Compliance Audit
What is Compliance Audit
A business entity, in any country, is a part of the legal environment and needs to abide by the regulations made applicable to them. Compliance Auditing is conducted to ascertain if the entity’s books and transactions are in adherence to legal regulations. The idea is to find gaps in compliances and correct them before Authorities get to know about them. This helps businesses in safeguarding themselves against any punitive action from the Legal Authorities.
What does Aplite offer?
Aplite is an established firm of practicing Chartered Accountants in India, with rich work experience in the Legal and Compliance industry. We have a demonstrated history of delivering excellent services to all our clients, whether domestic or foreign.
Compliance Audit is a wide sector and Aplite caters to all the client needs. Whether it be Tax Audit or audit under Foreign Exchange Management Act, 1999, Aplite covers it all. Let us have a deeper look into what all audits are covered here:
Tax Audits: In India, entities are required to undergo audits under Income Tax Act, 1961 and the Goods, and Service Tax Act, 2017. The applicability for these audits is established on the basis of the sales turnover of the entity. These are conducted to check compliance or GST Compliance of the entity’s financials with the Tax Law. Such audits can be conducted by practicing Chartered Accountants, like Aplite, wherein they certify and give assurance that the entity’s financials are in conformity to tax laws.
Aplite has gained expertise in tax audit filings over its period of existence. With an eye for detail, we study your accounts and financials comprehensively to highlight any inconsistencies and suggest measures for improvement.
Secretarial Audits: In India, entities are required to undergo audits under Income Tax Act, 1961 and the Goods, and Service Tax Act, 2017. The applicability for these audits is established on the basis of the sales turnover of the entity. These are conducted to check compliance or GST Compliance of the entity’s financials with the Tax Law. Such audits can be conducted by practicing Chartered Accountants, like Aplite, wherein they certify and give assurance that the entity’s financials are in conformity to tax laws.
- Companies Act, 2013 and the Rules made thereunder.
- Securities Contract (Regulation) Act, 156 (SCRA) and the Rules made thereunder.
- Foreign Exchange Management Act, 1999 and related Rules and Circulars.
- Regulations prescribed under Securities and Exchange Board of India Act, 1992.
- Reporting on Compliances with the Listing Agreement.
- Other Sectoral Laws, as may be specifically applicable to a company.
Aplite has seasoned professionals in every field, especially skilled to carry out these audits. With a knack for perfection, our professionals skim through your accounts and help you identify non-compliances to rule out any possibilities for legal action.
Human Resource Audits:
These audits are conducted for objective and systematic evaluation of the current practices, documentation, controls, policies, and procedures of the Human Resource Function of an organization. Human resource is one of the prime resources for any organization and thus, proper controls need to be assured over this function to guarantee an uninterrupted supply of these resources. HR audits are a useful tool to keep a check on this function.
Aplite has been delivering HR audit services for ages. Aplite has always exhibited supreme audit practices for all its clients and helped them streamline their internal functions. We take every new project as a new challenge to bring out the best results.
Bank Audits: Banks are the supreme-most financial institutions in the country. However, banks are subject to a lot of regulations and industry standards since they are quite susceptible to fraud and irregularities. Thus, banks need to adhere to a bunch of compliances and any missed shot can prove to be deadly. Bank audits come out as an effective tool to check against any non-compliances.
Aplite has been delivering bank audit services for a long time. We, as bank auditors, are fully aware of the nitty-gritties of this industry and thus, we make very sure that all your compliances are in place.
Give us a call today and our team will help you further!
Benefits of Contract Compliance Auditing Services
Accounting is one such process that is most widely used in almost every business, no matter its size. This is why companies like Aplite offer the best contract compliance audit services. Our platform has the best support from experienced team members who know customer expectations well.
The benefits of contract compliance audit services are stated below:
Benefits of Contract Compliance Auditing Services:
Accounting services at affordable prices: Many organizations have to face a lot of additional expenses when it comes to auditing. This is why companies are hiring outsourced auditing services, as they are available at very affordable prices. Even the company doesn’t end up wasting a lot of money as all their resources are cost-efficient. This might end up increasing the return on investment of the company.
Get access to experienced accountants and bookkeepers:
The best part about hiring contract audit services is that the company ends up getting the services from professional people at a lower cost. Even no extra fee is charged for gaining access to the experienced team. All the tasks related to auditing are handled with utmost care.
Scalability:
Not every company has the capacity for a separate account department to deal with auditing. Rather, taking the help of the contract compliance audit service can help the company with its scalability. This might not have much difference when they talk about the cost. Outsourcing services is the best way to migrate the work burden on people who know how to provide the best services.
Increase the flexibility to meet the business needs:
A company has to undertake so many operations altogether. If the business focuses on one process like auditing, it will require a lot of resources. Rather hiring outsourcing audit services will help the company with greater flexibility. The company can focus on other operations if they end up hiring outsourcing services.
Acts as a one-stop solution:
Aplite Advisors is one of the best audit & contract compliance services providers that act as a one-stop solution. From professional bookkeeping services to auditing, everything is available from the best and most experienced people. All the team members ensure that we add a lot of value to the client’s company. The excellent audit services can take the overall working of the business to another level.
Suppose you want to get all the advantages of outsourcing audit services. In that case, it is highly recommended to book the services with Aplite Advisors, who always know how to meet clients’ expectations.
The Procedure of Internal and Vendor Audit Services
The expert knowledge from Aplite Advisors will always ensure that everything in the procedure falls under the right category. Here are the steps of audit services stated below:
Design an audit program: I
Aplite Advisors team members help clients design the audit programs for them. Different templates can guide the client in knowing more about audit control points and selecting the audit population. This way, a proper Statutory Audit Services track can be maintained, making it a win-win situation for both client and Aplite Advisors. All the further processing is done through it.
Conducts internal and vendor audits: Aplite Advisors are known for providing the best and most transparent internal and vendor audits. A unique technology defines the process that needs to be undertaken to get the most relevant results.
Review the existing audits:
The team of Aplite Advisors pays extra attention and reviews the existing audits. This will provide a better idea of how the company was previously working. This will improve the further audits that are done by our team members.
Track vendor expirations: The Aplite Advisors keep proper track of the expiration of the vendor compliance Auditing Services in India. This step will surely help the in the annual audit process.
Aplite Advisors | The best Stock Audit Services Firm
If you are looking for the best final outsourcing help, Aplite Advisors is one of the best platforms that offer different outsourcing services. We are a very reputed form that consists of a highly-skilled and dedicated team of professionals that will help meet clients’ expectations.
You will easily experience the best contract compliance audit services with Aplite Advisors. Our financial experts will help with the best assistance to take your company working to a new level. You can contact us to book your appointment with us.
