Compliance Audit

    Khandhar Mehta and Shah
    compliance audit

    Change is the only constant.

    The regulatory compliances keep changing very frequently. It sometimes gets difficult for companies to keep track of them. When an organization fails to do that, there could be some serious consequences, even leading to heavy penalties and fines. KMS provides compliance audit services in Ahmedabad to help companies remain compliant with various regulatory requirements.

    What is a compliance  audit

    Compliance auditing is an independent evaluation of an organization to ensure that it is following rules, regulations, and external laws or internal guidelines, controls, and policies and procedures. It also determines whether or not the company is conforming to an agreement. The agreement could be related to some funding by a government or other entity, grants etc. It is in the interest of the companies to carry out compliance auditing regularly to avoid future problems.

    This audit also reviews compliance with HR, IT and security issues, quality management, etc. Depending upon the type of organization, different approaches are made. For example, if you are a financial institution, then compliance regarding personal data, disaster recovery, or information recovery is reviewed. If you want to have a compliance audit for medical facilities, then compliance requirements may need information regarding IT infrastructure, software applications, privacy, data storage, and protection.

    What is the purpose of a compliance audit…

    Compliance audit services gauge how an organization adheres to the rules and regulations, policies and procedures, and the internal code of conduct. The purpose of a compliance audit is to ensure that the entity is fully compliant with the regulatory requirements. It assures the management and stakeholders that the company is complying with all the applicable laws.

    Our dedicated and professional team of experts compromises of CAs with decades of experience, and professionals who are experts in different laws. They keep updated with changing compliance requirements and help you stay updated as well.
    Benefits of compliance audit

    Compliance audit helps in complying with all the rules and regulations applicable to the company including, direct tax, indirect tax, companies act, FEMA, PF, ESIC, Gratuity, Bonus, STPI, Environmental laws, shop, and establishment, etc.

    It ensures efficient record management when it comes to vouchers, returns, forms, challans, and supporting documents forming part of the legal documentation.

    It ensures the accuracy and completeness of the legal documentation.

    It streamlines the overall compliance management process by providing necessary procedures and guidelines.

    Khandhar Mehta and Shah
    for a journey beyond excellence.
    knowledge. Experience.  Teamwork.

    As a CA firm in Ahmedabad, we always focus on giving our clients the best in class services that reflect our values and vision of transparency, flawless, and professional work. Check out our website to understand and know more about our services and firm.

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    compliance audit procedures

    At KMS, our procedure of compliance auditing includes five simple steps which are:

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    Scope of compliance auditing

    Reviewing the applicability and documentation of applicable compliances as per the nature of the business

    Verifying the claims, utilization, and return of taxes applicable under various statutes and laws

    Suggesting and helping companies to implement various methods to improve the compliance management system

    why kms?

    If you are looking for a professional compliance auditing experience, then you must know that it requires a robust digital environment and mechanism for the examination of accounts and records to ensure complete compliance with the latest rules, regulations, laws, plans, and policies.
    At KMS, we offer your precise and infallible compliance auditing service carried out by our experienced and professional CAs and legal experts while ticking all the checkboxes of audit checkpoints and other rules. We also stand behind you as a trusted partner who follows statutory compliances. Choose us if you are looking for perfection and want the best compliance audit services in Ahmedabad.

    our clients say

    trust.  transparency.  professional expertise.

    “They have a very personal approach, and they were very patient with us to understand our requirements and made sure they came up with solutions that worked wonderfully for us. It was probably our best decision to choose KMS for compliance auditing. "
    Partner, Staffing firm
    "Their auditors worked with utmost diligence and provided suggestions that helped us greatly in ensuring compliance with various statues. They are professional, attentive, responsive, and courteous towards their work and their clients. Their decades of experience have made them understood our industry, and each of their meetings and suggestion is very valuable to us. They work with integrity and total commitment, which is why they serve top-quality compliance audit service in Ahmedabad.”
    CEO, Pharmaceutical Company
    “We had several issues in coping up with the everchanging regulatory requirements. As a new entrant in business, our knowledge of compliances was limited, and we were also going through a resource crunch situation. KMS made us know about all the regulations that we were required to follow and assisted us in drafting SOPs and action items with deadlines.

    They also helped us in filing required forms and returns as and when required. Their legal experts are second to none, and they have a thorough knowledge of applicable rules and regulations. Perhaps this is the reason why they are the best compliance auditors in Ahmedabad and have a fantastic client base with them. We would surely continue our professional relationship with them in the future as well.”
    Director, hospitality chain

    frequently asked questions(faqs)

    The three types of audit tests are risk assessment tests, tests of controls, substantive procedures.
    No compliance audit is not compulsory, but it is done to add value to the company, ensure compliance with legal requirements, and improve efficiency.