Assurance

Auditing is a highly complex process; and the importance of auditors as a vital link in the financial reporting chain and their role as trusted advisors has increased manifold in the present era.  We at C&S, understand that to deliver quality audit and assurance services, we must look beyond the traditional ways and understand stakeholders concerns relating to performance, privacy, risk, controls and data analysis. Our experience with leaders in various industry verticals enhances the confidence of various stakeholders. Our audit begins with understanding client’s area of operation and identifying major risk areas. We work closely with client to comply with Accounting Standards, Standards on Auditing and other applicable provisions of the law.

In delivering these services, we adhere to the highest standards of independence, professional objectivity and technical excellence.

Our audit procedures and policies have been subjected to external reviews by Quality Control Board of ICAI, Peer Review, Public Companies Accounting Oversight Board of United States and Nexia International, our international network parter.

Quality Control System at Chaturvedi & Shah

We have a very strong quality assurance system in place , the policies adopted in this respect include involvement of an additional partner as advisory partner in every major audits , dedicated team for specified sector , specialized training courses , engagement quality assurance review programs and a formalized consultative framework.  We bring to every aspect of our service the highest levels of commitment, professionalism, energy and enthusiasm.

1-element

Client acceptance and continuance

To ensure that we do not incur unacceptable risks, we have rigorous client acceptance and continuance procedures, which require review by a special quality control group.
2-element

Commitment in training and specialisation

Our extensive curriculum covers ethics, independence, core and advanced technical matters, and a variety of business advisory and management programmes.
3-element

Internal Practice reviews

To help maintain a high level of consistency, partners and senior managers periodically review the quality control standards and audit work of colleagues at other offices.
4-element

Engagement quality control reviews

A Core Team who is not directly associated with the engagement but who has knowledge about the client’s industry, reviews financial statements, deliverables we issue and selected work papers; These Team then consults on any technical accounting issues or significant audit judgements.