Audit and Assurance

In today's business environment, audits are often seen as mere compliance checks or routine exercises for many organizations. However, at JMK & Associates, we take a distinctive approach to auditing and assurance. Our services are designed not just to meet regulatory requirements, but to actively evaluate and enhance the financial operations of businesses. Rather than focusing solely on number crunching, we aim to provide a comprehensive understanding of your business's financial health, processes, and operational efficiency. By deeply engaging with the inner workings of your organization, we help develop refined financial reports, improve record-keeping accuracy, and identify operational gaps that need addressing. This strategic approach ultimately fosters better financial planning, driving operational efficiency and effectiveness over time.

We offer a range of audit services tailored to the specific objectives and scope of your organization's needs. Here are some of the primary audit types we conduct:

A Statutory Audit is a legally mandated examination of a company's financial records to ensure accuracy, transparency, and compliance with statutory requirements. This audit verifies the fairness of financial statements, including balance sheets and profit and loss accounts, ensuring that they reflect the true financial position of the business. Statutory audits provide essential assurance to stakeholders about the credibility of the company's financial reporting and adherence to regulatory standards, reinforcing trust and transparency within the business ecosystem.

Internal Audit are systematic evaluations of an organization's operations, controls, and financial procedures conducted. These audits are crucial for assessing operational efficiency and identifying potential risks. Our internal audit services focus on ensuring compliance with internal policies, uncovering any weaknesses in operational procedures, and recommending improvements to enhance overall efficiency. This proactive approach helps businesses optimize their governance, internal controls, and overall performance, supporting the achievement of strategic objectives.

A Tax Audit involves a comprehensive review of a taxpayer's financial records to verify compliance with tax laws and regulations. This audit ensures that income, deductions, and credits are accurately reported in tax returns. We conduct tax audits to identify discrepancies, assess tax liability, and ensure that all relevant financial data is properly documented, reducing the risk of penalties or legal complications for our clients. Our expert team ensures that your business remains compliant with all tax regulations, promoting financial integrity and accountability.

The Goods and Services Tax (GST) Audit is a detailed examination of a taxpayer's GST returns and associated records to verify compliance with GST laws. This audit ensures that GST calculations, input tax credits, and other tax-related filings are accurate and properly documented. By conducting a GST audit, we help businesses maintain transparency in their tax reporting, reduce the risk of inaccuracies, and ensure that businesses are in full compliance with the latest tax regulations. Our team helps clients manage their GST obligations effectively, providing valuable insights into tax optimization opportunities.

Cost Audit are focused on examining a company's cost accounting records and practices to ensure accuracy and compliance with cost accounting standards. This audit evaluates cost structures, cost allocation methods, and the overall effectiveness of cost management practices. Conducted to enhance cost transparency and operational efficiency, cost audits provide businesses with valuable insights into optimizing their cost structure and improving financial decision-making. With a thorough cost audit, organizations can identify areas for cost reduction, maximize profit margins, and streamline operations.

A Stock Audit involves a detailed inspection of physical inventory to verify the accuracy and completeness of stock records. The goal of a stock audit is to reconcile the physical stock with book records, identifying any discrepancies such as shortages, overages, or inaccuracies. Stock audits are essential for businesses to maintain inventory integrity, prevent fraud, and enhance operational efficiency. By ensuring that inventory records are accurate, companies can optimize their stock management practices, reduce wastage, and improve overall supply chain operations.

A Tax Deducted at Source (TDS) Audit reviews the accuracy and compliance of TDS deductions and remittances made by businesses. This audit ensures that TDS has been correctly deducted at applicable rates and deposited with the tax authorities in a timely manner. Our TDS audit services help businesses ensure compliance with TDS provisions, mitigate the risks of penalties for incorrect deductions, and maintain financial transparency. With our expert guidance, businesses can navigate TDS regulations with confidence and minimize the risk of tax-related issues.

A Management Audit assesses the effectiveness of an organization's management practices, processes, and strategies. This type of audit evaluates management decision-making, resource allocation, leadership effectiveness, and overall organizational performance. By conducting a management audit, businesses gain valuable insights into areas where improvements can be made, whether in leadership, strategy execution, or resource management. The goal of a management audit is to optimize operations, enhance strategic alignment, and foster sustainable growth through improved management practices.

At JMK & Associates, we differentiate ourselves by offering a thorough and systematic approach to audit and assurance services. Our team conducts meticulous examinations of financial records, transactions, and internal controls to ensure accuracy and full compliance with regulatory standards. We don't just stop at compliance—we aim to deliver insights that drive business improvement.

Our commitment to compliance and regulatory adherence means that every audit we conduct is in strict accordance with applicable accounting standards and legal requirements. We guarantee that your financial statements reflect the true and fair position of your organization, offering peace of mind to both internal and external stakeholders.

With expertise and experience in auditing, our team brings in-depth knowledge across various industries to each engagement. Our auditors, financial experts, and consultants provide actionable insights that can significantly improve your financial controls, operational efficiencies, and decision-making processes.

Partner with JMK & Associates for trusted audit and assurance services that not only deliver compliance but also add value to your business. We are dedicated to excellence in every audit we conduct, helping businesses navigate complex financial landscapes with confidence, integrity, and strategic insight. Let us be your trusted partner in achieving financial transparency, operational efficiency, and sustained business growth.