An foreign Entity carrying on their Business operations in India are required to get their Books of Accounts audited by a Chartered Accountant. A foreign entity is required to comply with Internal Audit, Compliance Audit, Inventory Audit, Statutory Audit; audit under FEMA regulations etc. Our audit approach is tailored to suit the size and nature of your organisation and draws upon our extensive industry knowledge. SKP’s auditing service covers the following-
Internal auditing is an independent & objective assurance designed to add value and to improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic & disciplined approach to evaluate and improve the effectiveness of risk management, control and management.
An inventory audit is an accounting procedure designed to keep track of a company’s products and merchandise. Inventory is a current supply count of company owned products.
A compliance audit is carried out to determine whether the organization is following specific procedures, rules or regulations set by a higher authority. Results of compliance audits are reported to the specific persons or authority seeking an assurance in the concerned matter.
An operational audit is a review of any part of an organization’s procedures and methods for the purpose of evaluating efficiency and effectiveness. At the completion of an operational audit we will submit recommendations for improving operations.
Revenue audit is directed towards identifying any possible revenue leakages in the form of absence / non-operation of internal control policies, frauds & errors on part of the personnel, system codification error, or in any other manner.
As vital business decisions are taken by the top management in any entity, an assessment of their competencies after certain point of time is required to be done by an independent agency. This maintains optimum independency in analysing the concerned individuals’ skills & capabilities in managing his area of operations.