Audit and Assurance

An audit is more than the objective examination and evaluation of the financial statements in order to comply with statutory obligation. It allows us to grasp a full understanding of the business environment and the laws and regulations governing the clientele operations which enable us to recommend sound and holistic solutions for outlining business strategies, performance, management information, controls, adoption of procedure with envisioned policies and assist in managing the business affairs in an conducive manner keeping in view the statutory requirements and auditing practices and also ensuring compliance with the Standards on Auditing.

Services include the below :

• Statutory Audit including Ind AS Adoption
• Tax audit
• Management and operational audit
• Internal auditing
• Audit of co - operative societies
• Audit of trust
• Compliance review
• Certification and attestation

1. Statutory Audit including Ind AS Adoption
   Comprehensive statutory audits ensuring full compliance with the Companies Act, 2013. We also assist in smooth transition and implementation of Ind AS, ensuring accuracy and regulatory alignment.
2. Tax Audit
   End-to-end tax audit services under Section 44AB of the Income Tax Act. We ensure correct reporting, timely filing, and minimization of tax risks.
3. Management and Operational Audit
   Evaluating business operations to improve efficiency, effectiveness, and cost control. Our audits help management enhance performance and optimize processes.
4. Internal Auditing
   Independent assessment of internal controls, risk management, and governance processes. Helps strengthen systems, prevent fraud, and improve operational reliability.
5. Audit of Co-Operative Societies
   Specialized audit services tailored to co-operative societies as per applicable laws. Ensuring transparency, statutory compliance, and member confidence.
6. Audit of Trust
   Audit and compliance services for charitable and religious trusts. Ensuring proper utilization of funds and adherence to Income Tax and trust regulations.
7. Compliance Review
   Systematic review of statutory, regulatory, and internal compliance requirements. Helps organizations identify gaps and maintain full legal adherence.
8. Certification and Attestation
   Issuance of certificates and attestations as required under various laws and authorities. Ensuring accuracy, credibility, and regulatory acceptance.

Specific Internal Audit services :-

At N.J.Gadhiya & Co, we provide comprehensive Internal Audit Services tailored to help businesses enhance governance, manage risks, and achieve operational efficiency. Our expert auditors leverage industry-leading practices to help you build a robust internal control environment, safeguard assets, and ensure compliance with regulatory standards.

1. Operational Audits :
   1. Process efficiency and effectiveness reviews
   2. Supply chain and procurement audits
   3. Inventory management audits
   4. Production and operations workflow assessments
   5. Cost control and resource optimization
2. Risk-Based Internal Audits :
   1. Enterprise-wide risk assessments
   2. Annual internal audit planning
   3. Risk control matrix
   4. Risk prioritization and mitigation recommendations
   5. Internal control adequacy reviews
3. Financial Audits :
   1. Internal controls over financial reporting
   2. Treasury, cash handling & bank reconciliation audits
   3. Fixed assets and capital expenditure audits