AUDIT AND ACCOUNTING

The Firm has implemented the latest methods for maximizing audit efficiency through a risk based international audit approach. This enables timely delivery and value added advisory services to clients. KSA has a significant audit practice and is one of the top accounting firms besides being the oldest Indian accounting firm in India being founded in 1897.

In financial reporting engagements, the firm believes that independence, in fact and in appearance, is to be maintained in all engagements where it is required or professionally warranted. Particular attention is to be directed to understanding the entity's business and the environment in which it operates, and to ensuring that any specialized knowledge required by the engagement is appropriately brought to bear. Accounting issues are to be resolved based on our understanding of the substance of the underlying transactions, not their form. An attitude of healthy professional scepticism is maintained. Clients are urged to adopt accounting and reporting practices that we believe are appropriate in the circumstances

Most importantly the Firm's audit approach is business oriented. It focuses on an understanding of the client's business much deeper than the knowledge of the accounting system and records on which auditors have traditionally concentrated. We reflect this business orientation in several ways: our audit focuses on the substance of the underlying business rather than just the financial statements; we use our knowledge of the business and consider other services we provide in determining our audit procedures and appropriate sources of audit evidence; we use information we obtain from other services we may have performed during the year to offer constructive advice to management.

We are aware that the integrity and reputation of a client's management could reflect on the reliability of their accounting records and financial representations and, therefore, on the Firm's reputation. The Firm requires evaluation of all potential new audit and assurance service clients.

The firm performs Tax Audits under the Income Tax Act and undertakes Review Engagements for assurance clients, especially those listed companies, which are required to have their quarterly-yearly results subjected to a limited review.

Assurance clients extend to virtually all business sectors, and industry segments, ranging from manufacturing, trading, logistics, pharmaceuticals, information technology, financial services, banking, exchanges, dot-coms and e-commerce businesses

The following is a select list of Sectors and Industries of the Firm's current Clients:

• Courier & Cargo
• Pharmaceutical
• Glass
• Financial Service Dotcom
• Cement & Refractoriesv
• General Engineering
• Air-conditioning
• Speciality Chemicals
• Bulk Transport Logistics
• Mutual Fund
• Application Service Provider
• Fertiliser & Chemicals
• Brokers e-Plaza
• Pharmaceutical
• Non-Life Insurance
• Civil construction
• Projects & Pipe Mfg
• Yarn

• Information Technology
• Exchange Indices Provider
• Textile
• Sole Distributors- Time / Life
• Life Insurance Company
• Publishers
• Stock Exchange
• Transporters
• AutoAncillaries & Electricals
• Automobile
• Sugar & Confectionery
• Auto Body Builders
• Shipping
• Bank
• Consulting Engineers
• Star Export House
• Switchgear
• Engineering
• Filter paper