While doing any business, the most important thing that we keep in our mind is finance. All the transactions of business are logged into the financial statement for future reference. Keeping this record is in itself a challenging job. It doesn’t matter if you are a sole proprietor or working jointly with your partner in a business. There is always a need for a CA called the chartered accountant who will free you from the tension of financial legalities.
All the big, medium or small enterprises have a chartered accountant for itself that assist them, advise them on their accounts and provide them with trustworthy information about financial records. The job of a chartered accountant is to keep a close eye on the finance in a company for which he has to perform regular auditing jobs. The report based on this auditing tells the exact value of the financial status of the company.
There is another form of auditing called the statutory auditing that comes under the external audit process. The person who performs this is externally appointed by the higher officials like the shareholders of the company to check the financial accounts to make sure everything is fine. Statutory auditors in Pune provide with such ideal candidates for these jobs. For the external auditing, people who are selected are generally the ones with high professional scepticism that makes them trustworthy for this job. Otherwise, the idea of the external auditing would not work. For this purpose, one should look for auditing firm as:
- The auditing firms have vast experience and knowledge because of qualified professionals working with them. Therefore, they can give practical solutions to their clients.
- Their work experience and the reviews of their clients make them a trustworthy personality that is also one of the factors that bring the clients for them. Their clients are from domestic and international business world independent of the business sectors they are working as information technology, manufacturing, entertainment, travel and tourism. After all, there is a requirement of a CA if there is finance involved in it.
- Another benefit of going to a firm is that you don’t have to look for or a CA every time you need to get auditing job done because the firms are like a Mall where you will get all your stuff done from auditing, taxation, secretarial services or anything of that sort.
- Auditing firms keep updating themselves with the changes in government laws. Like it happened in the case of GST [Goods and Services Tax] that was brought down by the government recently and which has changed the entire process of tax collection. Therefore, CA had to update himself. Due to his ability, he quickly adapted himself to the new situation. Hence nowadays, CA conduct GST audit under the GST Act. The GST Act is the change government that has enshrined in the taxation system.
Auditing is not a simple job but can be made simple by understanding the business environment. Understanding of the ground on which the business relies helps in advising and assisting the company with the solution that will ultimately increase the outcome for the organization.