Established in the year 2016, we are an emerging chartered accountancy firm based in Bengaluru rendering comprehensive professional services which include audit, management consultancy, tax consultancy, accounting services and secretarial services.

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Auditing and Assurance Services

Statutory Audit
Statutory Audit is Audit of Books of Accounts in compliance with requirements of any Statute to assure true and fair view of the accounts as well as compliance with any special condition of the law under which audit is initiated. In short, statutory audit is Audit under the Companies Act. Accounts of every company integrated under the companies act in India are needed to get it audited from a Chartered Accountant in Practice to assure true and fair view of its accounts & interrelated statements. Further, the auditor has to check compliance with various regulations & provisions of the Companies Act. Statutory Audit assures reliability of annual accounts of the company for various stakeholders of Accounts of the Company like government, shareholders, debtors, creditors, bankers etc.
The complication of Statutory Audit Function has increased manifolds recently. Globalization, complex Business and Statutory environment combined with need for synchronization with various global accounting standards and ever increasing faith on audited accounts by a variety of stakeholders has put ever increasing answerability on the shoulders of any statutory auditor.
For any information / query regarding Statutory Audit feel free to contact us.

Internal Audits
Preetham Shetty & Co. is specialized in Internal/Management Audits which are primarily conducted in order to provide the client’s management a clear, comprehensive and unbiased analysis of the functional efficiency of the organization and to suggest possible areas for improvements. We Preetham Shetty & Co. strongly believe in Internal Audits being a value addition exercise rather than a mere compliance exercise. Preetham Shetty & Co. firmly believes in providing value added services through highest levels of professional competency and integrity to its clients. Our Internal Audit services are designed to suit the individual client specific needs. It provides assistance to clients in managing their key business concerns, be it achieving strategic business goals, meeting operational challenges, complying with regulatory norms or managing reporting requirements. Keeping in mind the Risk Management framework, our internal audits adopt “Risk Based Audit” (RBA) approach and other tools and techniques for accomplishing the audit objectives.
Tax Audit
The requirements of tax audit were introduced by the Finance Act of 1984, by insertion of a new section “44AB” w.e.f Assessment Year 1985-86. It was introduced in order to discourage people from tax avoidance and evasion. A Tax Audit involves an expression of the tax auditors’ opinion about truth and fairness of certain factual details, given by assessee to the Income Tax Authorities to enable an assessment of tax. Tax Audit is compulsory audit under the Income Tax Act in India which is conducted if the total turnover of a person exceeds Rs. 25,00,000 for professionals and Rs. 1,00,00,000 for persons other than professionals. Tax Audit has to be conducted by a Chartered Accountant appointed by the assessee. Tax Audit Report is provided by the Chartered Accountant in practice to the person in Form 3CD specified under the Income Tax Act. At the time of filing of the income tax return, relevant data facts from the Tax Audit Report has to be incorporated in the income tax Return. 
Our endeavor is to reduce the burden of tax and to review that disallowances and deductions if any, under the various requirements of Income Tax Act, 1961 are properly and correctly calculated, so that correct computation of assessable income can be made. Different tax audit services are provided by our Audit Department to our clients upholding the highest standards of auditing & accounting and providing a comprehensive tax audit report based on the statutory & regulatory requirements of the Income Tax Act, 1961.
Due Diligence Audit
In business, a due diligence audit is basically a careful investigation into the complete financial picture of a company. Generally, these audits come before a purchase, merger or other major decision that could negatively influence the finances of one or more businesses. These audits are generally used to ensure that no hidden liabilities exist. Due diligence can be compared to an employee background check on a corporate scale. Like perspective employees, companies wishing to be purchased are often trying to make the most positive impression possible. The strengths of the company are often highly stressed and the weakness is downplayed. A due diligence audit is the equivalent of checking references before hiring. 
In general, a due diligence audit focuses on information outside of what is freely presented. While it is generally expected for a purchasing company to perform these investigations, they are often done discreetly. The hire of private investigators is not uncommon, and seldom are the companies that are being investigated aware of the specific focuses of investigation.

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