Audit approach of the firm is to concentrate efforts on controls and key risk areas enabling to provide a straight forward, cost effective audit. In business annual audit can sometimes feel like a time consuming and expensive process. MJP makes sure that all your onerous reporting requirements are met as painlessly as possible – keeping banks, creditors, and finance providers, happy.
Audit quality is of fundamental importance for maintaining trust in the financial reporting process and the integrity of financial information. The experience of audit teams, covering many industries and service sectors, enables them to focus on key areas of risk, adequacy of internal controls and potential areas of fraud.
All our audits begin with a full assessment and understanding of the client’s business and operations. This allows us to provide constructive suggestions for improving business strategies, management information and controls. Our examinations are based on statutory requirements and local auditing practices and our procedures comply with the auditing standards as issued by Institute of Chartered Accountant of India.
Internal auditing is a profession and activity involved in advising organizations regarding how to better achieve their objectives. MJP provide businesses with risk management advice and support, drawing on the resources, expertise and experience. The benefits that will enhance to the client’s management from the internal audit service may include, but not be limited to, the following:
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Sound advice on operations, performance and internal controls
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An assessment of whether the procedures adopted comply with the envisioned policies
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An assessment of whether best practices are being implemented throughout the organization
We provides following Auditing and Assurance Services:
Statutory Audit
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Company audit required under companies act,2013
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Limited liability partnership audit required under limited liability partnership act,2008
Audit Under Tax Laws
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MJP also serves its clients in the area of tax audit. Tax audit is carried out as per the applicable Income Tax act, 1961.
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Audit under GST Act.
Internal Audit/Concurrent audit
Concurrent audit includes systematic and timely examination of financial transaction on the regular basis to ensure accuracy, compliance with procedures and guidelines. MJP emphasises on ensuring regular compliance to concurrent audit in order to minimize the risk of accidental or deliberate errors or omissions. Safeguarding of assets, adequate division of authority over key control areas and day to day compliance with internal operating policies and guidelines are focus areas of internal audit procedures.
Management Audit
Management audit covers the systematic assessments of methods and policies of an organisation’s management in the administration and the use of resources, tactical and strategic planning. MJP seems to maximize management performance by focusing on improving processes within the organisation.
Investigation Audit
The objective of investigation audit is to critically review the operation at various levels of the management to ensure flawless processes and effective control. Organisation does face situations involving fraud and financial impropriety, despite of having designed and installed high quality control system. MJP embraces the assisted clients in unearthing such situations and taking remedial actions.
Information system audit
MJP provides services in respect of-
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Information system audit.
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Enterprise resource planning audit (ERP) audit
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Information security management system
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Software implementation consultancy
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Software testing