Audit and Reporting Services
At Hemani Associates our Firm’s audit and reporting approach is business oriented. It focuses on an understanding of the client’s business much deeper than the knowledge of the accounting system and records on which auditors have traditionally concentrated. We reflect this business orientation in several ways: our audit and reporting focuses on the substance of the underlying business rather than just the financial statements; we use our knowledge of the business and consider other services we provide in determining our audit and reporting procedures.
Furthermore, a corporate’s journey to success is governed by increasingly complex and broadening regulatory requirements. We can assist you meet these demands by providing a timely and constructive challenge to management, a robust and clear perspective to audit committees, and transparent information to your stakeholders and investors.
We provide the following Audit and Reporting Services:
1 Internal Audit Service – In the advent of complex regulatory requirements, it has become mandatory for various class or classes of companies to appoint an internal auditor. Even if not by law, it is essential to keep an eye on all the departments of your entity by having an internal auditor whose responsibility is not just limited to that of external auditor towards financial position rather it extends to all the operations too. We provide internal audit services adding considerable value to our clients by way of providing recommendations for process improvements.
Our audit process is a refined, comprehensive and flexible procedure to provide clients with the maximum benefits from an audit. We help our client to form a clear picture of their company’s financial position; our objectives are to assist our client’s business and to help them address the growing public interest in corporate accountability.
We are a firm proponent of risk based auditing. We stress on a value added approach focused on Business Processes and in building up a strong relationship with Audit Committees, by communicating efficiently and effectively.
Our internal audit service include:
a) Complete outsourcing of internal audit function
b) Compliance with management controls
c) System and process improvements
d) Financial impropriety and fraud audits
e) Due diligence for acquisitions and investments
f) Co-sourcing and supplementing internal audit function along with the existing capabilities of the client organization
g) Deputation of personnel to strengthen the internal audit function of client organization
h) Conducting concurrent audits with dedicated teams for more focused transaction audits as well as on-line auditing/pre-payment audits
i) Conducting operational audits through review of business operations, activities, etc
j) Conducting special purpose investigative audits
k) Techno Commercial Concurrent Reviews
Our emphasis is on ensuring strong internal control systems to minimize the risk of accidental or deliberate errors and omissions. Safeguarding of assets, adequate division of authority over key control areas and compliance with internal operating policies and guidelines are other focus areas of our procedures. Our objective is to ensure that resources of the organization are optimized to deliver maximum possible value.