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Audit and Assurance Services

Suresh Surana & Associates (SSA) provides assurance services to its client in India and abroad. Our audit methodology is comparable to audit methodology adopted internationally and our audit procedures are tailored considering the size and nature of business of the Client and to meet the regulatory requirements. Regular training provided to our team on audit methodology and regulatory requirements help us to provide consistent and quality audit services.

Financial statements are ordinarily prepared and presented annually and are used by wide range of users. Many of those users rely on the financial statements as their major source of information because they do not have the power to obtain additional information to meet their specific information needs. Thus financial statements need to be prepared in compliance with the regulatory requirements, Accounting Standards and any other industry specific requirements. The auditor's opinion enhances the credibility of financial statements by providing a high, but not absolute, level of assurance.

Depending on the client and regulatory requirements SSA can provide wide range of services to audit and non-audit clients.

What We Do

  • Audits

    • Audits as per the requirement of the Companies Act, 1956

      The objective of such service is to give opinion on whether the financial statements (standalone / consolidated) give a “True and Fair View” in conformity with the accounting principles generally accepted in India.

    • Audit of IFRS financial statements

      The objective of such service is to give opinion on whether the financial statements give a “True and Fair View” in conformity with the International Financial Reporting Standards.

    • Audits of consolidated / combined financial statements of sight holders of Diamond Trading Company (DTC)

      The objective of such service is to give opinion on whether the financial statements give a “True and Fair View” in conformity with the accounting principles generally accepted in India and to enable the sight holder to meet DTC requirements.

    • Tax audit as per the requirement of the Income Tax Act, 1961

      The objective of such service is to certify particulars furnished in Form No. 3CD to be “True and Correct”. Tax audit is applicable to every person carrying on business if his total sales turnover or gross receipts, in business exceeds Rs 4 million and to person carrying on profession if his gross receipt from profession exceeds Rs. 1 million in the financial year (April – March).

  • IFRS convergence

    • Providing assistance to client

      - in analysis of impact on convergence to IFRS
      - in compilation / quantification of impact on convergence to IFRS
      - in deciding and designing solutions for implementation
      - in training its staff - in preparation of IFRS financial statements
  • Review of financial statements

    The objective of such service is to report whether anything has come to the auditor's attention that causes the auditor to believe that the financial statements are not prepared, in all material respects, in accordance with an identified financial reporting framework.

    While a review involves the application of audit skills and techniques and the gathering of evidence, it does not ordinarily involve an assessment of accounting and internal control systems, tests of records and of responses to inquiries by obtaining corroborating evidence through inspection, observation, confirmation and computation, which are procedures ordinarily performed during an audit.

  • Agreed-upon Procedures

    The objective of such service is to carry out procedure of audit nature as requested by the Client and to report on factual findings. No assurance is provided while performing agreed-upon procedures and the Client must form its own conclusion from the report on factual findings.

  • Compilation of financial information

    The objective of such service is to make available accounting expertise to the Client to collect financial information as opposed to audit or review. Though no assurance is provided, the Client gets the benefit of professional skills and trained man-power available with us.

  • Due-Diligence

    SSA can provide conduct financial, accounting, commercial and legal due diligence for clients. The objective of such service is to facilitate “Merger & Acquisition deals” and “Strategic Alliances”.

  • Valuation of shares / business

    The objective of such service is to provide an Indicative Shares/ Business Valuation report of Target Company (TC) based on generally accepted principles of valuation considering the various inputs and data to be provided by the Client and facilitate “Merger & Acquisition deals” and “Strategic Alliances”.

Advantage SSA:

  • Multi-location presence
  • Established Quality Assurance processes and audit methodology which meet international standards
  • International orientation
  • High level of quality consciousness with cost efficiency
  • Well experienced and skilled professional staff and multi-disciplinary team
  • Well conversant with emerging technologie
  • Excellent infrastructure facilities
  • Exposure to varied industries such as Finance, Manufacturing, Entertainment, Service, Retail etc.
  • Utmost emphasis on confidentiality of clients’ information
  • Commitment to timely delivery
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The site was last updated on: 14 September 2010