Audits are performed to ascertain the validity & reliability of information; also to provide an assessment of a system’s internal control. The goal of an audit is to express an opinion on the person/organization/system (etc.) in question, under evaluation based on work done on a test basis.

Due to practical constraints, an audit seeks to provide only reasonable assurance that the statements are free from material error. Hence,statistical sampling is often adopted in audits. In the case of financial audits, a set of financial statements are set to be true and fair when they are free of material misstatements –a concept influenced by both quantitative and qualitative factors.

The following audit services are provided by us:
-> Bank Audit
-> Statutory Audit
-> Internal Audit
-> Due Diligence Audit
-> Special Investigation Audit
-> Management Audit
-> Tax Audit
-> Certification Work

Finance is the life blood of any organisation, having too less of blood leads to anemia in human beings, similarly paucity of finance leads to decrease in activities or shelving of future expansion plans of any organisation and may even lead to failure of business.

We implement the best of industry standards in our audit processes and assist you with tailor-made solutions to meet your specific audit needs. Our experienced accountants will evaluate the efficacy of the internal compliance mechanism of your company and ensure that all reporting needs are complied with.

We offer services for arranging finance for businesses to meet its various needs. Our range of services cover debt funding, PE (Private Equity) Funding, Project Financing through banks and other financial institutions etc. Brief details of our services are provided below.

-> Private Equity [PE] Funding
-> Project Financing

We are able to assemble a cross-functional team of specialist service providers including public relations, valuers, insurers, specialist debt & equity financiers, solicitors and human capital providers, working as lead project managers or alternatively as discrete service providers as part of a larger project team.

We work with clients to identify and maximize value at every point in the transaction lifecycle. Facilitating finance, accounting and business consulting resources, we work closely with clients to make informed investment decisions as well as improve the performance of assets they already own – providing independent and objective analysis that goes well beyond routine due diligence.

Our aim to help clients solve human resource challenges and overcome any hindrance. We help our clients to increase the effectiveness of the organization by aligning their goals with that of the people within the organization. We support our clients in upgrading the capabilities of the people within the organization and work with the executives to identify the current talent and hidden talent within the organization.

-> Advise on changes in employment laws, rules, regulations and guidelines, their impacts and effective dates.
-> Assess how well human resources management is linked to agency mission accomplishment.
-> Building the right team.
-> Confer with management regarding the initiation and implementation of new workplace/workforce initiatives.

We have years of experience in a wide array of industries. Our full line of tax services includes preparation of tax returns for individuals, corporations, partnerships and for other enterprises.

We help you in the following areas
-> Business and individual tax planning, projections, and valuations.
-> Delivering value added services.
-> Designing the best tax-structure for our clients, in compliance with the statutory regulations.
-> Getting tax services streamlined for our clients.
-> Innovative ideas which are practical and can be systematically implemented.
-> Minimization of risks resulting in higher financial stability.
-> NRI Taxations and foreign company's tax matters.
-> Representation before taxing authorities.
-> Special reports & projections for tax planning.
-> Support for business acquisition, reorganizations, mergers, and incorporations.
-> Tax planning opportunities for clients Domestic and expatriate tax expertise.
-> Tax Representation.
-> Understanding the business vision of the client's organization.

Legal Process Outsourcing (LPO) refers to a law firm or corporate legal department obtaining legal support services from an external law firm or legal support services firm. Typically, a lawyer will contract either directly or indirectly through an intermediary with an individual or a firm to perform various legal support related services. Following are the important services of LPO:

-> Bookkeeping and billing
-> Contract management
-> Contract review
-> Data analysis and management
-> Document drafting
-> Document production
-> Due diligence
-> General litigation support services
-> e-Discovery
-> Intellectual Property (IP) services
-> Legal research
-> Legal transcription

A Special-purpose acquisition company (SPAC) is a pooled investment vehicle that allows public stock market investors to invest in private equity type transactions, particularly leveraged buyouts. SPACs are shell or blank-check companies that have no operations but go public with the intention of merging with or acquiring a company with the proceeds of the SPAC's initial public offering (IPO).

We can help you in following areas
-> Attaining Regulatory Approvals
-> Financial Due Diligence
-> Financial Projections
-> Legal Due Diligence
-> Outline Legal Documents
-> Proxy Preparation
-> Structuring the Deal
-> Preparation of Target Companies Financial Statements under USGAAP

Knowledge process outsourcing (KPO) is a form of outsourcing, in which knowledge-related and information-related work is carried out by workers in a different company or by a subsidiary of the same organization, which may be in the same country or in an offshore location to save cost. We are a firm of Professionals, providing knowledge outsourcing services in respect of following areas.

We help you in the following areas
-> Accounting & Book Keeping.
-> Analysis of Management Information System.
-> Assets Record keeping & verification.
-> Business & Market Research.
-> Business and Technical Analysis .
-> Continuous business improvement in business cycles.
-> Credit appraisal of customers.
-> Data Analytics.
-> Evaluation of business process and its streamlining.
-> Evaluation of supply chain.
-> Intellectual Property (IP) Research.

Intellectual Property refers to creation of mind i.e. inventions, industrial designs for article, literary & artistic work, symbols etc. used in commerce.

Intellectual property is divided into two categories: industrial property, which includes inventions (patents), trademarks, industrial designs, and geographic indications of source: and Copyright, which includes literary and artistic works such as novels, poems, plays, films and musical works etc.

According to the TRIPS Agreement, the intellectual property has been classified into-Patents, Industrial Designs, Trade Marks, Copyright, Geographical Indications, Layout Designs of Integrated Circuits, Protection of Undisclosed Information/Trade Secrets.

ISO standards make a positive contribution to the world we live in. They ensure vital features such as quality, ecology, safety, economy, reliability, compatibility, interoperability, efficiency and effectiveness. They facilitate trade, spread knowledge, and share technological advances and good management practices.

ISO (International Organization for Standardization) is a global network that identifies what International Standards are required by business, government and society, develops them in partnership with the sectors that will put them to use, adopts them by transparent procedures based on national input and delivers them to be implemented worldwide.

ISO standards distil an international consensus from the broadest possible base of stakeholder groups. Expert input comes from those closest to the needs for the standards and also to the results of implementing them. In this way, although voluntary, ISO standards are widely respected and implemented by public and private sectors internationally

We have all heard of products proudly proclaiming their ISI mark. ISI stands for the Indian Standards Institute, a body set up when India gained Independence to create standards needed for orderly commercial growth and maintaining quality in industrial production. By the mid-80s the country’s socio-economic climate had changed, triggering the need to set up a stronger body, the Bureau of Indian Standards (BIS), which then took over ISI. But the term “ISI mark” continues to be used to mean that a certain product conforms to the quality standards set up by the government.

There are 16 broad categories, including textiles, packaged water, food, automobile components, plastic products and electronics, for which BIS has laid down standards. If anyone wants to add a new category to the current list, they can apply for it. There are 19,000 standards formulated for products across the 16 categories.

A body called the Certification Advisory Committee, consisting of people from sectors such as manufacturers, consumers, government agencies, industry associations, exists under BIS to advise on policies and formulation of standards on different products.

Agmark is a Quality Certification Mark of the Government of India given to products confirming to scientificallylaid down quality standards.

Products commonly certified under AGMARK
-> Honey
-> Ghee, Butter
-> Chillies, Turmeric, Curry powder, Garam Masalas, Cardamom, Cumin, Coriander and other curry powders.
-> Vegetable Oils
-> Spices
-> Wheat, Atta, Maida, Suji, Besan, Pulses and many more items required by customers.

It is given to the packers authorising them to grade their commodity under AGMARK. Period of Validity will be 5 years.

For granting new certificate of authorisation separate application for each commodity should be produced.

Dialogue and Participation How we govern our corporations plays a central role in the strength and health of our global economy. Today, there is a growing dialogue among the different stakeholders about corporate governance and how it should evolve to cope with the increasingly dynamic and global nature of our capital markets. This dialogue is taking place against a background of legislative and regulatory change; the implementation of International Financial Reporting Standards around much of the world; an increase in the scope of audit and other internal control and risk management activities; and increased public scrutiny. It is only with dialogue and the active participation of all stakeholders that the appropriate balance can be reached between: strengthened central controls and fast local responsiveness; effective risk management and the enduring need for innovation; the additional costs of the new corporate governance and the value it seeks to protect and enhance.

A Strategic Opportunity for Listed Companies Around the World The move to International Financial Reporting Standards (IFRS) is the single most important initiative in the financial reporting world. Global financial markets demand international consistency in accounting and auditing standards and approaches. Several countries have either adopted IFRS or are basing their local standards on IFRS. Today, many listed companies are converting to IFRS – the single most important initiative around the world. In order to use IFRS now, and in years to come, companies need to carefully plan and have a dedicated conversion strategy.

Risks change. Priorities change. People and processes change. When that happens, your business becomes exposed—unless you have a sustainable approach to risk management. In this section you will find S P Thakkar & Associates's perspective on managing risk—the most important risk issues that our clients are seeking advice on; our global risk research into the views of key stakeholders; the unrivalled sector insights that our industry teams offer, and risk case studies that demonstrate how we are helping clients to tackle both the opportunities and threats of risk.

CEOs and CFOs of listed companies are being held more accountable for the integrity of their financial statements and the effectiveness of internal controls. Directors and audit committees are taking on greater responsibility for overseeing management and for the relationship with the external auditor. In the near future, investors will see new reports from management and auditors about whether adequate internal control over financial reporting is in place. This information is important to investors because good internal control over financial reporting is one of the most effective deterrents to fraud and a key factor in preventing financial misstatements.