Servicios de auditoría y aseguramiento
An audit is generally undertaken with an objective of preparing and presenting to the management and shareholders a complete and fair view of the financial position and operational results of an organization. In India an audit is carried out in line with the guidelines laid down by the Institute of Chartered Accountants in India and generally accepted audit and assurance principles.
However, an audit goes beyond achieving statutory objectives. It gives a birds-eye view of the performance of the organization, identifies potential threats, risks and loopholes which need to be addressed in order to help achieve the organizations targets.
UJA’s audit and assurance services are aimed at minimizing the possibility of fraud and error, serve as a tool for improving investor confidence and also to help the management take better business decisions and strengthen the existing governance policies.
We understand the industry needs and sector specific challenges which need to be addressed. Through our audit and assurance function, we aim to understand the critical areas of functioning which need improvement, develop a practical approach which help organizations perform better and also create a sense of certainty and assurance in minds of those dealing with the organization.
Keeping in mind the constantly changing and volatile environment under which companies operate, compliance reviews and risk mitigation activities are the need of the hour. UJA conducts compliance reviews, investigates frauds and misconducts and helps quantify and measure the financial impact of these.
UJA conducts audits in line with the guidelines laid down by the Institute of Chartered Accountants of India and the generally accepted audit and accounting principles. Services include conduct of Statutory Audit, Tax Audit, Internal Audit Transfer Pricing Audit among others.
Our audit and assurance services include :
A statutory audit is undertaken in line with the principles and guidelines framed by the ICAI. We ensure that the financial reports and statements disclose a true and fair view of the operations of the organization.
Auditoria de impuestos
A tax audit seeks to verify books of accounts of the taxpayer to ensure that compliances mandated by the Income Tax Law are adhered to. Thus, in accordance to the prevailing laws and statutes, we conduct the tax audit and make the relevant disclosures in the specified formats.
Auditoría de precios de transferencia
Transfer pricing is the term used to describe inter-company pricing arrangements related to transactions between associated, controlled or related entities. These can include transfers of intellectual property, tangible goods, services, and loans or other financing transactions.
UJA identifies and analyzes the transaction undertaken by the entity with it’s related parties, benchmarks the transactions in order to ensure that the transaction is being undertaken at arm’s length price. Subsequently, report in Form 3CEB as mandated by Income Tax Act 1961 is issued.
UJA audit ensures the appropriateness of the price set by the client for goods and services sold between controlled (or related) legal entities within an enterprise.
De Auditoría Interna
An internal audit is the evaluation of the processes set up by an organization which impact the effective working of an organization. An internal audit is the measure of the utilization of the resources of an organization, identification of potential risk areas as well as finding solutions to cope with and deal with any inconsistencies/inadequacies which may affect the targets of the organization.
UJA’s independent internal audit team works closely with the management of the organization to understand it’s business needs, the policies and the framework within which the organization operates.
Based on the objectives of the organization, our team adopts a “risk based” internal approach which includes:
- Process understanding
- Risk based process audit
- Financial, operational and compliance risk assessment
- Control gap assessment
- Assisting the management in implementing a cost effective remediation plan
- Re-assessing the remediation for effective implementation
- Business process re-engineering & implementation
- SOP compliance and writing
Management and Operational Audit
A management audit encompasses a systematic understanding of the strategies and business plans of an organization to evaluate the efficiency or performance of management over the activities of the organization.
It is a systematic review of effectiveness, efficiency and economy of operation requested by the management for reviewing special purpose accounts, cost center audit, operational functions (purchase, sale, inventory, fixed assets etc.) with an object to improve overall efficiency of the organization.
UJA’s management audit is designed to meet organization specific needs and maximize performance within the organization by addressing and focusing on key business concerns.
Auditoria de procesos
A process audit is to ensure that an organization has a pre-defined processes, evaluating these processes and ensuring if these are being complied with. We assist with evaluating the processes, identify areas for improvement and re-implement the improved processes.
Internal Financial Control over Financial Reporting (IFC over Financial Reporting)
IFC over Financial Reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statement for external purposes in accordance with generally accepted accounting principles.
Our services in order to review the IFC over financial reporting are as under :
- Identify financial reporting elements, critical processes and support systems
- Define materiality
- Document process and identify process owners
- Identify the ‘possible gaps’ in the existing process
- Prepare the Risk Control Matrix
- Remedies to the existing gaps
- Test the operating effectiveness of the remedial functions.
Audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness.
Investigative and Forensic Audit
A forensic audit deals with identifying financial irregularities and fraud, misconduct in an organization, business disputes, threats to the organization. Such audits are carried out upon request of the management to investigate sensitive issues like suspected fraud and misappropriation.
Our team of professionals with it’s unique expertise and skills help investigate sensitive areas where there is a suspected fraud, and develop practical solutions that would aid as a proactive measures to mitigate such risks.
Investigation, Fraud Risk Management, License/Software Management are the core areas to be covered during this Audit.
Information Systems Audit
An Information Technology Audit or Information Systems Audit is an examination of the management controls within an information technology (IT) infrastructure. IT audits are also called as "Automated Data Processing (ADP) Audits" and "Computer Audits".