Services
Audit & Assurance
Audit Beyond Compliance
Numbers you can trust. Risks you can see. Decisions you can make with confidence.
An effective audit should do more than identify accounting errors. It should provide stakeholders with confidence in financial information, highlight areas of risk and help management strengthen processes and controls.
At Bonada Advisory Group, we combine financial expertise, analytical review and industry understanding to provide audit and assurance services that go beyond compliance. Whether you require a statutory audit, internal audit, stock audit, due diligence or a focused compliance review, our approach is designed to provide clear findings, practical recommendations and meaningful insights.
Services
01 Statutory Audit Independent Assurance Over Your Financial Statements
We conduct statutory audits in accordance with applicable requirements and auditing standards, with a focus on obtaining sufficient appropriate audit evidence and understanding the financial and operational environment of the business.
Our approach includes
- Understanding the business and its financial reporting environment
- Risk assessment and audit planning
- Testing of significant transactions and balances
- Review of accounting policies and financial statements
- Internal control evaluation
- Analytical procedures
- Compliance considerations
- Audit documentation and reporting
02 Internal Audit & Controls Strengthening Controls. Managing Risk. Improving Processes.
Internal audit can provide management with an independent perspective on the effectiveness of internal controls, risk management and business processes.
Our internal audit approach can cover
- Risk Assessment & Audit Planning
- We identify significant financial, operational, compliance and process risks and develop an audit plan around the areas that matter most to the business.
- Process & Control Review
- We evaluate whether controls are appropriately designed and whether they are implemented effectively.
- Operating Effectiveness
- We test whether key controls are actually operating as intended, using appropriate audit evidence and procedures.
- Compliance Audit
- We assess adherence to applicable laws, regulations, policies and internal procedures.
- Operational Audit
- We examine processes for efficiency, effectiveness, control gaps and opportunities for improvement.
- Financial Controls Review
- Review of controls around revenue, expenses, procurement, inventory, receivables, payables, cash and financial reporting.
- IT & System Controls
- Review of relevant system-based controls, access controls, data integrity and technology-enabled processes, where applicable.
- Fraud Risk & Red-Flag Review
- Identification of unusual transactions, control weaknesses and areas requiring further investigation, within the agreed scope.
- Follow-up & Re-examination
- We track agreed corrective actions and conduct follow-up reviews to assess whether identified issues have been addressed.
03 Stock & Inventory Audit Independent Verification of Inventory & Stock Records
Stock audits help businesses, lenders and other stakeholders assess whether physical inventory is appropriately recorded and whether stock records are supported by actual quantities.
Our stock audit services may include
- Physical verification of inventory
- Reconciliation of physical stock with books and records
- Stock ageing analysis
- Identification of slow-moving and obsolete inventory
- Valuation-related review
- Inventory movement analysis
- Cut-off testing
- Review of stock records and controls
- Identification of discrepancies and exceptions
- Reporting of significant observations
04 GST Audit & Compliance Review Identifying Gaps Before They Become Problems
We assist businesses with structured reviews of GST compliance, transactions and processes.
Services may include
- GST compliance review
- GST return reconciliation
- Input Tax Credit review
- Output tax review
- Classification and tax-rate review
- E-invoicing and e-way bill review
- GSTR-1 / GSTR-3B reconciliation
- ITC reconciliation
- GST due diligence
- Review before departmental proceedings/audit
- Area-specific GST reviews
- GST controls and process review
05 Financial Due Diligence Look Beyond the Numbers Before You Invest, Acquire or Partner.
Financial due diligence provides an independent view of the financial position and underlying performance of a business before a significant transaction or investment.
Our review may cover
- Historical financial performance
- Revenue and profitability trends
- Quality of earnings
- Working capital
- Cash flows
- Debt and other liabilities
- Related-party transactions
- Tax exposures
- Accounting policies
- Contingent liabilities
- Customer and vendor concentration
- One-off and unusual transactions
- Key financial and operational risks
06 Audit & Due Diligence Readiness Be Ready Before the Auditor, Investor or Lender Asks.
Businesses often struggle not because information doesn’t exist, but because it is scattered, unreconciled or difficult to substantiate.
We help businesses prepare for
- Statutory audits
- Tax audits
- GST reviews
- Investor due diligence
- Bank and lender reviews
- Acquisition due diligence
- Financial reviews
- Internal audits
Our readiness review can identify
- Missing documentation
- Unreconciled balances
- Weak supporting evidence
- Accounting inconsistencies
- Control gaps
- Compliance exposures
- Financial reporting issues
- Information gaps likely to attract questions
07 Internal Controls & Process Assurance Stronger Controls. Fewer Surprises.
We review the design and implementation of key business controls across financial and operational processes.
Areas may include
- Procure-to-pay
- Order-to-cash
- Revenue
- Inventory
- Payroll
- Treasury
- Fixed assets
- Financial reporting
- Vendor management
- Customer collections
- Delegation of authority
- User access and system controls
08 Management / Special Purpose Reviews Focused Reviews for Specific Business Questions
Where management needs an independent review of a particular financial or operational area, we can undertake focused assignments based on the agreed scope.
Examples include
- Revenue review
- Expense review
- Project cost review
- Working capital review
- Related-party transaction review
- Financial process review
- Compliance review
- Project / contract review
- Specific ledger or transaction review
- Agreed-upon procedures, where appropriate
09 Financial & Operational Risk Reviews Identify Risks Before They Become Losses.
We assess financial and operational processes to identify areas where weaknesses could result in financial loss, compliance exposure, inefficient processes or unreliable reporting.
The review can cover
- Financial risks
- Operational risks
- Compliance risks
- Process risks
- Control risks
- Fraud-related risk indicators
- Reporting risks
- Business continuity considerations
10 Audit Support Making the Audit Process Smoother
For businesses that already have auditors, BAG can provide finance and audit-readiness support within the appropriate professional and independence boundaries.
This may include
- Preparation of audit schedules
- Reconciliation support
- Documentation organisation
- Financial statement support
- Audit query coordination
- Ledger analysis
- Supporting documentation
- Management representation support
Book a consultation
Let’s build your financial recipe together.
Tell us where your business is today and where you want it to go. We’ll help you choose the right ingredients.