Audit is the Business Function responsible for the in-depth Examination and Evaluation of the Records and Financial Statements of an organisation to ensure that the stated Records and Financial Statements are true representation of the claims of the organisation being audited. Audits are predominantly External Review Processes of the Company's/Client’s Financial and/or Business Information for a variety of reasons. Klariti Audit professionals provide Independent, Integrated and High Quality Audits, in accordance with the latest professional standards, ethics and with a focus on clients growth and business longevity. Process Accuracy, On Time Performance and Zero-Error Performance are vital to our core Existence. We keep 'Strict Quality Controls’, which help ensure timely and accurate records. Auditors @ Klariti perform the valuable and strategically critical role of Trusted Auditor (Intermediary) between the Providers of Business Financial Information (organisation being audited) and the End Users of Business Financial Information. Our services help our clients to understand the Financial Health of their business which further facilitates our Clients to take Better and Informed Business, Strategic & Financial Decisions for Higher Success Rate.
- Introductory Engagement Letter to Client
- Exploratory Meeting with Client to finalise Audit Timing, Client Pain Points, Client Preferences, Audit Objectives and Scope
- Perform Preliminary Review
- Iterate "Audit Controls" and Perform "Risk Analysis"
- Develop Audit Tests
- Perform Audit Tests
- Create Work Papers and Document Findings
- Develop Written index of Preliminary Findings and Recommendations
- Debate and Discuss Preliminary Findings and Recommendations with Client
- Create : Draft Report of Audit Findings and Process Recommendations
- Distribute Draft Report
- Review and Discuss the Draft Audit Report with the Client
- Revise Draft Audit Report as agreed upon with the Client
- Distribute the Final Draft Audit Report to the Client and request written responses
- Provide Two Weeks for Client’s responses
- Embed Client response into Final Draft Analysis Report and Confidentially share with the Client.
- After a reasonable and pre-agreed time amount, follow-up on Audit recommendations and inputs is performed to determine the status of Actions Outlined in the "Final Audit Report". Similar "Draft Audit Report" and "Final Audit Report" are prepared and distributed with the Client.
Final Draft Audit Report & Client Responses
Submission of Final Audit Report
Illuminate Current Situation for Informed Future Aspirations.
- Compliance : In India, Central Governments, State Governments, Local Governments, Government PSU, Banks, Cooperatives, Agencies and numerous Public Welfare Schemes of Government(s) have Specific Rules and Regulations with which all Individuals, Private & Public Companies, Institutions etc must comply. Compliance Audits are conducted to Evaluate Adherence to Govt Specified Regulations and also measure the clients existing systems "Compliance Effectiveness" with Statutory Requirements.
- Financial : Focus is primarily on clients Accounting Controls i.e. Integrity, Robustness and Integration of Business Functions like Financial Statements, Accounting Systems, Cash Receipts Revenue Collection, Procurement, Payrolls, Management Information System (MIC), Reporting System and Allied Procedures. The purpose is to fortify and foolproof the Accuracy of Financial Data (In-Out) within the Clients Financial System/Infrastructure.
- Assurance Services : The objective of Assurance Services is the through and in-depth review of Information Evidence for the purpose of providing an Independent Assessment. It includes the Reviewing and Evaluation of Operational Efficiencies and Effectiveness; Reliability of Financial and Operational Systems; Adequacy and Clarity of Policies and Procedures; Compliance with Policy and State and Existential Law, Safeguarding of Client Assets and Accomplishment of Objectives and Goals of the client.
- Special Investigations : Special Investigation Engagements evaluate allegations of unethical business practices and financial and operational misconduct. This further acts as a safeguard/deterrence via Audit System Fortification to prevent future occurrences.
- Follow-up Engagements : Follow-up Engagements evaluate Plans and Actions taken to correct prevalent situations and conditions.
- Consulting Services : Consulting Services include Counsel, Advice, Facilitation, Process Fortification and Specific Training. The end objective of this exercise is to Value+Add in the development or enhancement of prevalent processes, procedures, and controls to minimize risk. The Nature of Engagement, Scope of Work and Depth of Service are all agreed upon via Introductory Deliberations with Client Management.
- Troubleshooting : Identify Areas in Current Audit Process that can be Improved or Overhauled.
See Further. See Deeper into Your Business. At Klariti, we strongly believe that Audit is just not a Procedural Exercise, but an opportunity to see the Future.
- On Time, Zero Error Service.
- Multi-Lingual Audit Services.
- On Site - Off Site Services Available.
- Better Business Reporting (Business Financial Insights).
- Experienced Auditors. Diversified Domain Experience.
- Flexibility. Every Client need's are Unique.
- Audits are an Opportunity. Not Obligation.
- Latest Professional Standards.
- Focus on Quality.
- Gain Deeper Insights.
- Be Future Ready.
- Clients save on their Valuable Time with Better Insights.
Quality of Service :
Smart Audits :
Save Time :
Klariti TaxCorp LLP has a diversified portfolio of Clients for its Audit Services. Our clients range from MSME's, Private Limited Companies to Public Companies and have Line of Business's varying from Construction, Manufacturing, Services to International Trading. Our clients have Business Operations in India, Central Asia & Africa. We are committed to serving Public Sector Companies, Private Sector Companies, Family Businesses, Governments.