Audit & Assurance

We extend comprehensive advisory and assistance services to clients in navigating accounting complexities under diverse GAAP frameworks, encompassing the seamless implementation of convergence strategies, meticulous compilation of financial statements, tailored staff training programs, and sophisticated consultancy on intricate technical matters.

With a proactive ethos, we vigilantly track emergent accounting standards, apprising our clients of dynamic regulatory mandates and furnishing bespoke solutions to address multifaceted accounting and reporting exigencies.

Our cadre of certified technical professionals, distinguished by their exemplary acumen, delivers unparalleled guidance to entities, ensuring rigorous adherence to the ever-evolving global financial reporting paradigms.

Adhering to tax audit requirements within the stipulated timelines significantly diminishes the probability of incurring penalties, fines, or legal ramifications resulting from non-compliance, inaccuracies, or underreporting of taxable income.

The proactive approach safeguards businesses against reputational damage and ensures seamless interactions with regulatory authorities, while reinforcing their commitment to financial transparency and accountability.

The meticulous process of conducting a tax audit facilitates the systematic preparation and submission of income tax returns. By ensuring that all financial records are meticulously reviewed and aligned with statutory requirements, tax audits eliminate potential errors and discrepancies.

This streamlining not only enhances the accuracy of submissions but also fosters greater confidence in the organization’s compliance posture, mitigating the risk of prolonged scrutiny by tax authorities.

Extensive experience in providing assurance services under various statutes across various industries for the past several decades.
Assurance services involve carrying out Statutory and Tax Audits to ensure that financial statements present a true and fair view of financial positions and operational results in accordance with the guidelines issued by the regulator.
Audit reports are prepared strictly in accordance with the rules and regulations defined by the Government agencies. The complete audit process is IT enabled and review and documentation is carried out through software.
Continuous knowledge enhancement is ensured through internal publications, trainings and seminars.

A thorough evaluation is conducted to determine the company's ability to generate sustainable revenue streams and achieve long-term profitability. This includes analyzing historical financial performance, market position, and growth potential, as well as identifying factors that may influence future earnings.

The audit examines the organization’s day-to-day activities, including its internal processes, workflows, and systems, to gauge overall operational efficiency. This assessment helps identify areas of strength, inefficiencies, or potential improvements, ensuring the organization is well-positioned to meet its operational goals.

The company’s exposure to internal and external risks is critically assessed, encompassing financial, operational, market, and industry-specific challenges. The audit also examines the adequacy and effectiveness of the organization’s risk management strategies and controls to mitigate these threats, ensuring business continuity and resilience.

Adhering to tax audit requirements within the stipulated timelines significantly diminishes the probability of incurring penalties, fines, or legal ramifications resulting from non-compliance, inaccuracies, or underreporting of taxable income.

The proactive approach safeguards businesses against reputational damage and ensures seamless interactions with regulatory authorities, while reinforcing their commitment to financial transparency and accountability.

The meticulous process of conducting a tax audit facilitates the systematic preparation and submission of income tax returns. By ensuring that all financial records are meticulously reviewed and aligned with statutory requirements, tax audits eliminate potential errors and discrepancies.

This streamlining not only enhances the accuracy of submissions but also fosters greater confidence in the organization’s compliance posture, mitigating the risk of prolonged scrutiny by tax authorities.

Inventory audit services will disclose any collapse due to lack of security which results in loss, theft, or misappropriation. It is very critical to any sort of inventory losses resulting from wastages, theft, dead and expired stock.

Inventory audit report empower the true picture of the financial position of the firm as the stock that requires replacement or repairment can be worked on efficiently thereby saving the firm from any kind of financial loss.

Inventory audit is needed to reduce useless investments on stocks and to make sure that you have a perfect line balancing in the process. It helps to keep a track of the inventory to avoid any shortage and overstocking of the material.

Comprehensive evaluation of internal controls, internal systems and internal processes in organizations and recommending areas for improvement.
Vastly experienced audit professionals follow a risk-based approach that involves risk assessment of the entity’s business & its key business process.
Risk based internal audit helps the risk management function of the entity by providing assurance about the risk mitigation and provides assurance to the management that risk management processes are managing risks effectively, in relation to the risk appetite.
Approach comprises of a completely independent process, and information technology (IT) internal audit sourcing capabilities that use industry leading practices and deep technical and analytical skills related to core process and related control assessments

SUMIT RANA

sumitrana@bgmg.co.in