What is an Audit?

The term audit usually refers to a review of the financial statement. A financial audit is an unbiased examination and evaluation of the financial statements of an organisation to ensure that the financial records represent a true and fair view of the business transactions they claim to perform.

The focus of our audit and assurance team is to provide quality services and to offer helpful suggestions that develop your operations, to give financial guidance, when necessary, to provide you the Best Audit Service, and to deliver a level of service that result in a long-lasting relationship. We aim to be first on your mind when you have any questions, and we take a suitable time to form that good relationship.

Let us have an overview of our Audit and Assurance Services:

• Statutory Audit
• Internal Audit
• Tax Audit
• GST Audit
• Fixed Assets Audit
• Revenue Audit
• Forensic Audit
• Bank Audit
• Stock/Inventory Audit
• Special Purpose Audit

Statutory Audit:

A statutory audit is a legally required review of the correctness and accuracy of a company’s financial statements and related records. The sole objective of a statutory audit is to assess whether an organisation provides a fair and correct presentation of its financial position by examining data such as accounting records, bank balances and commercial transactions.

Internal Audit:

Internal auditing is an objective assurance and consulting activity intended to add value and improve an organisation’s business processes. It can help an organisation fulfil its strategic objectives by taking a systematic, well-organised approach to assessing and enhancing the effectiveness of risk management, control, and governance processes.

Tax Audit:

Tax Audit involves an audit of financial records of a business in compliance with provisions of the Income-tax Act in India and providing disclosures in the prescribed formats. We have a team of experts who work with different taxes like Income tax, GST, etc. Our satisfied clients have rated us as the best Income tax audit firm in Hyderabad.

GST Audit: 

GST audit means an examination of statements, records, returns and related documents furnished by the registered persons. GST Audit is conducted to verify whether the sales, output tax paid, input tax refund claimed, and ITC availed stated in his annual report are true and fair.

GST audit is a reconciliation statement of audited financial statements with the annual return furnished. Further, a GST audit also assists in assessing whether the taxpayer is obedient with provisions of GST.

Fixed Assets Audit:

Auditing fixed assets is vital to ensure that accounting for capital assets and depreciation complies with the objectives of management. Fixed asset audit helps to prepare the accurate balance sheet. Hence it ensures regulatory compliance. Also, fixed asset audits provide better internal control.

Revenue Audit:

This is a two-step process which scrutinises the data and information as provided in tax returns against the ones found in actual business records.

Forensic Audit:

A forensic audit is an examination and evaluation of a firm’s or individual’s financial information for use as evidence in the court of law. A forensic audit can be conducted in order to prosecute a party for fraud, embezzlement or other financial claims. To understand the legal consequences that a person attracts on being caught in a forensic audit, it is necessary to know about the various statutes that talk about the implementation of forensic audits in India.

Bank Audit:

A Bank Audit is a systematic, unbiased examination of a bank’s financial records, internal controls, and operational processes. It ensures compliance with statutory regulations (like the RBI guidelines in India), verifies the accuracy of financial statements, and assesses the effectiveness of risk management systems. Because banks handle large-scale transactions and rely heavily on technology, a bank audit places special emphasis on IT security, fraud detection, and money-laundering safeguards. By identifying potential weaknesses and recommending improvements, a bank audit upholds the institution’s financial integrity and strengthens public confidence in the banking sector.

Stock Audit/Inventory Audit:

Sock or inventory audit means physical verification of stock of a company or institution. Every business organisation at least needs to conduct a stock audit once a year to update and ensure that the physical stock count and the computed stock in the books match. A stock audit helps in analysing the discrepancies between the actual physical inventory and stock register maintained by the management.

Due Diligence:

Due diligence relates to the process of research, investigation, inquiry, study and analysis that is done before an acquisition, investment or partnership to ascertain the value of the subject of the due diligence or whether there are any significant issues. The prospective acquirer/investor should assemble all the necessary information within the predetermined period.

The need for due diligence exercise can be reasonably associated with the phrase forewarned is forearmed. Though the due diligence is not a panacea against investment failures, it renders the likely buyer with proper information. It aims to acquire and assists manage associated risks.

Audit and Assurance at Nadeem Sarwari and Associates

We, at Nadeem Sarwari & Associates, one of the renowned auditing firms, are known for providing the best audit services. Meeting and fulfilling clients’ needs requires us to stay updated on every change in the field of auditing, as well as being conscious of the issues that you may face both internally and externally.

We help in providing top audit and assurance services and engage our prestigious clients on an ongoing basis to ensure that statutory and regulatory requirements are adhered to. This includes the required disclosures and value-added Services.

We offer quality audit assurance services so that you can spot hidden potential and prospective trouble areas in your business. We work with the highest possible levels of integrity and professional ethics while maintaining the required business standards.

We also offer quality assurance services so that you can spot hidden potential and prospective trouble areas in your business. We work with the highest possible levels of integrity and professional ethics while maintaining the required business standards.

If you are seeking audit and assurance service in India, please feel free to reach out to us at.