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| Business
Scenario : |
Globalization
of the Indian corporate world has been a key driver
in harmonization of accounting practices and financial
disclosure norms. Shareholding pattern in Indian corporates
is fast changing its form to mutual funds, strategic
investors, private equity investors and FII’s,
demanding transparent financial statements, as a result,
corporate governance is taking deep roots in the Indian
corporate sector. |
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Given
the Corporate Governance Regulations and the related
statutory pronouncements such as Sarbanes Oxley Act,
Naresh Chandra Committee recommendations, the role of
an auditor has substantially changed. The role of an
Audit Committee (ACB) has become more comprehensive
and diversified. There has been a complete re-orientation
in the form and content of financial statements disclosure
in light of the above drivers of change and the recent
pronouncements of the Institute of Chartered Accountants
of India. To put in brief, the challenges before the
Indian Corporates would be: |
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Business
being conducted in a New Environment (Privatization, empowerment,
move to strategic thinking and change management ) |
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Survival in current scenario
of Globalization & Liberalization |
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Compliance with Corporate
Governance and Transparency |
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Maintenance of High Credit
Ratings |
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Safeguarding of Assets,
Information & Shareholder interest |
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Balancing between growth
& control |
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Auditing processes being
merged into Management processes |
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Continuous Assurance: On
demand Audit Reports |
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| Division
Overview : |
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The Division has rich assurance expertise across industry verticals such as BFSI, Infrastructure including power, construction, Healthcare & Pharma, Mutual Funds etc. The Division serves top industry houses and banks in the country; public and private enterprises; domestic and foreign businesses; Not for profit enterprises and more. |
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The Audit & Assurance division of SBC provides assurance related services across various industry sectors over the past five decades. The service engagements include performing of audits of financial statements of corporates, banks, financial institutions etc. The nature of audit services includes statutory audits, tax audits, compliance audits and special investigation audits. |
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Assurance services begin with expressing an opinion on our client’s financial statements, but go far beyond. We also help our clients achieve business objectives; strengthen corporate governance and internal controls. |
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Audits are conducted using generally accepted auditing standards and the globally accepted audit practices. Being a part of MRI, one of the eight largest accounting groups has enabled the Assurance practice group to access the Global Audit Manual and the international accounting and audit guidelines.
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The
Audit & Assurance team comprises of experienced
and qualified members, majority being either an associate
or a fellow member of the Institute of Chartered Accountants
of India as well as Certified Public Accountants. The
team is continuously monitored and updated with the
audit skills and tools to ensure committed deliverables
and compliances.
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