Audit & Assurance
Gain Business Resilience by keeping a keen eye on your finances
Service Overview
Many businesses, especially smaller ones, often question the value of an internal audit. They worry about the cost and time involved. However, an internal audit is a strategic investment that can yield significant returns.
By examining your procedures, policies, and compliance status, an internal audit helps identify areas for improvement, reduce risks, and ensure regulatory compliance. It's not just about finding problems; it's about unlocking opportunities for growth and efficiency.
Our Approach
At Consulting & Beyond, our audit and assurance services are designed to provide you with peace of mind and a clear understanding of your business's financial health.
We believe in a collaborative approach. Our team works closely with your organisation to understand your specific needs and objectives. We provide actionable insights and recommendations to help you make informed decisions.
Our Services
Internal Audit
A comprehensive evaluation of your internal controls, risk management process, and compliance with company policies and regulations.
GST Compliance Audit
Ensuring accurate GST returns and compliance with GST Laws.
Process Audit
Analysing and optimising your business processes for efficiency and effectiveness.
Payroll Audit
Verifying the accuracy of payroll calculations and compliance with labour laws.
Stock Audit
Assessing inventory accuracy and identifying potential discrepancies.
Branch Audit
Evaluating the performance and compliance of your branch operations.
Why Choose Us
Beyond compliance, our goal is to add value to your business by identifying opportunities for improvement and cost reduction.
What we've done for some of our best clients
- A uniquely designed transparent monthly reporting structure has helped a retailer to expand from a single location to multiple branches.
- Through monthly expense budgeting of a client, excessive spending on packing & selling expenses was identified and significantly reduced.
- Turnaround of Software Company from non-compliance with STPI, FEMA, and TDS, to timely fulfilment of all compliances.
- Detected cases of employee pilferage & fraud at clients through meticulous audit procedures.
- Through our payroll audit, we achieved a substantial reduction in employee costs.
- Through continuous follow-up of the stock ageing report, helped the client to increase the Stock turnover ratio.
- Provided insight to the management regarding various cost-benefit analyses.
Frequently Asked Questions
What is the difference between an internal audit and a statutory audit?
An internal audit is conducted by an organisation's own staff or external consultants to assess internal controls, risk management, and operational efficiency. A statutory audit is mandated by law and conducted by an independent auditor to verify financial statements and ensure compliance with accounting standards.
How often should an internal audit be conducted?
The frequency of internal audits depends on various factors such as business size, industry, risk profile, and regulatory requirements. Generally, annual audits are common, but some organisations may opt for more frequent reviews of specific areas.
What are the benefits of a process audit?
A process audit helps identify inefficiencies, bottlenecks, and areas for improvement within an organisation's operations. It can lead to cost reductions, increased productivity, and enhanced customer satisfaction.
What is the role of management in the audit process?
The management is responsible for providing access to information, resources, and personnel. Effective communication between management and the audit team is essential for a successful audit.
Can you help with fraud prevention?
Yes, fraud prevention is an integral part of our audit and assurance services. We assess your company's vulnerability to fraud and provide recommendations to strengthen your internal controls.
Don't Let Financial Uncertainties Hold You Back
Contact us today to discuss your audit and assurance needs
