EXTERNAL AUDIT
External Audits are customized to suit individual organization needs based on the
client's business, their industry and internal controls. R&A designs customized audit
plans that operate on a risk-based model that relies on the business areas significant to
the client's financial statements.
As a result, its audits enable early identification of business and control vulnerabilities
and opportunities. The salient features of its audit approach include:
- Customization of Audit Plans with an industry focus
- Excellence in Audit Execution
- Commitment to Quality and Controls
Apart from traditional audit, R&A plays a vital role
- in monitoring organizational ethics;
- in reviewing operational and financial performance;
- in assessing the quality, economy and efficiency of operations;
- in conducting process and control review and
- in suggesting strategies for continuous improvement.
ACCOUNTING AND FINANCIAL REPORTING
With an ever increasing mobilization for convergence of financial reporting and
accounting standards across the globe, there is a renewed focus on realistic economic
representation and financial reporting process standardization. The financial information should have increased market relevance for the global investment community, analysts and regulators.
As the global economic scenario continues to evolve, access to key accounting and
auditing guidance is critical for a client's business and for effective and efficient audit
implementation.
R&A provides clients
- Cost effective, practical, high quality accounting and auditing guidance.
- Assists them in their efforts to meet complex financial reporting requirements.
- It takes the responsibility of ensuring transparency, accuracy and timeliness in
financial reporting so that it addresses the legitimate needs of all the stakeholders.
- Provides a comprehensive overview of company's financial information.
INTERNAL AUDIT AND PERFORMANCE REVIEW
In today's volatile business environment, organizations face a wide array of complex
business risks. These risks come in the form of many issues: regulatory compliance,
litigation, competitive market pressures, changing technology, investor demands,
corporate governance, business ethics, and accountability.
- R&A assists clients in effectively managing business risks by providing a full
spectrum of corporate governance, risk management, and internal audit services.
- These services are tailored to meet client's individual needs, and provide effective
support to management in meeting the challenges and opportunities presented by
today's complex business environment.
CONCURRENT AUDIT
R&A's concurrent audit services enable clients to effectively co-ordinate their key
growth, quality and operational challenges. R&A ensures that the organization has
appropriate internal controls and processes in place so that the risk of accidental or
deliberate errors/omissions is minimized.
This empowers the company to achieve its key strategic and operational objectives and
its resources are optimized to deliver maximum possible value.
At R&A, clients derive value from experienced, objective, and industry-grounded
viewpoints. R&A offers a broad spectrum of tailored services to enhance corporate
governance; manage and mitigate business risk; provide assurance on control and
recommend strategies for improving organizational effectiveness.
PRE-AUDIT
R&A conducts examination of documents supporting a transaction or a series of
transactions before they are paid for and recorded to prevent incidents of illegal,
irregular, wasteful and anonymous disbursements of funds and improvement in internal
controls.
FORENSIC AUDIT
R&A with expertise not only in accounting and auditing procedures, but also in
legalities of accounting issues provides services in conducting Forensic Audit to unearth,
- Financial Statements Frauds
- Asset Misappropriation
- Corruption
MANAGEMENT AUDIT
Productivity and efficiency of management are key determinants of an organization's
success. R&A procedures aim to maximize management performance by focusing on
evaluating the effectiveness and suitability of controls by challenging underlying rules,
procedures and methods.
The Management Audit team of R&A collaborates with client organizations in ensuring
flawless processes, effective controls and complete compliance with internal and external corporate policies, management system standards and regulatory requirements.
R&A seek to deliver and protect value through a detailed understanding and review of
systems and processes to systematically identify the risks, prioritize risk management
and evaluate controls. R&A approach involves the use of in-house methodologies
blended with internationally accepted frameworks and standards, backed by in-depth
research and rich practice experience.
ACCOUNTING ADVISORY
Accounting Support
- Conversion and Re-presentation Support.
- Conversion to IFRS and US GAAP.
- Re-presentation in IFRS and US GAAP.
- Finalization of Accounts: Preparation of Financial Year End Accounts.
- Preparing ratio analysis and performance highlights for the management on which
business decisions can be based.
- Budgeting and cash flow planning.
- Compliance support with all periodic statutory requirements.
Accounting Process and control Setup
- Consolidation Process Setup and Support.
- Accounting Manual Preparation and Updation.
- Accounting system reviews.
Migration Support
- ERP Migration support
- Migratory Reconciliation
Transaction
Pre-Transaction
- Financial Statement's representation
- Feasibility
- Diligence
Post-Transaction
- Preparation of Fair Value Financial Statements
- Alignment to Acquirer's Accounting Policies
- Diligence