Any Audit is done with the purpose of reviewing the business. The results of this review help to build trust and value amongst its customers and shareholders.
Our team of Audit and Assurance experts will walk the extra mile to understand your business and to identity the areas of risk in the sectors in which you operate.
We at SOS assist in conducting accounting, financial and legal reviews in case of mergers, acquisitions and investments. We assist in ascertaining if all the statutory compliances are duly met by the entity and if their books of accounts reflect their fair financial position.
Over the recent years, Internal Audit has moved a long way forward to being a strong and indispensable control tool in the hands of the management for effectively and efficiently running the affairs of a business entity. It is playing a significant and critical role in evaluating the adequacy of internal controls and assessing the extent of compliance with various statutes and suggesting ways to reducing cost and increasing productivity and promote efficiency.
As Internal Auditors, SOS can provide value added services to the management, by working along with the management to check the Internal Systems, Controls, Rules and Regulations of the business entity to verify efficiency in the system. It can help track inefficiency and loop holes in the system and guide the management in taking adequate steps and framing policies to plug such loop holes.
SOS provides Internal audit services in Bangalore as well as in other Metro cities in India
The term 'Statutory Audit' means the audit that is prescribed by any Statute in India. Different statutes like the Income Tax Act, Companies Act, VAT Act, etc. requires the audit of a business organisation and also submission of reports to them within a prescribed time frame. The purpose of such an audit is the same as in the case of any other audit - to determine if the business organisation is providing a fair and accurate representation of its financial position. This audit ensures the reliability of the annual accounts of the business.
Our Statutory audit team consists of ever improving set of skilled individuals trained extensively for conducting the auditing function, under any applicable statute or law, and also comply with the various Global Standards to ensure useability of audited accounts for most of the interested parties like financial institutions, shareholders, directors, investors, banks, government and the general public at large.
We offer Compliance Audit services to our clients, wherein we undertake a complete review of all tax and statutory compliance related to various Direct and Indirect taxes like Income Tax, Central Excise, Customs, VAT, Service Tax, etc. We also provide a comprehensive report to the clients on the status of the compliance and suggest corrective actions as required.
Apart from pointing out non-compliance, we also provide solutions aimed at minimising the risks arising out of non-compliance.
Apart from compliance with the substantive law, we also look at the procedural aspects including filing of the periodic returns, assessments, re-assessments, audits from the Departments, appeals etc.
The client can immensely benefit out of this study - he could change his systems, correct all non-compliances and could re-assure himself that his systems are working well.