Audit And Assurance
- Statutory audit
- Internal audit and Risk assessment
- Due diligence
- Internal controls over Financial Reporting (ICFR)
- Stock audit
- Concurrent audit
- Investigation and forensic audit
- CSR audit
- Operational audit
- IS audit and SOX audit
- IND-AS/ IFRS
Pre- Audit
The preliminary phase of an audit prior to the official examination of the accuracy of an organization’s financial statement, predominantly used to establish the scope of the audit and the areas of concern. Provides a platform for:
- Gathering background information, documentations and records.
- Error rectification and prevention of ‘audit-time surprises.
- Providing point-in time financial picture of the organization
CSR Audit
CSR is an initiative to evaluate and take accountability of the company’s effect on the environment and society by addressing the well-being of internal/external stakeholders.
Strategic business benefits of CSR audit are:
- Assists in creating a positive brand awareness
- Increased employee satisfaction,
- Reduced operating costs,
- Improved community relations and corporate accountability.
Quality Audit
Quality audit is a methodical and an autonomous examination to determine whether activities of a firm complies with the planned arrangements and whether these arrangements are implemented effectively and are suitable to achieve pre-defined objectives.
It is an effective mechanism to verify compliance regulation audits with two important goals:
- Audits are intended to verify that manufacturing and control systems are operating under a state of control.
- Audits permit timely prevention of potential problems.
Quality audits can be used to establish a high degree of confidence on the product and services delivered to the end users.
Concurrent Audit
Scrutinizing the real time financial transactions at the time it has taken place/ parallel with the other transactions and checking its authenticity. Concurrent audit is mainly used for:
- Providing a clear ‘point-in time’ financial picture of an organization
- Delivering an error management tool
RPSV, has expertise in conducting concurrent audit on behalf of banks and various financial institutions
Corporate Social Responsibility Audit
A CSR audit is an evaluation of an organization’s progress toward implementing socially responsible and responsive programs. The process of evaluating a firm’s various operating code of conduct, procedures other factors to determine its effect on a society. A review of a company’s social responsibility is an audit that looks at factors such as a company’s record of charitable giving, volunteer activity, energy use, transparency, work environment and worker pay and benefits to evaluate what kind of social and environmental impact a company is having in the locations where it operates.