AMAJ audit division takes up each audit assignment with rigorous standards of professional independence and objectivity, with emphasis on crucial risk areas of client’s business.
AMAJ adapts an audit approach that goes beyond just the financials of the client and try to understand their industry, their long-term strategy including any risks that need to be assessed and managed.
AMAJ Audit and Assurance Practices adhere with the International Standards on Quality Control, Auditing, Review, Other Assurance and Related Services issued by International Federation of Accountants (IFAC).
Internal audit & system controls
The main objectives of internal audit are to address concerns in risk management, internal control environment assessments, process improvements; enterprise risk management (ERM) programs and regulatory compliance.
AMAJ internal audit division is well equipped to conduct internal audits covering all aspects of client’s business and adapts a structured approach where:
Key processes, procedures & operation will be analyzed and key controls in each such operation, procedure & process will be identified.
Adequacy of these controls will be evaluated and sample transactions against these controls will be tested for compliance.
Control weaknesses will be identified and appropriate control processes will be recommended
Follow up of action will be taken on recommendations made in previous reports.
Business valuation is a set of processes and procedures to find out the economic value of a business which is required for mergers, outright sales/purchases, enter into partnership etc. Different valuation methods are available as per the types and nature of businesses.
AMAJ consultants possesses hands on expertise in valuation of different types of businesses.
Business Risk assessments
The process of identifying risks, assessing risks and developing strategies to manage risks is known as risk management. A risk management plan and a business impact analysis are important parts of any business continuity plan. Understanding the potential risks to the business and adapting strategies to mitigate their impacts is important to recover the business quickly if an incident occurs.
Types of risk vary from business to business but preparing a risk management plan involves a common process. A proper risk management plan should detail the strategy for dealing with risks specific to the business.
AMAJ experts helps organizations to conduct a risk assessment study and formulate strategies for risk mitigation. This will help clients to meet their legal obligations for providing a safe workplace and can reduce the likelihood of an incident negatively impacting the business.
Business due diligence
Conducting due diligence is the best way for assessing the value of a business and the risks associated with it before entering into a purchase or merger deal. Due diligence gives you access to important and confidential information about a business, often within a time period specified in a letter of intent.
Due diligence involves a deep look at the business's operations, financial performance, legal and tax compliance, customer contracts, intellectual property, assets and other details etc. to evaluate the value and risks.
AMAJ consultants have conducted several due diligence studies for major take overs and outright purchases. AMAJ prepares a detailed check list for due diligence after studying the general nature of the business to ensure that all aspects of due diligence are covered in the study. A detailed due diligence report will be submitted with AMAJ recommendation.