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Audit and Assurance Services

ANNUAL AUDITS:

Annual audits are mandated under the Business or Tax Laws as a statutory obligation or an event for control purpose. It provides an updated insight into the business and insight that could identify potential threats or opportunities that can factor into the business plans.

Audit quality is of fundamental importance for maintaining trust in the financial reporting process and the integrity of financial information. The experience of audit teams, covering many industries and service sectors, enables them to focus on key areas of risk, adequacy of internal controls and potential areas of fraud.

All annual audits begin with a full assessment and understanding of the client's business and operations.

This allows us to provide constructive suggestions for improving business strategies, management information and controls. Our examinations are based on statutory requirements and local auditing practices and our procedures comply with the International Standards on Auditing.

The objective of annual financial audits services is mainly directed to give opinion on whether the financial statements give a "True and Fair" view.

INTERNAL AUDITS:

Internal auditing is aimed at advising organizations regarding how to better achieve their objectives. PCM provide businesses with risk management advice and support, drawing on the resources, expertise and experience. The benefits that will enhance to the client's management from the internal audit service may include, but not be limited to, the following:

Sound advice on operations, performance and internal controls
An assessment of whether the procedures adopted comply with the envisioned policies
An assessment of whether best practices are being implemented throughout the organization

PCM provides a wide range of audit and assurance services which include the following :

Statutory Audit
Tax Audit
Internal Audit
Concurrent Audit
Certification
Management Audit
Compliance Audit
Inspection/ Investigation
Operations Audit
Forensic Audit

Audit Reports are issued under :

Indian Companies Act, 2013
Income tax Act, 1961
US GAAP
International Financial Reporting Standards (IFRS)
Special purpose audits and certifying statements required under various other laws such as Banking Laws, FEMA, Export and Import procedures, Non-banking Financial Companies Regulations, etc.
Conversion from Indian GAAPs to IFRS and US GAAP And other audits such as :
Concurrent audits
Information System audits
Special investigative and fraud audits
Due diligence audits
Audit of 100% EOUs to ascertain availment of benefits and special compliances and regulatory requirements.
Comprehensive evaluation of internal controls and internal checks and processes

The scope of audits generally includes the following-

To ensure the compliance of the LAWS related to commerce & Accounting.
To Review the present Operational Accounting Systems and to appreciate for the changes, by applying scientific methods into financial & accounting matters.
To ensure the proper Monitoring of the Management Policies.
To Co-Ordinate the work with various departments, to obtain the best Results.
To ensure proper Compliance of the Company's Manuals.
To ensure the Regular periodical reporting in the prescribed format of the company.
To ensure the requisite Timely availability data on production, marketing, financial data.
To Review the Existing Format's, and their Simplification.
To Eliminate Duplication Of Work and simplify the procedures.
To Verify The Borrowers Documents and related financial papers and there critical review.
To Review Other Issues, if any referred to by the management.

Audit and Assurance Services

ANNUAL AUDITS:

INTERNAL AUDITS:

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