:: Gaurav Ashok Jain & Co. :: Chartered Accountants

The challenges of international competition and ever increasing complexity of information flows have widened the financial and business risks faced by companies. With increasing regulatory requirements, the need for greater transparency in operations and disclosure norms, stakeholders require assurance beyond the traditional critique of numbers. Hence assurance is being increasingly required on industry issues, business risks, and key business processes.

Globalization of the Indian corporate world has been a key driver in harmonization of accounting practices and financial disclosure norms. Increasing participation of Foreign Institutional Investors, Non Resident Indians, Mutual funds and other Strategic Investors in the Indian Capital Market is demanding transparent financial statements, as a result, corporate governance is taking deep roots in the Indian corporate sector. Given the Corporate Governance Regulations and the related statutory pronouncements, the role of an auditor has substantially changed. The role of an Audit Committee (ACB) has become more comprehensive and diversified. There has been a complete re-orientation in the form and content of financial statements disclosure in light of the above drivers of change and the recent pronouncements of the Institute of Chartered Accountants of India.

Increasingly we service our clients through teams that are multi-disciplined and sector focused. Our IT infrastructure, which helps people to work together irrespective of where they are, lets us draw on our partners and staff with the most relevant experience for any particular assignment, ensuring that our teams represent the very best that we can offer.

We in Gaurav Ashok Jain & Co. provide a wide range of advisory and compliance services across various industry sectors. We have rich assurance expertise across industry such as construction, Telecommunication, Engineering, Airlines, Software, Media, Transport, Cement, Healthcare & Pharma, Mutual Funds etc. The Division serves various industry houses and banks in the country; public and private enterprises; domestic and Multinational Companies; Not for profit enterprises and more.

Audits are conducted using generally accepted auditing standards and the globally accepted audit practices. Assurance services begin with expressing an opinion on our client’s financial statements, but go far beyond. We also help our clients achieve business objectives; strengthen corporate governance and internal controls.

The Audit & Assurance team comprises of experienced and qualified members, majority being either an associate or a fellow member of the Institute of Chartered Accountants of India. The team is continuously monitored and updated with the audit skills and tools to ensure committed deliverables and compliances.

Restatement of Financial Statements prepared under Indian GAAP to other Overseas GAAP's is fast becoming a norm that some of the leading Indian corporates are adopting.

A large number of Indian corporates are feeling the heat from their investors and other stakeholders to adopt US Generally Accepted Accounting Principles (USGAAP) and/or International Financial Reporting Standards (IFRS). This has lead to an increasing number of companies in India wanting to come in line with global standards and hence state their financial statements in a globally acceptable format.
The International Accounting Advisory Services also include on-going consultancy on enabling companies to be adherent on a real-time basis with international GAAP requirements.
Our professionals are committed to assure corporates in India to restate their Indian GAAP Financial Statements to USGAAP and IFRS and to put in systems and procedures to capture data for disclosure norms of International GAAP.

One of the most significant requirements in the Sarbanes-Oxley Act is the responsibility of the board and management to evaluate and report on the effectiveness of internal controls.

Restatement of Financial Statements prepared under Indian GAAP to other Overseas GAAP's is fast becoming a norm that some of the leading Indian corporates are adopting.