Accounting Services
Handling day-to-day financials: bookkeeping, ledger maintenance, journal entries, reconciliations, and preparation of financial statements like income statements and balance sheets. These services ensure accurate tracking of financial transactions for decision-making.
Concurrent Audits
A real-time audit mechanism often used in banks where transactions are checked as they occur. Typical checks include forex dealings, cash handling, loan disbursements, and compliance with norms to prevent fraud.
Payroll Processing
Audit routines focusing on payroll transaction cycles. Key controls include validation of employees, approval of timesheets, proper valuation of payments, authorized pay rate changes, and segregation of duties to prevent fraud.
Treasury and Forex Audits
These focus on cash flow, banking operations, investments, and foreign exchange transactions. Audit objectives include verifying policy compliance, assessing segregation of duties, and ensuring proper authorization. Detailed checklists cover physical controls, deal authorization, limits, reconciliations, and risk management.
Securities Audit
Regulated by SEBI in India, this involves internal audits of stockbrokers and clearing members to ensure accurate book-keeping and robust internal controls in security transactions. Audit reports are expected semi-annually.
Preparing Systems & Procedure Manuals
These manuals document organizational policies, budgeting processes, control systems, and procedural workflows. Such documentation ensures consistent practices across teams and alignment with management goals. It also aids in periodic review and updates.
Budgeting
This involves strategic and operational planning through budget creation and forecasting. Auditors assess whether budgets are aligned with long-term management goals, adequately documented, approved, communicated, and updated as needed.