Our experienced auditing professionals help your business to implement financial controls and internal processes that mitigate fraud risk, ensure compliance, increase profitability, improve operating efficiencies, reduce financial risk and ensure compliance with industry regulations and standards. We constantly strive to raise the bar of expectations of our audit services, to ensure continuous value addition for our clients. Our processes are robust, transparent and technology-driven to provide globally consistent quality, driven by experts.
PRS has considerable experience and expertise in:
Statutory Audit of various corporates
Internal Audit of various corporates
System Audit
Standard Operating Procedures (SOP) Development and Manuals
Ind AS Implementation
Audit of entities like Banks, Trusts and Charitable Institutions
Compliance with Accounting and Auditing Standards, US – GAAP & Indian – GAAP and IFRS
Due Diligence Review
Physical Verification and Reconciliation of Fixed Asset and its management
Other Specific Areas such as those mandated by SEBI / RBI etc.
Other Management Area / Special Audit Area
Limited Review
Internal Financial Control over Financial Reporting
Through our phased approach, based on the PDCA Model (Plan-Do-Check-Act), we ensure that your business is in compliance with the latest provisions of the Company’s Act 2013, on the subject of Internal Financial Controls.
Phase I: Scope and Planning
Phase II: Assess and Define
Phase III: Testing and Remediation of Controls
Phase IV: Conclusion and Reporting
Ind AS
Through our phased approach, we ensure that your financials are Ind AS compliant in accordance with the Company’s Act 2013.
Phase I: Gap Analysis
Phase II: Design and Planning
Phase III: Implementation and Post Implementation Actions
Domestic Taxation
Efficient Tax Planning is a key to success of any business as it helps in reducing cost to the company. Such effective tax planning requires great vision and managerial skills and that is what we deliver and recommend our clients the best possible tax solutions and strategies that help them to survive and stand still in a competitive era.
PRS is having expertise in delivering following services hassle free and speedily:
Advisory Services
Income Tax Return
Tax Audit Report
ICDS-Income Computation Disclosure Standards
Certifying Report u/s 115JB – MAT
Assessment Proceedings
Filing Appeals before CIT (A) and ITAT as well as appearing before them
Conference with Officials / Advocates / Counsels
Handling Search and Raid cases
ICDS (Income Computation and Disclosure Standards)
The intention of ICDS is to compute the income precisely and objectively, and ultimately, to reduce the tax related disputes. We provide unique end-to-end solution for complete implementation of ICDS and ensure that your business is in compliance with the ICDS provisions.
As the name indicates, this stage includes all activities pertaining to implementation, such as, identifying the applicability, effects, and implementation of ICDS in various areas such as accounting policies, valuation of inventories, contracts, revenue recognition, etc.
This stage involves resolution of any practical problems arising due to implementation of ICDS, analysis and reporting of impact of ICDS on various business parameters, and reconciliation of profit as per the books of accounts keeping in mind the provisions of ICDS.
TDS / TCS
Advisory Services
Verification Services
Registration with various authorities and filing of returns as required under the law
Handling of various procedural aspects regarding maintenance and verification of prescribed records
Compliance with TDS/TCS Notices
International Taxation
Advisory Services
Services related to cross-border transactions including tax on foreign payments, procedural compliance and TDS compliance
Compliance with various TDS Notices
Certification in Relation to Foreign Payments and Remittance
Double Taxation Relief
Services related to Domestic and International Transfer Pricing
FEMA related services including obtaining permissions from RBI and all other matters related to inward and outward remittance
Transfer Pricing
Advisory Services
Services Related to Domestic Transfer Pricing Issues
Services Related to International Transfer Pricing
GST (Goods and Services Tax)
Our professionals are specialized in tax strategy, planning, reducing tax burden, projections and implementations. We also have years of experience advising high-net-worth individuals and organizations of all types in making sound financial decisions and availing benefits under various scheme of Foreign Trade Policy (FTP).
PRS with its rich experience delivers following services related to indirect tax matters:
Advisory Services
Registration with various authorities and filing of returns as required under the law
Handling of various procedural aspects regarding maintenance and verification of prescribed records
Other Statutory Compliances
Appeals Before Respective Authorities
Liaisoning with departments including handling of various appeals
Proposed changes towards Goods and Services Tax (GST) – Analysis of a business structure from an indirect tax perspective.
Customs
Registration with various authorities and filing of returns as required under the law
Handling of various procedural aspects regarding maintenance and verification of prescribed records
Advisory Services
Other Statutory Compliance
Assessment Proceedings
Appeals Before Commissioner (Appeals) / CESTAT
Conference Calls with Advocates / Counsels
Management Consultancy
Our experienced chartered accountants would be pleased to assist you in plethora of management related challenges including financial planning and management, working capital management, investments, budgets and budgetary controls, MIS, etc.
Financial Management Planning and Determination of Financial Policy
Capital Structure Planning
Working Capital Management
Analysis of Capital Investment Proposals
Capital Budget, Cash Budgets and Other Budgets, Cash Flow & Fund Flow Statements, Profitability Statements, etc
Development of Accounting System & Budgetary Controls
Development of Management Information System (MIS)
Management and Operational Audit
Advise Regarding Mergers and Acquisitions
Systems Analysis
RBI & FEMA Related Services
Advising on FEMA / RBI related issues
Compliance with Annual forms of RBI
Preparation of NBFC Application & Registration with RBI
Assisting in Compliance Relating to Change of Control with RBI
Certification Related to NBFC as per RBI Requirements
Development of Accounting System & Budgetary Controls
Certification Relating to Client’s Account, Interest Calculations, Holdings, etc.
Conducting GAP Analysis of Documentation, Operations and NBFC Compliance Issues
SEBI Related Services
Preparation of Stock Brokering Application for Registration with SEBI
Preparation of Merchant Banker Application for Registration with SEBI
Preparation of Merchant Banker Renewal Application with SEBI
Advising on Regulatory Compliances such as Submission of Periodic Reports with SEBI
Assisting in SEBI / Exchange Inspection and Drafting Reply on Inspection Observations / Findings
Advising on Prior Approval of SEBI for Change in Control
Conducting Mock Inspection and Compliance Review
Certification Relating to Net Worth, Shareholding Pattern, etc.
Advisory Services Related to Various Litigations by Clients & Regulators
ROC Related Services
Advising on Various Matters Related to Companies Act
Incorporation of LLP/Private Limited/Public Limited Company
Compliance with Annual e-Filing with RoC including XBRL Filing
