Audit & Assurance

Tax Audit & Management Audit

Audit & Assurance

In a world shrinking in distance and economically becoming increasingly borderless, the success of the business is pre- dominantly heavily reliant on reliable financial information which promotes confidence and mitigates an array of uncertainties. Credible information needs to be corroborated by the desired level and kind of professional assurance ranging from statutory audit of financial statements to a variety of other forms of assurances and attestations consistent with the varying needs of the users of such information. Traditional audit has thus undergone a quantum and substantive change from auditing the financials to auditing the business.
We provide a wide range of assurance services, with the primary focus on the objective of assurance on the reliability and relevance of financial information and a host of non-financial aspects, data, processes, operations and procedures and on the effectiveness and efficiency of controls.

AUDIT METHODOLOGY

MAZ Consulting’s Audit Methodology enables us to provide effective and efficient delivery of quality assurance services. The significant features of our audit methodology are a sharp focus on business risks specific to a client, a higher degree of emphasis on reliability and tests of controls, analytical review, building and sharing knowledge, skeptical approach, teamwork and Partner – Manager Involvement through all significant phases of an audit.

Our principal audit and assurance services include:
Tax Audit
Management Audit

Tax Audit

Both for direct and indirect taxes, tax authorities occasionally engage external professional assistance to provide assurance on compliance with various aspects of the Income Tax, Sales Tax and other tax statutes. From a comprehensive assurance on the declared operating results of a tax payer to any specific aspect of tax compliance, the scope of engagement varies from case to case depending upon the degree of assurance sought by the tax authority on the reliability of such declarations, taxes withheld and deposited, input-output adjustment for sales tax purposes and such other aspects of compliance.

Management Audit

Also sometimes referred to as propriety audit, performance or operations audit, the assurance sought to be provided ranges widely from one objective-specific to a comprehensive assurance on financial stewardship, fiduciary behavior, propriety of business conduct and other multifarious objectives set by the client. The deliverables emerging from the assignments range from a detailed investigative report to a set of proposed options and business solutions tailor-made to the facts, circumstances and sensitivity of each such audit.

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