Comprehensive, compliant audits validate your organization’s finances to foster shareholder and public trust and confidence in your business. Our auditors possess a deep understanding of unique business, economic, and regulatory environments that can improve financial performance. From detecting unforeseen issues and identifying inefficiencies to reducing costs and ensuring regulatory compliance, our tailored auditing services are driven by your business objectives
At Fifth Dimension we understand your audit is more than just numbers and compliance. Our experts work closely with you to understand your company, your industry and your world including your internal controls to help ensure you get the most valuable information from our services. By utilizing our risk-based audit approach, combined with our proactive communication, we are able to shift our focus from examining the quality of the financial statements to building quality into the financial reporting process.
At Fifth Dimension our audit and assurance service strives to achieve clear objectives for shareholders and your business management team by providing:
Our seasoned internal audit team has extensive experience in risk assessment, which is the foundation of internal audit function. Our methodology with and for each client depends upon their internal audit requirements and capabilities. There are assignments wherein, we function as the client’s outsourced internal audit department. In this capacity, we work closely with both external auditors and management team to ensure that our procedures meet the needs of the organization in the most efficient and cost-effective manner.
We can help you identify and manage risks, improve internal controls, and enhance operational efficiency and also perform a cost-benefit analysis
We conduct compliance and secretarial audits which strengthens Corporate Governance in an organisation. Compliance audit assists Audit Committee by providing status of various management as well as regulatory compliances. It also assists in evaluating of the effectiveness of internal control and compliance mechanism within an organisation.
We undertake special investigation audits of the books of accounts for special purposes including detection of fraud, causes of sickness, compliance of terms underlying an agreement. We also undertake special investigations, the scope of which is ordinarily defined by the client.
We have been extensively involved in conducting stock audits for clients across spectrum of industry. Our sheet to floor and floor to sheet stock audits have been assisting clients in keep tab on their stock as well as year end audits that help them with their annual statutory compliances. We have also been involved in conducting surprise stock audits as and when the client deems necessary. With our multiple branches across India, the same helps in conducting parallel stock audits across location simultaneously. Large number of companies are operating across the borders through multiple locations and channel partners, making asset management a challenge. We aim at delivering focused services to companies to keep their physical assets check accounted and controlled.
In today’s complex business environment, conducting a robust risk assessment before an audit is essential. Risk assessments play a crucial role in the audit process, serving as the foundation upon which businesses build their compliance strategies. Understanding the importance of risk assessments prior to an audit can significantly enhance the efficiency and effectiveness of the audit process. Whether it is an internal or external audit, these risk assessments are vital in ensuring that organisations have a full grasp of the potential liabilities that could affect the integrity of financial statements.
Risk assessments are essential in identifying risks that could lead to material misstatements in financial records. They form the basis for designing and implementing audit procedures that are tailored to the specific risks identified. Not only do risk assessments safeguard against inaccuracies and fraud, but they aid in compliance with legal requirements. These assessments guide auditors in allocating resources and choosing which areas require more in-depth scrutiny.
As a non-attest function, the Risk Advisory function thrives on adding value to a client process or concern. The team brings to table the experience of working with businesses, thereby avoiding reinventing-the-wheel for a peculiar concern. As processes proceed business growth, a robust Internal Audit function goes a long way in managing growth of entities that are on poised on their growth trajectory.
