Financial audit in India

Engaging in a financial audit in India is essential to the financial health of both local firms and foreign-
owned businesses operating in the country. Accounting standards differ from those set by IFRS and
USGAAP. Because of these differences in standards and regulations, foreign companies often encounter
difficulties in dealing with financial audit standards in the country.

Associate is comprised of accounting experts – Certified Public Accountants (CPA) and United States
Certified Public Accountants (USCPA) – who are experienced in performing financial audits for foreign
companies. Furthermore, we are affiliated with KS International, an accounting firm based in the U.K.
since 1914.

This partnership provides us with the necessary resources and knowledge of IFRS and other
international audit standards. In addition, our rates are flexible, depending on transaction amounts and
scale of the company. Hence, our fees are lower than those of other accounting firms for audit
operations and other services necessary when opening a business in India.

Our services include:

• Actuarial Valuation for audit purposes

• Preparation of Projected Financials Statement
• Internal Financial Control
• Physical inventory Verification
• Tax Audit
• Internal Audit

Our Audit strategy

Statutory Audits

Our statutory audit services in India are performed in accordance with India standards. Our
professionals can fulfill the role of a statutory auditor in India for companies whose headquarters are
based in other countries. In addition to our experience, our strength also lies in the proximity we
nurture with our customers. Large audit firms tend not to visit their clients directly, especially if they are
small companies. As a result, poor judgments and uninformed decisions are often taken, creating issues
later on. Associate staffs pay frequent visits to their customers, thus ensuring the full understanding of
our clients. Coupled with our experience, this proximity is what allows us to be highly successful in
providing our customers with the appropriate audit services and other functions to support your
organization’s statutory auditor in India.

Voluntary Audits

It is crucial for businesses – especially newly formed companies – to ensure that their financial records
are up-to-date and accurate. The correctness of financial statements can be measured by undergoing a
voluntary audit in India, which associate can perform on-demand.

When offering our voluntary audit services, we strive to provide a comprehensive service to our
customers. Our experience and understanding of newly-established businesses are our main assets,
allowing us to deliver rigorous and thorough reports.

Financial audits using IFRS and U.S. GAAP

Associate financial statements based on International Standards on Auditing – GAAP (Generally

Accepted Auditing Principles), USGAAP (United States Generally Accepted Auditing Principles), and IFRS
(International Financial Reporting Standards). Our staff possesses a high level of expertise in Financial
Advisory, and excels at reporting financial statements to provide formal records of financial activities of
businesses, individuals, or other entities.

In addition, our experience in partnering with global accounting companies provides us with enough
experience to independently excel at offering services to international customers in India. This includes
generating financial statements and giving advice and guidance with regard to present and future
operations to global companies. Associate provides its customers with a thorough financial audit in
India, on which they can rely. As a result of our high standards of professionalism and expertise, users of
financial statements such as stockholders or shareholders can increase their confidence and trust in our
customers.

As more companies’ subsidiaries are established over the world, financial reports to corporate parents
in different countries become increasingly complex. Financial reports may be requested from us in
English or in other languages, as our bilingual staff is able to report in either language. Associate, as one
of the truly global accounting firms, promises to conduct your firm’s financial audit in India with
international quality standards, and pledges to bring knowledge and expertise to its customers,
regardless of company size.

Contact us today to learn more about our full range of services.