Details

HMTS & Associates provides a range of audit and assurance services that assist clients in fulfilling statutory requirements and improving the reliability of financial and non-financial information. The services are carried out in accordance with applicable auditing standards, regulatory guidelines, and professional ethics.

1. Statutory Audit

• Audit of financial statements as per the Companies Act, 2013 or other applicable statutes.

• Examination of books of account and supporting documentation.

• Reporting on the true and fair view of the financial position and performance.

• Compliance with auditing standards issued by ICAI.

2. Tax Audit

• Conduct of audit under Section 44AB of the Income Tax Act, 1961.

• Verification of income, deductions, compliance with tax laws, and reporting through Form 3CA/3CB and Form 3CD.

• Advisory on tax positions and disclosures required under the Act.

3. GST Audit (applicable as per threshold limits and legal requirements)

• Review of GST returns, reconciliation with books of accounts, and tax computations.

• Preparation and certification of reconciliation statements and annual return (Form GSTR-9C).

• Identification of compliance gaps and advisory on corrective measures.

4. Internal Audit

• Evaluation of internal controls, risk management systems, and operating procedures.

• Review of financial and operational processes to ensure compliance and efficiency.

• Reporting of findings with recommendations for improvement.

5. Forensic Audit / Investigation Assignments

• Examination of financial records to identify irregularities or suspected fraud.

• Analysis of transaction patterns, fund flow, and documentation to detect anomalies.

• Preparation of investigation reports for management or regulatory use.

6. Trust Audit

• Audit of charitable and religious trusts as per the Bombay Public Trusts Act or applicable laws.

• Verification of income and expenditure accounts and preparation of audit report for submission to the Charity Commissioner.

7. Stock Audit

• Verification of stock/inventory for banking, funding, or internal control purposes.

• Physical verification and valuation of inventory in line with applicable accounting policies.

8. Due Diligence Review

• Financial and legal due diligence for mergers, acquisitions, and investment decisions.

• Review of key financial metrics, liabilities, and contractual obligations.

• Preparation of due diligence reports for stakeholders.