Our Services

AUDIT & ASSURANCE

This service is designed to enhance the reliability and quality of both financial and non-financial information about a company or a business or an entity etc.. Audit and Assurance is a service that involves a thorough and independent review of a company's financial records. The primary aim is to provide an opinion on whether the financial statements present a true and fair picture. It also evaluates the financial, operational, and management aspects of an organization to ensure they align with stated principles and comply with organizational and regulatory standards. Here are the different types of audit and assurance services we provide to our varieties of clients:

Statutory/Financial Statement Audit:

This is a mandatory audit required by law, which is crucial for users of financial information such as shareholders, investors, lenders, and other stakeholders. It provides them with the assurance they need. We prioritize service quality, independence, and transparency, and conduct this audit in accordance with Nepal's auditing standards (NAS), as set by the Auditing Standard Board of Nepal (AuSB), to protect the public interest. We at P. Madhav & Associates, are dedicated to maximizing value for our clients and their stakeholders.

Internal Audit:

This involves a thorough evaluation of an organization's internal controls, systems, and processes, and provides recommendations for improvement. We (P. Madhav & Associates, Chartered Accountant) adopt a risk-based approach that assesses the risks associated with the entity's business and its key processes. This approach helps the entity's risk management function by providing assurance on risk mitigation and ensures that risk management processes are effective, in line with the entity's risk tolerance.

Management Audit:

P. Madhav & Associates offers management auditing services that help clients make significant changes in their operational methods.

Tax Assurance:

Our team of qualified Chartered Accountants at P. Madhav & Associates, Chartered Accountants, with extensive experience in tax matters conducts a comprehensive review of tax audits from various perspectives. This helps clients prepare for and mitigate the impact of audits by tax authorities.

Internal Financial Control (IFC):

This service offered by P. Madhav & Associates, involves testing the design and operational effectiveness of an organization's processes and entity-level controls.

Forensic Audit:

We provide services to detect fraud, misuse of resources, bribery, misconduct, or other financial irregularities. Our team at P. Madhav & Associates, including the proprietor, is equipped with specialized training in accounting frauds and forensic audits conducted by the Institute of Chartered Accountants of Nepal, enabling us to handle investigative assignments with exceptional skill.

Labor Audit:

There is a legal requirement to conduct labor audits within the framework set by labor laws of Nepal and submit the findings to regulators. P. Madhav & Associates offers labor audit services to all types of clients and ensure compliance with labor-related laws.

Assessment & Assurance Service to I/NGOs:

P. Madhav & Associates provides various audit services applicable to I/NGOs, including statutory audits, internal audits, fund-based audits (donor audits), micro-assessments, spot checks, and other relevant activities as agreed upon.

Information System Audit:

We examine the controls within our clients' Information Technology Infrastructure, including systems and applications, system development, information processing, networking, recovery, physical infrastructure, and IT management. This involves studying information systems, practices, records, and operations, and evaluating them. P. Madhav & Associates has experts who are DISA (Diploma in Information System Audit) qualified including the proprietor.