Chartered Accountants in Patna, Bihar, Jharkhand, India | Auditors in Patna, Bihar, Jharkhand, India | Chartered Accountants in Patna, Bihar, Jharkhand, India | Auditors in Patna, Bihar, Jharkhand, India |
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Accounting & Auditing services in Patna, Bihar, Jharkhand, India

 

MBS is very much experienced in providing accounting & auditing services. We have association of some of renowned chartered accountants, company secretaries, cost & management accountants, which makes MBS to deliver accounting & auditing services with unmatched quality and quickest service. Services include book keeping, maintainance of accounts, preparation of final accounts, fiiling of final accounts with the government, statutory auditing, secretarial auditing & Cost auditing & assurance.

 

Accounting Solutions:

 

We offer our clients a full range of accounting and book-keeping services on the latest computerized systems. For small & large business entities which have different accounting requirements, we offer customized and personalized accounting services. We have manpower resources and competent staff to meet all the requirements of our clients when required. We furnish data and information, quarterly updates and financial statements which are accurate and timely. Our accounting services include-
•Book-keeping
•Payroll reconciliation
•Partnership accounting
•Checking account reconciliation
•Accounts receivable/Payable reconciliation
•Capital planning and Investment management
•Separate currency and Investment gain/loss accounting
•Daily on line access and timely reporting via the internet
•Preparation of management accounts and statutory accounts.

•Data Entry/Comparison of data from hard copy to soft copy & vice versa

 

Auditing Solutions:
We have association of famous chartered accountants, cost accountants and company secretaries. This makes us capable of rendering all types of accounting and auditing services without compromising our standard and quality standards on time and at affordable price: Description: http://www.akmglobal.com/gifs/zero.gif

 

1. Secretarial Audit:

Secretarial Audit is a process to check compliance  with the provisions of various laws and rules/regulations/procedures, maintenance of books, records etc., by an independent professional to ensure that the company has complied with the legal and procedural requirements and also followed due processes. It is essentially a mechanism to monitor compliance with the requirements of stated laws and processes.

Need for Secretarial Audit:
Secretarial Audit is the process of independent verification, examination of level of compliance of applicable Corporate Laws to a company. The audit process if properly devised ensures timely compliance and eliminates any un-intended non compliance of various applicable rules and regulations. An action plan of the Corporate Secretarial Department is to be designed  so as to ensure that all event based and time basedcompliances are considered and acted upon. Secretarial Audit is to be on the principle of “Prevention  is better than cure” rather than post mortem exercise and to find faults. Broadly, the need for Secretarial Audit is:
• Effective mechanism to ensure that the legal and procedural requirements are duly complied with.
• Provides a level of confidence to the directors, officers in default, Key Managerial Personnel etc.
• Directors can concentrate on important business matters as Secretarial Audit ensures legal and
procedural requirements.
• Strengthen the image and goodwill of a company in the minds of regulators and stakeholders
• Secretarial Audit is an effective compliance risk management tool.
• It helps the investor in analyzing the compliance  level of companies, thereby increases the
reputation.
• Secretarial Audit is an effective governance tool. 

The Benefits
The benefits of secretarial audit includes the following:
(a) It can be an effective due diligence exercise for the prospective acquirer of a company or controlling interest or a joint venture partner.
(b) It assures the owners that management and affairs of the company are being conducted in accordance with requirements of laws, and that the  owners stake is not being exposed to undue risk.
(c) It ensures the Management of a company that those who are charged with the duty and responsibility of compliance with the requirements  of law are performing their duties competently, effectively and efficiently. Lesson 1      Secretarial Audit – An Overview  7
(d) It ensures the Management that the company has complied with the laws and, therefore, they are not likely to be exposed to penal or other liability or to action by law enforcement agencies for noncompliance by the company.
(e) Secretarial Audit being proactive measure for  compliance with a plethora of laws, it will have a
salutary effect of substantially lessening the burden of the law-enforcement authorities.
(f) Instilling professional discipline and self-regulations.
(g) Reduces the work load of the regulators due to better and timely compliances.
Our Company is a team of young as well as experienced company secretaries, who are well versed with rules and practices of secretarial audit.

 

2.Statutory Auditing

The basic principal of statutory auditing is to ensure that the financial statements such as the Balance Sheet, Profit & Loss Account and Cash Flow Statement gives true & fair view and are free from any material misstatements. Our approach to Statutory financial auditing services of the financial statements ensures that the accounts prepared are in accordance with the Generally Accepted Accounting Principles (GAAP). We offer statutory auditing services, financial auditing services and tax auditing services.

3. Internal & Management Audits - The main objective of Internal & Management Audits is that it functions as a service to management by providing independent, management oriented advice on an organisation's operations and performance and financial services. It aims at the promotion of efficiency, economy and effectiveness of the management processes, and also the reliability and accuracy of operations. We provide better internal audits for any company of any industry. The management Audits are done by group of professionals who are experts in the field for years. They are the best.

4. Tax Audits - A tax audit, also known as tax enquiry, is an examination of one's tax affairs to check whether they have done what they are required to under the tax laws like declared all the assessable income or are entitled to the deductions and tax offsets they have claimed on their tax return. Our taxation advisory team is highly knowledgeable and well conversant with the tax laws of all the countries.

5. Internal Control Review - We help companies in a healthy review of their current processes. It helps them to improve in areas where they are lacking.

6. Due-diligence & Investigation - Our investigation department is also highly experienced. They evaluate the management team's characteristics, investment philosophy, and terms and conditions prior to committing capital to the fund.

7. Bank Audit - We are also an expert in the banking sector. We serve banks, both national and international, with their annual audits, concurrent audits, stock audits and audits of their branches

8. System Audit - It is also known as Process Audit. It is generally made against a specific document such as operating procedure, work instruction, training manual, etc. Our System Audit allows administrators to review a record of all system activity. It shows the general trends in system usage and also violations of our client's system use policy.

9. Concurrent Audit - Usually concurrent audit is adopted by big institutions like banks, State Level and Apex Bodies, District Co-operatives Central Banks, Central Stores, Sugar Mills, Spinning Mills etc., having huge volume of business and large daily transactions. Concurrent Audit helps in monitoring compliance in respect of all the internal control guidelines. In addition to it, reconciliation of accounts is done regularly.

10. Cost Audit - Cost audit is the independent audit of cost records maintained by companies. The concept of cost audit was introduced in 1965 when Companies Act, 1956 was amended to incorporate the provisions relating to the maintenance of cost accounting records and cost audit. Our taxation advisory team is highly knowledgeable and well conversant with the rules & regulations, and laws relating to cost auditing of our country.

 

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