Services

Statutory And Internal Audits

At Dang & Associates, we offer comprehensive Statutory and Internal Audit services designed to help businesses ensure financial transparency, compliance with regulatory requirements, and operational efficiency. Our team of experienced auditors provides both statutory audits as per legal requirements and internal audits aimed at enhancing internal controls and improving business processes. Whether you are a publicly listed company or a private enterprise, we help you stay on top of your financial reporting and regulatory obligations while adding value through insightful recommendations.

1. Statutory Audits

Statutory audits are a legal requirement for companies and businesses to ensure the accuracy and reliability of their financial statements. Our statutory audit services include:

• Audit of Financial Statements – We conduct thorough audits of your financial statements to ensure they accurately reflect your company's financial position, in compliance with the applicable accounting standards such as IND-AS, IFRS, US GAAP, or local regulations.
• Compliance with Statutory Regulations – Our team ensures that your company complies with all statutory requirements, including those of the Ministry of Corporate Affairs (MCA), Securities and Exchange Board of India (SEBI), and other relevant regulatory bodies.
• Certification & Reporting – We provide certified audit reports, including all the necessary disclosures and opinions, required by statutory authorities, investors, and other stakeholders.
• Tax Audit Compliance – Assistance with tax audits as per the provisions of the Income Tax Act, 1961, ensuring compliance with tax-related matters and proper tax reporting.
  
  

2. Internal Audits

Internal audits are essential for evaluating the effectiveness of internal controls, risk management, and governance processes. Our internal audit services are aimed at identifying areas of improvement and safeguarding business assets. We provide:

• Risk-Based Audits – We perform risk assessments to identify potential financial, operational, and compliance risks, and recommend strategies to mitigate these risks.
• Internal Control Evaluation – We review the effectiveness of your internal controls over financial reporting, operations, and compliance to ensure they align with industry standards and regulatory requirements.
• Operational Efficiency Reviews – Our team assesses the efficiency of your operations and processes, identifying opportunities for cost savings, process improvement, and enhanced performance.
• Fraud Prevention & Detection – We help detect and prevent fraudulent activities by reviewing financial transactions and controls, ensuring that your business is protected from internal and external fraud.
• Corporate Governance & Compliance – Assistance in evaluating your governance structure, policies, and practices to ensure adherence to relevant laws, regulations, and best practices.
  
  

3. Compliance Audits

Ensuring compliance with various statutory and regulatory requirements is critical for business operations. We assist in performing compliance audits for:

• Regulatory Compliance – We review your compliance with local, state, and international laws, including environmental regulations, labor laws, and industry-specific regulations.
• SEBI, MCA & RBI Compliance – Ensuring adherence to the requirements set forth by the Securities and Exchange Board of India (SEBI), the Ministry of Corporate Affairs (MCA), the Reserve Bank of India (RBI), and other relevant regulatory authorities.
• Industry-Specific Audits – Tailored audits for businesses in specialized industries such as banking, insurance, manufacturing, and retail, ensuring compliance with specific industry regulations.
  
  

4. Audit Planning & Strategy

We help businesses develop a comprehensive audit plan that aligns with their operational needs and statutory obligations:

• Audit Strategy Development – We work closely with your management to design an audit plan that addresses key risks and operational challenges, ensuring a thorough and efficient audit process.
• Materiality Assessment – Our team evaluates materiality thresholds to focus on significant areas that could impact your financial statements and business operations.
• Audit Coordination & Execution – We handle the coordination of the audit process, ensuring that audits are executed according to the agreed-upon timelines and with minimal disruption to business operations.
  
  

5. Audit Report & Insights

Following the completion of the audit, we provide clear and concise audit reports that offer valuable insights:

• Audit Findings & Recommendations – We provide a detailed audit report highlighting findings, areas of concern, and practical recommendations to improve financial controls, operational processes, and compliance.
• Management Letters – Our audit includes management letters that outline any deficiencies or weaknesses identified during the audit and suggest corrective actions.
• Stakeholder Communication – We assist in communicating audit findings to stakeholders, including board members, investors, and regulators, ensuring transparency and clarity in the audit process.

6. Continuous Monitoring & Follow-Up

We provide ongoing monitoring and follow-up services to ensure that audit recommendations are implemented and that your business continues to comply with regulatory requirements:

• Post-Audit Support – Our team provides support after the audit is complete to ensure that corrective actions are implemented effectively and promptly.
• Follow-up Audits – We conduct follow-up audits to verify the implementation of recommendations and the continued effectiveness of internal controls and compliance measures.

Why Choose Dang & Associates for Statutory & Internal Audits?

• Expertise Across Multiple Frameworks – We specialize in a wide range of accounting frameworks and regulations, including IND-AS, IFRS, US GAAP, and local statutory requirements.
• Comprehensive Audit Services – From statutory compliance to internal process improvements, our services cover every aspect of auditing to provide valuable insights and ensure compliance.
• Risk Mitigation & Process Improvement – Our audits focus not just on compliance but on identifying operational inefficiencies, risks, and opportunities for business improvement.
• Independent & Objective Auditing – We maintain the highest standards of independence and objectivity in our audit approach, ensuring that your audit process is transparent and reliable.
• Timely & Efficient Audits – We prioritize timely and efficient audits, minimizing disruption to your business operations while ensuring compliance with all necessary regulations.

At Dang & Associates, we understand the importance of effective audits in maintaining financial integrity, ensuring regulatory compliance, and improving operational efficiency. Let us help you safeguard your business with our trusted statutory and internal audit services.