Services

Statutory Audit Services

In simple terms, statutory audit in India is equated with Audit under the Companies Act. Every company incorporated under the Companies Act is required to get its accounts audited by a Chartered Accountant in Practice to ensure true and fair view of the accounts. Further, the auditor has to ensure compliance with various provisions of the Companies Act. Statutory Audit ensures reliability of annual accounts of the company for various stakeholders of the Company like government, shareholders, debtors, creditors, bankers etc.

The complexity of Statutory Audit Function has increased manifold during recent times. Globalization, fast changing business and statutory environment combined with the need for synchronization with various global accounting standards and ever-increasing reliance on audited accounts by a variety of interested parties has put enormous responsibility on the shoulders of any statutory auditor.

Our statutory audit team consists of ever improving set of skilled individuals trained extensively for conducting auditing function. Our auditing team is trained and updated on the ever-changing compliance requirements to stay ahead of the curve.

Our statutory audit department is geared to conduct audit under any applicable statute along with complying with various global standards to ensure useability of audited accounts for most of the interested parties like financial institutions, shareholders, directors, investors, government, bank and general public at large.

Internal Audit Services

Internal Audit is an independent management function involving:

Continuous & critical appraisal of functioning of an entity
Suggesting improvements & adding value to the entity
Strengthening overall governance mechanism of the entity, incl. strategic risk management & internal control system.

Our emphasis is on ensuring strong internal control systems to minimize the risk of accidental or deliberate errors and omissions. Safeguarding of assets, adequate division of authority over key control areas and compliance with internal operating policies and guidelines are other focus areas of our procedures.

Taxation

Domestic & International Taxation & Tax Planning
Withholding Taxation – Tax Deducted at Source (TDS)
Transfer Pricing Studies & Certification
Tax Representations & Appeals
Application of PAN, TAN etc.,

Tax planning & Returns
This service involves helping the clients submit/file necessary periodic returns of Income Tax, Goods & Service Tax and other returns. It also includes helping the clients make sound investment decisions and help them avail various rebates and deductions.

Company Formation and Corporate Law Advisory Services:

We strongly believe that an organization can grow and stands out from the others not only by way of attaining operational excellence but also by prompt compliance with the applicable laws. Our expert team helps clients to comply with the timelines of the Corporate Laws and other applicable economic laws including Foreign Exchange Management Act.

We believe that a business establishment which is in due compliance with the various provisions of law and is up to date on its records and filings, ups the chances of investment and thereby act as a catalyst for the growth of the organization.

Start-ups & SMEs, though understand the importance of a Company Secretary, may have second thoughts on having an in-house company secretary on a full-time basis or may in addition to a having one want services of a Company Secretary in Practice. We support such organizations by acting as an external corporate secretarial team.

We bring on board of such startups and Small & Medium enterprises, the experience over a number of industries and organizations and offer corporate secretarial services ensuring prompt and timely compliance of applicable laws.

Drafting of notices, minutes, reports etc. in respect of Board and General Meetings
Attending and advising on conduct of Board / General Meetings
Maintaining minutes books, statutory registers & records
Preparation and filing of various forms and returns
Verifying and Certifying the forms required to be filed under the Companies Act.

Approvals of Ministries and Quasi-judicial Authorities
Certain matters on account of its complexity, require approvals of the Ministry at various levels and approvals or permissions of quasi-judicial authorities. We advise corporate houses on the requirement of such approvals, consents and permissions and assist in securing the approvals.

We handle

Filing petitions and applications before various quasi-judicial authorities.
Making applications & securing various approvals from the Ministry of Corporate Affairs under various provisions of the Companies Act, 2013.
Representing before the Company Law Board and other agencies.
Securing Compounding of Offences / Condonation of delays under the Corporate Laws.

Goods & Service Tax

We have rich experience in offering Goods & Service Tax consultancy which is vital in the current scenario. Our ranges of services include:

Registration
Filing of returns
Maintenance of Records
Assessment

Accounting & Payroll Outsourcing

In today's scenario of globalization and technology convergence, the process of doing business has been redefined. Outsourcing various processes makes a lot of business sense. Most businesses and large companies are outsourcing their accounting processes for better management of their finances and time.

These services are structured to suit an individual client's needs and requirements. Some of the accounts outsourcing services offered by us are as under:

Book keeping and General Accounting Service
The service involves preparing and maintaining day to day bookkeeping and monthly or quarterly MIS. These books are prepared as per GAAP, accounting standards and can also be made as per specific client instructions.

Preparation of Financial Statements
The service involves preparing a company’s annual accounts and schedules ready for the statutory annual audit.

Payroll
Preparation of the monthly payroll, including all statutory and other relevant deductions.
Relevant deductions as per statutory laws like Income Tax, PF, Professional Tax etc.
Preparation of Forms 16 for Employees.
Filing of Quarterly returns for e-TDS with Income Tax authorities.
Deposit TDS & provide proof of deposit.
Ensure redressal of any issues.
Reconciliation of payments/statutory deductions with books of accounts on quarterly basis.

Cash Forecasting
The service involves analyzing the cash requirements of the business and making cash forecasts for planning the future.

Our team will stand at the vanguard of Ind AS conversion developments providing guidance and assistance by conducting workshops for senior management and operational personnel to create awareness understand business and carryout impact analysis, evaluate alternatives and assist in convergence.

Design and Implementation of MIS

In conceptualization and design of the system, the following services are provided.

Designing to focus on the use of information in planning, management and the improvement of quality and coverage of services.

Training of personnel for efficient use of the system. Information management and use are incorporated into the pre-service training curriculum and the job description of all personnel.

Quarterly feedback, supportive supervision visits and quarterly reviews are institutionalized. A mid-term review of the achievements of the information system is also carried out.

Due Diligence

We assist clients in conducting financial, legal and accounting reviews in case of mergers, acquisitions and investments. A sound understanding of local laws, regulations and accounting practices enables us to vet all critical issues in detail.

Compliance with Indian Accounting Standards (Ind-AS)

Under the Companies Act 2013, certain class of companies are required to follow Ind-AS in preparation of their financial statements starting from FY 2016-17 with comparatives for 2015-16. KGAC undertakes assignments to assist the Company in understanding Ind-AS (by conducting workshops and seminars) preparation of Ind-AS compliant Financial Statements.

Certification and Attest functions

The firm provides a variety of certification and attest functions which consist of issuing of a varied range of certificates like EPCG certification, Outward remittance Certification, Search Report for Corporates, etc.,

Financial Services

We have years of experience in providing business financial services to our clients. Our experts carefully analyze the current situation and accordingly prepare the project reports. Loan arrangement needs are also well taken care by us including cash credit limit, term loan and project loan. We also offer due diligence for finance and valuation of shares.

Preparation of project report, CMA and Bank Application

Arranging and Syndication of loans - Cash Credit Limit, Term loan, Corporate Loan & Project loan

Due diligence for Investments

Valuation of shares