Audit and assurance services are at the core of any Financial Management setup and go beyond merely meeting statutory requirement. It ensures proper working of the organisation according to laid down internal controls and also the efficiency and effectiveness of the controls itself. At DNS & Associates, we help our clients to perform better and we offer a complete range of Assurance Solutions to help improve your financial efficiency, accuracy and stability.
We provide a range of assurance and business services to a diverse client base ranging from small businesses & start-ups to substantial international groups and development sector.
Statutory Audit (Public and Private Companies)
Statutory audit is an audit applicable to companies to ensure that the books of accounts and information provided to the regulatory authorities and other stakeholders are impartial, true and perfectly fair. Apart from annual financial statements, in many cases other forms of reporting are also required.
In simple terms, every Company, whether it is a private limited company or a public limited company, is required to conduct statutory audit as per Section 139 of Companies Act, 2013.
Our statutory audit team consist of ever improving set of skilled individuals and thoroughly committed to deliver audits and reports that can add value to the endeavours of a company.
Internal Audit/Management Audit
Today Internal Audit is not just an audit of financial working of an organisation. It has evolved to become a tool in the hands of management to ensure proper working of any function of the organisation be it production or sales or finance or human resources.
Our Internal Audit Department strives to ensure that Internal Audit is conducted with the highest standards & auditing procedures to ensure total compliance of client’s requirements.
Over the time the role of Internal Auditor has widened from just ensuring the correctness of financial system of any organisation to include consultative processes like advising on better utilisation of organisations resources, better management of financial as well as non-financial functions etc.
Our Internal Audit Department strives to ensure that Internal Audit is conducted with the highest standards & auditing procedures to ensure total compliance of client’s requirements.
As per Section 138 of Companies Act, 2013 internal audit shall be conduct by a chartered accountant or cost accountant or such other professional as may be decided by the Board. Following class of companies shall be required to appoint an internal audit:-
a) Every listed company;
b)every unlisted public company having-
i. paid up share capital of fifty crore rupees or more during the preceding financial year; or
ii. turnover of two hundred crore rupees or more during the preceding financial year; or
iii. outstanding loans or borrowings from banks or public financial institutions exceeding one hundred crore rupees or more at any point of time during the preceding financial year; or
iv. Outstanding deposits of twenty five crore rupees or more at any point of time during the preceding financial year; and
c) Every private company having-
i. Turnover of two hundred crore rupees or more during the preceding financial year; or
ii. Outstanding loans or borrowings from banks or public financial institutions exceeding one hundred crore rupees or more at any point of time during the preceding financial year
Inspection and Investigation Audits
Inspection is a way to verify compliance on schedule maintenance, equipment integrity, safety equipment etc. Inspection looks at the physical conditions of assets in a workplace.
Investigation is a type of enquiry in which special fact or truth is revealed with the help of evidences. Investigation is performed by the experts as per requirement of the organization. The investigation is not a regular activity, it is only conducted when there is doubt on the documents provided by the company.
Legal and Compliance Audit
Legal audit is a process of independent examination of compliances of an organization to the laws, rules, regulations, and notifications etc. applicable on the organization. Legal audit helps to minimize business risk by verifying and identifying the non-compliances of the company. It also helps in preventing potential legal fines and penalties for non-compliance.
Internal Finance Control
"At DNS & Associates, we offer a complete solution to listed as well as unlisted companies in meeting their compliance related to internal financial controls and strengthening their internal financial control system.
Our services include:
a) Preparation of Risk Control Matrix for the various business processes;
b) Process notes detailing the process flow and also the details of how the process is carried out;
c) Preparation of IFC and related components of IFC such as process owner, nature and type of control, process documentation guiding the process;
d) Testing of design and operating effectiveness of the IFC based on a sample of transactions;
e) Report on deficiencies observed and action plan for remediation"