Internal Audit and Internal Control System Audit

Cost – 800 USD or 60000 INR per month

Duration – up to the client decision

Output – Monthly reporting and execution

Who gets benefited?

All types of businesses.

How to book this and what is the process?

Book your time to discuss with you. We will have a detailed discussion and send you the list of items required. We will check all the details, and provide you the proper suggestions on what can be done on the next step. We will keep weekly discussions, monthly reporting, and anytime support. This payment will be full every month in advance.

Benefits of Internal Audit and Internal Control System Audit

Strong internal control, efficiency, security, integrity, reduced risk, improved compliance

Scope of Services: -
  1. Audit of all financial transactions on an end-to-end basis.
  2. Study all internal control processes in the business.
  3. Study of cost-cutting areas and reporting the same.
  4. Analyzing various financial ratios.
  5. Determining financial stability.
  6. Preparation and comparison of quarterly reports.
  7. Preparing Financial Statements for every quarter.
  8. Detailed Stock audit on annual basis.
  9. Analysis of tax planning and tax-saving avenues concerning the business of the company.
  10.   Advisory concerning business and strategies
  11.   The audit report will be submitted to the management every quarter.
  12.   The entire audit function will be carried out by a team of experienced Chartered accountants in the field.
  13.   The audit will be conducted in achieving the following objective –

A. Books of Accounts:

  1. Completeness of transactions
  2. Accuracy of numbers
  3. Adequate information in the accounting system
  4. Compliance oriented accounting, in terms of income tax, GST, company law, and other related regulations
  5. Accounting Vouchers, Invoices, Receipts, Reconciliation, and other records are maintained properly

B. Financial Control:

  1. Review of ledgers such as Employee Ledgers, Supplier Ledgers, Customer Ledgers, Tax Ledgers,  Proprietor / Director Ledgers, Security deposits, Bank Reconciliation, Bank Guarantees, to identify and initiate actions
  2. Report to management, on the GST credit not claimable or not claimed by the company

C. Statutory Compliance:

  1. TDS deduction on suppliers, TDS Payment, TDS Returns,
  2. Employee tax calculations and issuance of Form 16, TDS Returns
  3. Applying and checking GST compliance on Sales invoices, GST Payment, GST
  4. monthly Returns
  5. Applying and checking ESI, PF, and other compliance.
Welcome To SHS Advisory Group
Send via WhatsApp