1. Taxation :

Appellate :

One of the most reputed job comprising fighting the client’s case at the Appellate Stage of Tribunal which is the supreme fact finding authority a Chartered Accountant can verge upon, requiring efficacy at its best.

Assessment :

It is a post return filing stage where records of the assessee are called for scrutiny by the Assessing Officer based upon certain parameters. Chartered Accountants represent the assessee in front of the Assessing Officer and present the case accordingly. Being the nascent stage of assessment proceedings, it calls for rigorous preparation of presenting records before the various Authorities.

Return Filing :

Inceptive Stage involving filing of Income Tax and  TDS computation returns of various assesses ranging from Individuals, Firms to Public Ltd Companies. It Comprises   submitting the income for the whole year in the prescribed format based on compilation of various data and calculating various inclusions and exclusions thereon.

Tax Planning :

Involving a combination of tact and skill of the Chartered Accountant, it is the paramount step for any assessee. Pizzazz of the young blood in the team of mbk & associates traverses the tax planning of every assessee - the most strenuous step in taxation.

Written Opinion :

Enquiries of the various clients are discussed with the whole team of Chartered Accountants and after various deliberations with the client and seeking opinion of the expert on the subject, a consensus is drawn. The client’s best interests are preserved and he is advised accordingly. Standard Code of Ethic & Conduct is followed and complete respect is given to the confidentiality of the client.

2. Audit Assurance

Balance Sheet or Statutory Audit

Audit required under Companies Act, Income Tax Act, Trust Act etc. are done under this category which includes Audits of Limited Companies, Pvt. Ltd. Companies, Society, Trust, Firms, Individual Proprietary Units etc.

Internal Audit/Risk Assurance Audit

An Internal Auditor is required to see whether there is an adequate system of effective control and if there is one, whether it is strictly adhered to and, if adhered to, whether there are chances of any fraud taking place or leakage of the revenue of the concern because of delays, miscalculations, wrong handling of documents or inadequate safety measures. He has to do all this by checking all the operations and records of the client whether physically or otherwise.
There cannot be a definite procedure or area of audit for an internal auditor, he has to in fact, look at every points.

Concurrent Audit

Concurrent Audit is an examination which is contemporaneous with the occurrence of transactions. It attempts to shorten the interval between a transaction and its examination by an independent person not involved in its documentation. There is an emphasis in favour of substantive checking in key areas rather than test checking. This Audit is essentially a management process integral to the establishment of sound internal accounting functions and effective controls and setting the tone for a vigilance internal audit to preclude the incidence of serious errors an fraudulent manipulations.

Investigation Audit

In this section we discover the reasons for unwanted happenings i.e. major loss, increased cost, or any other matter which management wants to investigate. Such audit also includes ‘Special Investigation Audit’ as required by BIFR and other financial institution for erosion of capital etc.

Govt. Audit

World Bank/ADB/Other Organisations aided programmes executed through various Govt. Departments are covered under such types of Audit which includes Verification and Implementation of various terms & conditions of programmes. This also includes Audit of various Municipalities, Nagar-Nigam, Development Authorities, NGO’s and other local authorities for themselves and their State/Central Govt./International Organisation Sponsored Programmer.

Stock Audit Stock Audit is conducted to ensure that following control objectives are achieved:
  1. All the Stocks and Work-in-progress are physically counted and identified correctly.
  2. All the stocks items are correctly classified and recorded.
  3. Stock and work-in-progress belonging to third parties should not be taken into account.
  4. Stock received for sale work is properly accounted and recorded.

To achieve the above objects, Auditors apply all audit tools and procedures while conducting the Audit. Besides this it must be noted that:

  • Amount stated in Balance Sheet represent only existing stock and work-in-progress upon which company has good title stock and work-in-progress should be fairly valued on an acceptable and consistent basis.
  • Long term work-in-progress must be valued properly and adequate provision should be made for saleable losses.
  • Compliance with Companies Act and Accounting Standards
Bank Statutory Audit

Bank Audit involves expression of opinion on the financial statements being reported at the Branch level or the whole bank level. One year end audit is no substitute for a detailed inspection. The scope of Statutory Audit is essentially restricted to the verification of financial statements as on a particular date and expression of opinion about the truthfulness and fairness thereof.
Audit of a Bank whether of Head Office or its branches, whether Statutory or Internal is quite different from the audit of other commercial or industrial concerns or service institutions. It is to be carried out in a special manner different from auditing the vouchers and receipts. Bank Audit cannot be conducted merely with the knowledge of Banking Regulation Act and knowledge of accounting at other hand. A thorough knowledge of almost all statutory enactments concerning every type of transaction and in particular the various laws is absolutely necessary.

Concessionaires Audit

Since we are the empanelled Auditors of NHAI, we can perform the Concessionaires Audit for their Road Project on BOT Annuity Basis for various parts in India. We also can conduct other concessionaires agreement based audits for Annuity Based/BOT based projects.

System Audit

The system audit of any concern is to ensure that there should be proper internal controls on computerized accounts which can generate reliable accounting information. There are three major internal controls in a system based accounting system:

  1. Internal Controls at Input Stage.
  2. Internal Controls at Processing Stage.
  3. Internal Controls at Output Stage.
    Internal Controls at the Input Stage may be further imparted at the following three stages-

  • Hardware Controls
  • Software Controls
  • Data Files Controls

To achieve the above objections an auditor may adopt various procedure to conduct the system audit:
The basic approaches for system audit are-

  • Auditing around the computer i.e. Black Box Approach.
  • Auditing through the Computer i.e. Test Pack.
  • Auditing with the Computer i.e. Computer Assisted Auditing Techniques.
MIS Audit

Such audit is basically for those people who wishes to professionally verify the various MIS put before them and also analyse them in the best interest of the organisation. This is a regular process and is done on a monthly basis or on regular periodical intervals.

HR Audit/Performance Audit/Efficiency Audit

This audit covers the requirements of various HR in various departments, their performance and efficiency on a regular periodic basis. This also includes job allocation, job satisfaction and optimum utilization of HR.

ABC Audit/Circulation Audit

ABC Audit means audit of net paid sales of Newspapers and periodicals. The ABC Audit is regulated by Audit Bureau of Circulations, Mumbai which is a Co-operative association of Publishers, advertisers and advertising agencies, providing accurate reports of publications circulation. The ABC Audit is based upon the recognition of the essential relationship between the publications and the Bureau; namely that they have voluntarily joined the Bureau Solely with a view to giving out their true circulation figures. ABC Audit based upon the single concept that the realistic and tangible value of a prescribed payment for a publication is the only auditable measure of reader interest from the advertiser’s point of view and consequently it provided that only average net paid sales to readers and the distributing trade at full published prices and regular trade terms and for regular and definite periods are included for certification. The auditor is required to certify in precisely defined and unvarying terms that the results have been obtained to the auditors satisfaction strictly in accordance and full compliance with the ABC Audit formula.

3. TAX ADVISORY SERVICES :

Firm Having Experience Of Providing Comprehensive Tax Related Services And Consultancy And Is In Position To Cater To All Areas Of Taxation Including Tax Planning, Preparing And Filing Tax Returns, Attending Assessment Proceeding And Appellate Proceeding, Commercial Tax, Service Tax, Excise, Custom Etc.

4. MANAGEMENT SERVICES 

Firm Having Experience Of Internal Audit, System Study And Design, Concurrent Audit,  Comprehensive Services To Management In Areas Connected With Finance And Accounting.

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