1. Statutory Audit:
Audit is not an engagement. Audit is not an exercise. Audit is not drafting & churning out audit reports.
Audit is PASSION.
We are Passionate for Audits, We love Audits, We breathe Audits, We Live Audits.
Our approach to Auditing & Assurance is quite simple actually. Understand the business deeply; and when we say deeply, we mean it – as if we were to run the business. Only after we have understood the business, how processes work, how transactions flow in accounting, mapping the accounting transactions with underlying document trail over the actual functioning of the company, and then making a wholistic understanding of the books of accounts.
Embark on a journey of financial transparency and reliability with Pipara. Our statutory audit services combine the wisdom of over 40 years of experience with modern technology, ensuring precision, compliance, and valuable insights for your organization.
Led by qualified & experienced accountants (CAs) and supported by audit enthusiasts, our audit team employs Computer-Assisted Audit Techniques (CAATs) derived from decades of experience. Our approach adapts to diverse environments, from multi-geographic entities to multi-company groups, spanning sectors like Manufacturing, Trade, Overseas Trades, Power Companies, Shipping Companies, Oil Exploration, Pharma, Chemicals, Automobiles, Educational Institutes, Hospitality Industry, FMCG, and Retail Chains. We have been blessed with a diverse clientele, that has helped us understand most industries, their niches, their specialized aspects, which help delivering qualitative audits.
a) Private Limited Companies & Closely Held Entities
Understanding the environment of business in which Private & Closely Held entities work, the objectives of operations, setup method & style and hierarchies involved, we provide exceptional value addition to business units while conducting the auditing & assurance activities with a focus to identify design & reporting gaps in the organization and provide schemas that adapt to the said structures thereby maximizing the underlying objectives.
b) Public Companies
Having worked with some of the largest publicly traded companies in India, we have a robust system of assurance activities equipped with team & analytics to undertake the assurance functions of some of the most complex business units wherein we maintain utmost confidentiality of data and use international audit & practice management softwares.
c) Trust, NGOs & Charitable Institutions
Charitable Trusts & Public Trusts operate with a specific objective and agenda. While assurance is carried out within the framework of the applicable laws, our audit procedures also cover the aspect of the trust being put into action. We are working with International NGOs, Projects funded by International Government in alliance with NGOs in India as well as standalone entities in India having domestic & foreign grants.
We have worked on specific grant audits also wherein verification of budgeted & actual expenditures along with adherence to the objectives of grant are covered under the assurance assignment.
d) Banks
Banking forms the spine of the financial system of any country. Banks play a very important part in the same. We are working with Banks, Financial Institutions & NBFCs in the field of Payment Systems Assurance, Forensic Audits & Investigations, RBI Compliance Audits, Concurrent Audits, Branch Audits, Statutory Audits, Customer Experience Audits etc.
Recently the firm has been empaneled as an Agency for Specialized Monitoring (ASM) wherein the firm has undertaken key critical accounts and has been delivering effective results to the lenders.
e) Government companies
A number of Government bodies and organizations undergo Audit. A lot of these are audits are done to ascertain the justifiable utilization of the welfare funds spent by Government Agencies (Proprietary Aspect of Audit). These audits are conducted at a vast expanse of a diversified geography and the same requires an extensive knowledge of the Government schemes and functioning for which the Firm has immense experience spread over 36 years with specialized teams in place that is updated with the latest accounting norms issued by the Government / Ministry from time to time. It is the responsibility of the Auditor in this case to conduct the assignment with utmost transparency and accuracy.
At Pipara, we have developed a deep understanding of the work to be done over our years of experience with similar assignments. We have successfully completed a number of such assignments have accomplished them with reliable results.
f) Hospitals & Educational Institutions:
We are currently working with some of the most reputed educational institutions & hospitals in the country and have helped such entities reconcile records, create MIS Systems such that help the board gain insight into critical parameters & ratios remotely thereby granting them absolute hand-on experience with the routine functioning, finances & systems. Through the Firms experience with various institutions, we have developed a tool for the Board to have hands-on control over the payroll management, attendance recording & processing of payments thereof (specially keeping in mind visiting doctors and specialists)
2. HR Audit
HR Audit is a key to any organizations maintenance of standardized operations as well as its growth trajectory. Pipara & Co LLP utilizes key tools to deliver effective & measurable results while undertaking a HR Audit.
3. Forensic Audit
Forensic Audits entail an art of deriving at measurable results with conclusive evidences. Through our experience of more than 30 years specializing in the field of Forensic Audits, the firms Conclusive Forensic Audit Reports have been instrumental to more than 150 cases in the Court of Law besides innumerable out of court settlements.
Pipara & Co LLP is a premier Forensic Audit & Investigation in India, being on board with the most reputed regulators in India apart from numerous banks, Economic Offence Wing and other Investigative Agencies.
The Firm is well reputed with an unblemished track record and has been the trusted professional for MNCs, Large Corporates, Family Organizations and various other entities. The Firm is capable of handling assignments of multi geographic, multi platform organizations that have turnover of upto INR 1 lac crores, which have been successfully delivered in the past.
Pipara & Co LLP’s Forensic, Litigation and Valuation Services (“FLVS”) Group provides forensic accounting, valuation services, economic damages calculations and expert testimony in complex disputes.
Using state of the art analytical tools, experienced eyes & an energized team that is unstoppable, FLVS clients benefit from several distinctive Pipara & Co LLPs approaches.
The business environment of today (and tomorrow) requires a new focus on compliance and operations. Internal audit departments are now expected to oversee the company’s risk management, corporate governance and business improvement processes. With limited resources and increasing risks, management is understandably concerned about how to meet all of these pressing needs.
Pipara & Co LLP’s Process, Risk and Technology Solutions professionals work with small, middle-market and large companies to serve as or supplement their existing internal audit staff.
4. Stock Audit
Stock Audits involving specialized skill set or where the business entity entails a complex structure, Pipara & Co LLPs team is the best fit.
Having immense experience within the firm and with enrolled subject experts, no task is unachievable for the firm
Pipara has designed a unique system of conducting stock audits and has specialized team to deliver the accurate results as per specific requirements of the clients
5. Internal Audit
Our internal audit engagements are focused towards unearthing and detecting Systematic and repeated failures or systematic and recurring lapses.
Routine and regular doesn’t excite us; we crave engagements where we can view internal audit processes in an out-of-the-box and unique manner. Instead of a mere checklist exercise, we immerse ourselves deeply in the organization, gaining an insider’s view of its structure, functioning, and operations. This unconventional approach defines how we tackle internal audit engagements.
Our experienced internal audit team doesn’t just skim the surface; we delve deep into your organization’s intricacies, scrutinizing processes, and operations with a fresh perspective. Rather than a checklist mentality, we identify and mitigate risks proactively, providing insights that go beyond standard audit procedures and contribute to robust risk management.
At Pipara, we redefine the landscape of Internal Audit services by injecting dynamism and innovation into every internal audit engagement. As seasoned professionals, we go beyond routine and checklist exercises, seeking out opportunities to immerse ourselves in your organization’s structure, functioning, and operations. Our commitment is to deliver unparalleled assurance services and quality work, all while adhering to the right timelines.
Quality isn’t a checkbox; it’s our ethos. Our auditors bring a wealth of industry knowledge and technical expertise to each engagement, ensuring accuracy, reliability, and adherence to the highest standards.
6. Listed Corporate Audits
Pipara helps elevate the standard of financial integrity for listed company with our specialized auditing & assurance services. As experienced auditors, we bring a commitment to providing unparalleled assurance and quality work, delivered with precision and efficiency—all within the right timeline.
We recognize the unique aspect of auditing listed companies and the crucial role it plays in maintaining stakeholder & market confidence and vice versa. Our approach is rooted in a combination of extensive expertise, rigorous attention to detail, and a dedication to adhering to the highest industry standards.
Our experienced audit team conducts thorough and comprehensive financial audits, ensuring that all aspects of your listed company’s financial statements are examined with meticulous detail.
Beyond the numbers, our audit services provide assurance to stakeholders and regulatory bodies. We are committed to ensuring that your company’s financial statements comply with the relevant accounting standards and regulatory requirements.
At Pipara, our Listed Companies Audit services are a testament to our commitment to financial transparency and integrity. Trust us to be your partners in navigating the complexities of auditing for listed companies, providing assurance and quality work within the right timeline.
7. Internal Control Testing (ICFR)
Internal Control Testing, often thought of as more of a compliance, less of a function.
We recognize the critical role of internal controls in safeguarding the organization against risks. These risks change from organization to organization, for example, the designed processes of procurement, consumption & doctor visit invoicing are more critical for a hospital, whereas hiring, handover & review of people & people oriented processes, are quite critical for a service organization such as IT Companies, Banks, Research wings of Pharma companies.
Like our audits, our approach is grounded in a thorough understanding of business processes, a commitment to precision, and the expertise needed to conduct comprehensive ICFR assessments.
Fortify your organization’s operational foundation with our specialized Internal Control Testing (ICFR) services at Pipara. As experienced professionals, our team conducts rigorous testing of organization’s internal controls, scrutinizing processes and systems to ensure they align with industry best practices and regulatory requirements. But it doesn’t stop there, if the processes aren’t functioning as intended, or aren’t effective for the purpose that they have been put in place, we work with the functional heads, on the ground, with the department, to get processes effective. By doing so, we not only understand the difference between a theoretical change vs a practical change, since in theory there may be things that may look like the right change, but these proposed changes may be impracticable at the ground level.
Beyond testing, our ICFR services provide assurance to stakeholders that the internal controls are robust and effective. We are dedicated to ensuring compliance with relevant standards, enhancing the overall governance structure.
At Pipara, our Internal Control Testing (ICFR) services are designed to be a catalyst for organizational resilience and transparency. Our ICFR services contribute to transparent governance, fostering trust among stakeholders, investors, and regulatory bodies in your organization’s ability to manage risks effectively.