Audit & Assurance

“True & Fair” Financial Statements would lead, always a success to any business or ventures and we make sure that at BizLiz Consulting Audited Financial statements are as transparent as “MIRROR”.

Audit & Assurance is the one of the added services we practice in conjunction with our partners with a team of professionally qualified and licensed Auditors, Accountants, Supervisors, Quality Controllers, are regulated to provide the public accounting and certification services for the Audit of financial statements. This practice is part and parcel of our life as we are under the ‘Charter’ of respective institutes to ACT & DELIVER ethically and professionally.

Statutory Audit:

Year end certification and opinion on the overall financial statements of an entity in order to ensure that the Financial Statements are;

Internal Audits:

We are internal Audit specialists, most entities would like to conduct an independent internal audit by a third party (professional firm) rather than in-house internal auditors.

Internal Audit, unlike Statutory Audits are not the certification or year end audits, therefore detailed and comprehensive Audit checks, principally based on the idea to provide assessment of adequate internal control procedures and following of correct accounting principles and policies, are the very basis of this tool. We go deep in to the procedures and test the effectiveness, suggest new procedures and make an internal assessment of the threats to the organization from frauds and such risk besides assessing the losses which otherwise are not apparent.

Concurrent Audit:

Round the year Audit is one such special services which you can get from “BizLiz Consulting”. Concurrent Audit is basically aimed to conduct the Audit as it goes with routine transaction or say “online” or better to call on the spot Audit as a continuing practice.

Concurrent Audit in most cases is 100% checking of all transactions contrary to the test check methodology adopted while performing statutory audit which is usually after the close of the year. Thus concurrent Audit mitigates the continuing of mistakes, Errors and frauds as this could be spotted while doing the transaction audit online.

For Banks, Institutions, Stock Brokers, Money Exchanges, these Audits are performed, in general, however many large and multi-locational clients these are proformed in contrary to year end exercise.

Similarly most publicly traded and listed companies fall within this category of audit as a regulatory measure.

Investigating Audits (Fact Finding Audits) FFA:

Fact finding Mission is the core of investigating Audits, and we have specialized team who can provide these services to clients who are proven to such risk.

The investigation Audits are performed/conducted which at times are aimed for the specific area, while many time these audits are conducted for the entire organization for the full year or series of years. We will provide you with the facts right from the bottom, in such investigation audits or specific fact finding mission.

Inventory (Stock) Audit:

As the name suggests the Stock Audit is an Audit of Inventory wherein the Auditors have to conduct a thorough search and Audit on the contents of inventory as to its age, suitability, movement, purchase price, market price, and direct and indirect cost allocation besides the fair valuation.

The inventory audits are mainly conducted for the banks and financial institutions who have lended to their corporate clients against the security of stocks. These audits are thus for all independent third party evaluation as to the physical availability, correct value as also to technically verify that the item placed to the bank or to the lenders are marketable and not obsolete and slow moving.

These audits while also form part of the due diligence process normally in the merger and acquisitions exercise will many a time an independent third party assessment by the corporate clients and the listed companies.

Debtors (Receivable) Audit:

On the similar lines of Inventory Audit these audits are also conducted which is an independent process of verification as to the genuinity of these receivables besides the quality of these receivable in terms of their recovery, issues related to discounts etc, besides the inter party or inter company transfer and sales and the recovery of such inter company transactions more so the trend of recovery of such receivables.

We provide Outsourced Accounting Solution & Services:

Besides providing the Audit & Assurance Services at “BizLiz Consulting” we have an independent business process outsourcing wing providing accounting solution and services to many of the small and medium sector companies and firms, who don’t have qualified accountants, but their transaction and services are complex and require the development, compilation of books of accounts based on international standards and accounting procedures etc.