Audit, Risk & Assurance

good-services-tax

Statutory Audit

High quality Audit and attestation services under statutory acts and regulations which are applicable in Indian regulatory environment. Our audit approach helps an organisation exercise their fiscal and compliance obligations prudently and with circumspection. Our firm’s internal quality standards and Peer review approach in our audit engagements helps us to maintain high standards of statutory auditing services, to enable us to provide a high quality audit service giving an independent view of client’s financial statements and assertions.

Income Tax audit

If the revenue from business of the company or an entity in a particular year, is more than the prescribed threshold then a private limited company or the entity is required to undergo Tax Audit under Income Tax 1961, leading to issuance of tax audit report in form 3 CA/ 3 CB and 3 CD. Tax Audit under Income tax act 1961 is also required in certain other cases depending on certain conditions as prescribed under Income Tax 1961.

We understand the fine print of Indian income tax act 1961, accordingly we provide such independent tax audit services.

Income Tax audit

Goods & Services Tax Audit

If the supply from business of the company or an entity in a particular year, is more than prescribed limit then private limited company or the entity is also required to undergo Goods & Services Tax Audit under CGST Act, leading to issuance of GST audit report.

We understand the fine print of Indian GST regulations; accordingly we provide such independent GST audit and assurance services.

Internal Audit

Our internal audit services focus on identifying and then auditing the strategic risks that can truly impact shareholder or stakeholders value. By thoroughly understanding each client’s business, we convert information into insights to uncover hidden opportunities, which enables us to engineer the improvement of client’s efficiency and desired goals. The result is improvement in client’s performance and improved decision making process which ultimately leads to strengthening and exponential growth of their business. Our Internal Audit services are also focused on strengthening of internal control and mitigation of risk.

Internal Audit

Internal control on Financial Reporting

Indian companies’ act 2013 mandates for certain companies to have a framework of internal control on Financial Reporting and testing their Adequacy and operating effectiveness.

We provide such ICFR services which help in identifying risks which are associated with financial reporting and analysis of controls which are present to mitigate such risks. Our services also include testing the effectiveness such controls. We also help the clients in formulation of Internal controls which are necessary to improve the operating effectiveness of ICFR.

Internal control on Financial Reporting

Information System Audit

Information System Audit service’s is based on CobiT methodology, involving evaluation of an organization information systems involving assessment of critical information systems, technology architecture, IT internal controls and IT processes & policies. Our Information system audit services ensure protection reliability, availability and compliance with IT policies of information assets of the client. In addition, we also offer services regarding the evaluation of the conformity of different stages of the software development process to the standards of the development process. Our strengths in the theory and practice of information security help us to ensure a robust audit process.

Information System Audit (1)

SOX Advisory Services

The Sarbanes-Oxley Act (‘SOX’)” section 404 entrusts the management of SEC registrants with the responsibility of annually reporting the effectiveness of their internal control structure and procedures for financial reporting, and attesting the financial statements. Senior management must provide assurance on the existence, adequacy and effectiveness of internal controls – and SOX also requires each firm’s external auditor to attest and report on management’s assessment.

SOX exercises in India are carried out w.r.t Standards for Attestation Engagements (SSAE) No. 18. As per AICPA; Service Organization Control reports are designed to help service organizations, organizations that operate information systems and provide information system services to other entities, build trust and confidence in their service delivery processes and controls through a report by an independent certified public accountant. To enable global entities to be SOX compliant we provide SOC 1 , SOC 2 and SOC 3 reporting services.

Ind As Advisory

Indian Accounting standards which are converged IFRS standards have been made mandatory for certain type of entities by Ministry of Corporate affairs. The regulations also give voluntary election choice to an entity to prepare its books and financials as per Ind AS. We provide Ind AS impact assessment and convergence services. We also provide opinion services for Ind As impact w.r.t specific financial component. Our services also include assistance in preparation of Ind AS compliant financials as per requirement of the entity.

US Gaap & IFRS Advisory

We provide US GAAP and/ or IFRS Advisory services to meet the global reporting requirement of any global entity. We provide US GAAP and/ or IFRS impact assessment and convergence services. We also provide opinion services for US GAAP and/ or IFRS impact w.r.t specific financial component. Our services also include assistance in preparation of US GAAP and/ or IFRS compliant financials as per requirement of the entity.

Fraud investigation

This fact finding investigation service includes determination of the amount and the circumstances of a loss, analyses of evidence and identification of possible perpetrators of Fraud. Our services include use of various forensic tools including technology to get to the base of the Fraud. In addition to investigation, we also provide Fraud prevention services, which includes risk analysis and designing of fraud prevention strategy for the client’s, enabling them to prevent any future losses due to fraud.

Contact Us
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Noida Office

C-129, Sector -2,
Noida, Uttar Pradesh -201301
INDIA

Phone

+91-120-4573207, +91-120-4573208

Delhi Office

43, Darya Ganj,
New Delhi – 110002
INDIA

Phone

+91-11-23261010, +91-11-23276542

General Email

Key Partners Phone & Email

Rajat Chawla +91-9871494499

rajatchawla@jpc.co.in

J.P. Chawla +91-9811028918

jpchawla@jpc.co.in

Richa Chawla +91-9990509709

richajuneja@jpc.co.in