2. Contents
Who Are We
Services offered by us
Empanelled with
Key People
3. Who Are We
A R Das & Associate is based at Kolkata with a
branch office in Chennai and was formed in 1985 by a
group of Chartered Accountants having several years
of experience in ‘Big Four’ firm.
The Firm specializes in the Area of Business Advisory,
Audit, Taxation and Information Systems Audit.
The client base comprises of some of the most
prestigious Indian Corporate Houses / Multinationals
across verticals.
Statutory Central Auditor of Canara Bank since
December 2013
4. Services offered by us
Business Advisory
Audit & Accounting Services
Assurance Services
Taxation
5. Business Advisory
Financial Consultancy
o Merger and amalgamation
o Due-diligence
o Assisting clients with their business entry strategy into
the country
o Setting up new legal entities
o Working capital management
o Cost analysis and cost reduction
o Capital structure planning and advice regarding raising
finance
o Rehabilitation and Revival
o Techno-economic feasibility study
o Valuation of assets, business and shares
6. Business Advisory
Financial Consultancy
o Merger and amalgamation
o Due-diligence
o Assisting clients with their business entry strategy into
the country
o Setting up new legal entities
o Working capital management
o Cost analysis and cost reduction
o Capital structure planning and advice regarding raising
finance
o Rehabilitation and Revival
o Techno-economic feasibility study
o Valuation of assets, business and shares
7. Business Advisory
Controls Design and Implementation Services
Advice on the controls and security related to the development
and implementation of a new computer system with particular
emphasis on control over the application itself including user
procedures, programmed procedures and computer controls.
We get involved as a member of a project group conducting a
package selection exercise. This includes review of the
selected package and recommendation of key controls to be
exercised by users at all locations within the organisation and
within the IT department, basically assisting in doing Proof Of
concept document (PoC).
Review of systems developed in-house. The output includes
flowcharts of the application and recommended control
procedures to be incorporated in internal user guidance on the
system.
8. Audit
The Firm has a well structured and tested
methodology for providing Assurance Services to its
clients effectively, efficiently & economically
The audit approach encompasses the entire audit
cycle from planning to completion of the assignment
and takes into account the specific nature of each
assignment.
We strictly follow the Accounting and Auditing
standards, guidelines and other pronouncements of
the Institute of Chartered Accountants of India (ICAI).
ICAI’s accounting and auditing standards integrate
the international accounting and auditing standards
and the applicable Indian laws, customs, usage and
business environment.
9. Audit
Our Audit approach involves:
Understanding of clients business from both
business and accounting perspective
Assessment of clients internal control environment
and control procedure
Selecting appropriate audit tools and techniques for
analytical and substantive audit procedures.
Field work and review
Resolving audit issues, forming audit opinion and
reporting
Communicating with management on an ongoing
basis throughout the audit
11. Assurance Service – Internal Audit
Our Audit process is:
Continuous Communication
Determine
Objectives, scope,
timing and
resources and
involves
-Process
understanding
-Information
gathering
-Risk Assessment
-Preparation of
Audit program
Test processes,
transactions and
controls
Analyze test
results
Identify
weaknesses, if
any
Suggest
improvements
Communicate
observations to
client and
involves
-Draft report with
observations,
impact and
recommendations
-Mgt response
-Report
distribution
Planning Field Work Reporting
12. Assurance Service – Internal Audit
We follow COSO’s Internal Control – Integrated Framework
for our Internal audit which covers the following 5
components relating to objectives of Operations,
Reporting, Compliance:
Review of Control environment
Risk assessment of business processes
Identifying the control activities that may already be there and
assess if they are effective and adequate to mitigate the risks
Information and communication within the organisation and
also with external parties
Monitoring activities to evaluate if internal control components
are present and functioning.
13.
14. Assurance Service – Internal Audit
Our clients are
Exide Industries
Chloride Power Sys and Solutions (100% subsidiary of
Exide)
Onprocess Technology India Private Limited (subsidiary
of Onprocess Inc, USA, http://www.onprocess.com)
NRHM, Assam
ITC (Kidderpore Factory)
15. Assurance Service – Information
Systems Review
Pre-implementation review of new application
systems.
During the system implementation phase of
package software like an ERP, Certified Systems
Auditors of the Firm review that controls are being
configured in line with the ‘Blue Print’, suggests
Standard Operating Procedures for ‘way around’.
Assist the Business Users, Internal Auditors in
‘UAT’, especially in the areas of integration with 3rd
Party software / link like B2B transactions etc.
16. Assurance Service – Information
Systems Review
Post-implementation review of large ERP systems like
SAP
Review of end-to-end controls for each business cycle
(Procurement to Pay, Order to Cash etc.) vis-a-vis as
envisaged to identify
the exposure from the risks
if Internal controls are adequate for the business
and that all the tenets of security are complied with
(Confidentiality, Integrity, Availability and Compliance).
We suggest necessary recommendations to reduce the
risk.
We follow a risk based Audit Approach and use Lotus
Notes based audit checklist for the review.
17. Assurance Service – Information
Systems Review
IS Policy Review
Most of the Corporate Houses have already
implemented IS Policy including Disaster Recovery
Plan for each System and an over all Contingency
Plan. We assist the Internal Audit division in the
post implementation review of the Policy to ensure
effective controls and compliance.
18. Tax
Direct Tax
Advise on direct taxation e.g. Income Tax, Wealth Tax for
corporate and non-corporate
Tax Planning
Handling Assessment Proceedings
Preparation and filing of appeal before Commissioner
and Tribunal
Appear before Appellate Authorities
Liaison with senior counsels
Indirect Tax
Excise matters, Sales Tax and VAT
19. Empanelment
For Attestation
CAG of India
Reserve Bank of India
Life Insurance Corporation of India
Consultancy Services
DFID ( Department of International Funding )
ADB ( Asian Development Bank )
IDBI
Indian Renewable Energy Development Agencies Ltd. (
IREDA )
20. Empanelment
For Attestation
CAG of India
Reserve Bank of India
Life Insurance Corporation of India
Consultancy Services
DFID ( Department of International Funding )
ADB ( Asian Development Bank )
IDBI
Indian Renewable Energy Development Agencies Ltd. (
IREDA )
21. Key People
Mr. Asit Ranjan Das, M.Com and FCA
Aged 70, he is the Managing partner of the firm, in charge of Financial &
Consultancy practice. More than 40 years’ experience in the profession
including 17 years with Lovelock & Lewes (now a member firm of PwC) and 1
year with Coopers & Lybrand, London.
Mr. Syamal Kumar Nayak, M.Com, FCA, CISA and CISM
Aged 56, he is In–Charge of the Assurance Services. He is having more than
30 years of experience in Accounting and IT practice. He has served as a
Partner in Lovelock & Lewes for 10 years before starting his own practice. He
was trained in Information Systems Audit in Coopers & Lybrand, London. He is
the signing Partner for Canara Bank.
Mr. M Chandrsekhar, B.Com and FCA
Aged 57, he is In-charge of the Chennai office, having more than 30 years of
experience and is with the firm for last 15 years. He is in charge of the Firm’s
Tax department.
22. Key People
Ms. Piyali Basu, B.Com, FCA and CISA
Aged 50, she qualified in 1988 and has more than 25 years of experience
in System Audit and Assurance. She worked in Lovelock & Lewes for 10
years and left the Firm as a Senior Manager.
Mr. Swarnendu Chaudhury, B.Com and FCA
Aged 49, he has 25 years of experience in Audit. He worked in Lovelock &
Lewes for 10 years and left the Firm as a Senior Manager.
Mr. R Ramalingam, B.Com and FCA
Aged 57, he has 20 years of experience in Industry and Audit. He joined
the Chennai branch in 2003 and became a Partner in 2006. He handles
the Internal Audit and Bank Audits.
23. Major Listed Clients for Systems Audit
Aditya Birla Group (SAP and Other Systems Audit)
Ultra Tech Cement
Grasim Marketing
Madura Fashion and Lifestyle
Indo Gulf Fertilizers
Birla Copper
Vikram Cement
Grasim Central Finance Division (CFD)
Grasim Bhiwani Textiles Limited Corporate Finance Division
Birla Sunlife
ITC (ITD and PCPB Division) – Systems Audit, IT Policy Compliance
Review
ITC (Corporate) – Training Internal Auditors on ‘Audit in SAP
environment’
Numaligarh Refineries Limited
Kalpena Industries
Essar Steel
