Audit and Assurance
With the dynamic evolution of global economies and markets, coupled with increasing business complexities and statutory requirements, the necessity for robust risk assurance has intensified. Clients now demand audit and assurance services that extend beyond conventional financial assessments.
We believe the audit process should not merely be a compliance exercise but should also add significant value to the business. Our aim is to assist management in control, compliance, and strategic and operational decision-making, thereby enhancing growth prospects. Our Audit & Assurance vertical offers a wide range of services tailored to meet the specific needs of each organization, leveraging our extensive industry experience and profound knowledge of Indian laws. This quality-driven approach ensures our professionals provide insightful audits to all our clients.
Our Services
- Statutory Audit Statutory audits report the financial state of a company to the government under various applicable rules and regulations. At M S Chambyal and Associates, our team of seasoned professionals possesses rich practical experience across various industry domains, enabling them to understand the deep-embedded aspects of the business and complete assignments promptly. Our audit reports strictly comply with the rules and regulations required by various government agencies.
- Tax Audit A tax audit involves examining or reviewing the accounts of a business or profession from an income tax perspective. The main objective is to ensure proper maintenance and accuracy of the book of accounts and to ensure that information such as tax depreciation and compliance with various provisions of income tax law is correctly reported.
- IND AS/IFRS Compliance Services Our team of seasoned professionals at M S Chambyal and Associates ensures that statutory audits comply with Indian Accounting Standards (IND AS) and International Financial Reporting Standards (IFRS). We draw on our deep industry knowledge to understand the intricacies of your business, ensuring that our audit reports strictly adhere to the rules and regulations required by various government agencies.
- Stock Audit Stocks and physical assets such as raw materials are critical real assets of any entity. Many organizations struggle to manage inventories in terms of storage, turnover, and other critical aspects. Our stock audit services identify leakages in inventory control systems and help prepare inventory management plans to achieve optimum inventory control through regular checks and involvement.
- Due Diligence With increasing business integration, activities such as mergers, acquisitions, and stock exchange listings are on the rise. Due diligence has emerged as one of the most critical and challenging tasks in these processes. At M S Chambyal, we assist management in identifying loopholes and leakages that could significantly affect business performance. We not only pinpoint the issues causing problems but also assist in designing and implementing controls to overcome these problems and prevent similar issues in the future.
Forensic Audit:
The rise in transaction volumes and complexity in growing organizations makes identifying material misstatements a significant challenge. At M S Chambyal, our team comprises specialist forensic auditors experienced in investigating and identifying various irregularities and misconducts. We focus on assessing accounting irregularities, disclosures, and compliance issues under various statutes using forensic auditing tools