SORAB S. ENGINEER & Co.

Chartered Accountants

SORAB S. ENGINEER & Co.

Chartered Accountants

Celebrating 105 years

Services

Audit & Assurance

a. Financial Statements Audit:

  • Extensive experience in providing assurance services under various statutes across various industries for the past several decades.
  • Assurance services involve carrying out Statutory and Tax Audits to ensure that financial statements present a true and fair view of financial positions and operational results in accordance with the guidelines issued by the regulator.
  • Audit reports are prepared strictly in accordance with the rules and regulations defined by the Government agencies. The complete audit process is IT enabled and review and documentation are carried out through software.
  • Continuous knowledge enhancement is ensured through internal publications, training and seminars.

b. IND-AS and IFRS Advisory:

  • Advising and assisting clients in respect of accounting under various GAAPs which involves assistance in the implementation of identified changes for convergence, assisting in the compilation of financial statements, providing adequate staff training and consultancy on technical issues.
  • Proactively monitoring new accounting rules, alerting our clients to dynamic requirements and offering assistance with addressing complex accounting or reporting challenges.
  • Certified technical teams with proven skills provide all the guidance to the entities about the evolving global financial reporting framework ensuring that the reporting requirements have complied.
  • Certified technical teams with proven skills provide all the guidance to the entities about the evolving global financial reporting framework ensuring that the reporting requirements have complied.

c. Internal Financial Controls (IFC)

  • Testing of design and operative effectiveness of an organisation’s process and entity-level controls.
  • Help organization transition to a process-based approach for financial control compliance, identifying effective ways to appropriately reduce effort through better risk assessment, scoping and use to technology.
  • Approach and methodology are oriented towards a consultative and collaborative model, bringing to table a good understanding of your industry.
  • Benefits of IFC include – Definition of clear accountability and Transparency, opportunities to plug leakages, streamlining & standardizing controls and enhancing governance framework.

d. Risk Advisory, Internal & Management Audits

  • A comprehensive evaluation of internal controls, internal systems and internal processes in organizations and recommending areas for improvement.
  • Vastly experienced audit professionals follow a risk-based approach that involves a risk assessment of the entity’s business & its key business process.
  • Risk-based internal audit helps the risk management function of the entity by providing assurance about the risk mitigation and provides assurance to the management that risk management processes are managing risks effectively, in relation to the risk appetite.
  • The approach comprises of a completely independent process, and information technology (IT) internal audit sourcing capabilities that use industry-leading practices and deep technical and analytical skills related to core process and related control assessments.
  • The approach comprises of a completely independent process, and information technology (IT) internal audit sourcing capabilities that use industry-leading practices and deep technical and analytical skills related to core process and related control assessments.
Direct taxes

All areas of taxation: Personal Tax, Corporate Tax. | Suggesting legal structure of business entities. | Transactional advisory – optimal deal structure | Tax Due Diligence

a. Domestic Tax Advisory

  • All areas of taxation: Personal Tax, Corporate Tax.
  • Suggesting the legal structure of business entities.
  • Transactional advisory – optimal deal structure.
  • Tax Due Diligence.
  • Advising clients on the establishment of the Tax Management System.
  • Conducting Diagnostic Study to ensure full tax benefits of various incentive provisions availed.

b. Tax Compliances

  • Filing of Income-tax returns and TDS returns.
  • Withholding Tax Advisory and issuing the requisite certificate.
  • Obtaining a various certificate from the Income Tax department.
  • Compliances under gratuity, superannuation, and other such Acts.

c. Advising clients on optimal Pricing Policy.

  • Conducting Transfer Pricing Audits and Certification for both International and Domestic transactions.
  • Handling Advance Pricing Agreement (APA) assignments.
  • Compliances w.r.t Country by Country Reporting and Master File.
Indirect taxes

Advising a client on establishment of the indirect tax management system, in all areas i.e. GST, Customs, Foreign Trade Policies and Old Laws (Excise, Service Tax & VAT).
Suggesting the legal structure of business transactions.

a. Indirect Tax Advisory

  • Advising a client on establishment of the indirect tax management system, in all areas i.e. GST, Customs, Foreign Trade Policies and Old Laws (Excise, Service Tax & VAT).
  • Suggesting the legal structure of business transactions.
  • Written opinion.
  • Taxability of the transaction.

b. GST Compliance and GST Statutory Audit

  • All India GST Compliances.
  • Data analysis vis-à-vis Tax Laws.
  • Liability Calculation.
  • Return Filing.
  • Monthly MIS of Indirect Tax Compliance.
  • Obtaining GSTIN.
  • Review of data, returns, systems vis-à-vis Tax Laws.
  • Review of Tax computation.
  • Finalization of observation and discussion.
  • Finalization of Reconciliation and Audit Report.
  • The signing of Audit Report & reconciliation Statement.
Business Advisory

Valuation for the purpose of mergers, acquisitions, demergers, joint ventures etc.
Valuation for regulatory compliances including The Income Tax Act 1961, The Companies Act 2013, SEBI, NCLT, RBI etc.

a. Mergers and Acquisitions

  • End to end services for transactions including transaction structuring, tax and valuation structuring, tax and valuation advisory, etc.

b. Corporate Restructuring

  • Restructuring of businesses for unlocking shareholder value.
  • Efficient structuring for acquisition/divestment.
  • Simplification of complex group structures to ensure access to capital for growth-oriented business units.
  • Internal restructuring to achieve optimum holding structure for domestic and international business.

Accounting Business
Process Outsourcing

A dedicated team providing accounting and financial reporting advice and support to domestic and international clients on a wide range of transactions and events.

a. Financial Accounting Services

  • A dedicated team providing accounting and financial reporting advice and support to domestic and international clients on a wide range of transactions and events.
  • Teams are versed with all leading Global ERP software and can support in bookkeeping, compliance and preparation of financial statements.
  • Provides the basis for managers, employers and owners to make management or operating decisions.

b. Account Reconciliation Services

  • Diverse account reconciliation services depending on the entity’s size, structure and business goals.
  • Streamlined procedures and use of automated systems to maintain accuracy.
  • Includes Vendor, Customer, Bank, Inter-Company, Inter Accounts & Inventory Reconciliations.

c. Fixed Assets Management

  • End to end fixed assets management services with expert teams having relevant industry-wide experiences.
  • Creation of Fixed assets registers from accounting source.
  • Physical verification & tagging including barcoding, & RFID solutions.
  • Reconciliation of physical results with assets registers.
  • Software mapping of Fixed Assets for robust control and asset tracking.

105 Years of Accumulated Practice

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At Sorab S. Engineer & Co., the strategy has always been to understand what is most important to the client to help them look for ways to create sustainable value addition and satisfaction in a truly professional environment.