Morison Menon

Building Better Businesses-Globally

Audit & Assurance

Audit & Assurance

Auditing is an intricate and multifarious process. The importance of auditors as a key link in the financial reporting chain has always been important and in present globalised business scenario it has become more crucial. At Morison Menon we understand the importance of advances in auditing techniques and through continuous training and learning for our team, we strive to provide the best of our services.

Our
Services

OurServices

Statutory Audit

Our auditors perform statutory audit for private and listed companies and educational institutions. The outcome of statutory audit includes: fair opinion assurance, complete assessment of accounts, compliance with statutory and regulatory requirements,  as well as adherence to accounting standards like IFRS & IGAPP.

Non-statutory Audit

Our auditors perform non-statutory audits for reviewing and verifying an organization’s reports on financial matters. Our audits lends credibility to client’s financial reporting and it is well received by banks and financial institutions that rely on independent auditor’s assessment. Our audit reports also help’s management to be assured about their financial reporting process.

Agreed upon Procedures

The main objective here is to carry out the audit procedures which Morison Menon, client and any third party have agreed and to prepare the report on fact-based findings. It can be done for the following:

  • As part of acquisition due diligence review;
  • Lender- borrower relationship, where the lender wants to have an independent audit and report on the borrower’s financial information;
  • Landlord-tenant relationship where the landlord requires an independent reporting on the turnover reported by the tenant;
  • For any other special purpose.

Financial status review of a company, financial structure advice, risk, assessing operational efficiency of controls, and verifying business processes, are other agreed upon procedures that we perform.

Environmental And Sustainability Reporting

We assess the environmental credentials of clients by assessing their compliance to applicable environmental regulations. Our environmental and sustainability audit reports can help clients minimise or eliminate the negative impact of their operations on the environment and help them achieve the goal of sustainable development.

Audit of Developers as per RERA Regulations

The Audit of Developers as per RERA Regulations (Real Estate Regulatory Agency [RERA] demands that its developers have ESCROW accounts based on each project) helps to assess the efficiency of the various activities of developers.  This also helps to verify if the developer complies with the applicable rules and regulations as required by RERA. Finance-based audit offers to review a list of units cancelled, sold and cash received from buyers, retention of account balance, project construction, management and marketing related payments, advanced payments to contractors and many more.

Audit of Bank Trust/Guarantee Account as per RERA Regulations

Our service of auditing Bank Trust/Guarantee Accounts as per RERA Regulations verifies if the Account Trustee complies with the applicable rules and regulations as per RERA and to assess the key control activities and effectiveness of the control environment of the Account trustee.

Audit of Owner’s Association as per RERA Regulations

Audit of Owner’s Association as per RERA Regulations is conducted on service charges that are applicable to communities and includes maintenance of assets in buildings, assets used by the  community like public roads , street lights etc. We ensure that owner is receiving value for money, and that the expenses are reasonable to satisfy the owner in all respects for the amount he pays. We carry out firm checks on the accounts of owner associations with the community and help present a clear picture of the accounts to make it transparent for owner and user.

Forensic accounting and fraud detection

Forensic tests are performed to recognize, collect and analyze the information on financial matters in order to reconstruct the accounting activities and to retrieve specific documents related to a case. If any errors are found in the documents we work closely with the clients and their legal counsel to reduce organizational loss and to maximize the return on investments. We offer consultancy in areas like fund and assets appropriation, embezzlement, employee theft, insurance fraud, errors in financial records, schemes on investment, securities fraud for various organizations like non-profit and corporate organizations, legal counsel and small businesses.

Attestation Services

Attestation procedures involve providing a report on a specific subject or a declaration about a subject matter which is the responsibility of another party. This party is usually not dependent on the person making the declaration or issuing the report. Attestation can be in the form of certifications, review reports, audits, and compilations, agreed upon procedures, and so on.


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