact analysis of Ind AS / IFRS
Assessing how Ind AS / IFRS is impacting financial transactions and information of companies is a key management service provided. It understands why and where particular standards are impacting an organisation and its operations.
Designing and testing of Internal Financial Controls
At times, businesses may lose millions in poor financial control systems. We help our clients design and test effectiveness of an internal financial control system thus reducing time and costs.
Compiling and reviewing financial statements
Our experts possess the art of compiling and reviewing financial statements of businesses which helps them build investor trust and credibility while also making sure all the financial transactions are made according to the designed statement.
Physical verification of Assets
Our professional expertise and knowledge aids our clientele in physical verification of their assets thus reconciling asset records to actual physical assets available with a company.