Our Services
To Auditing Firms
We offer a wide range of services for audit firms to meet their business objectives with clarity and confidence. Any individual/ firm/ organisation which promotes a culture of quality is a potential stakeholder with True and Fair since they will be sharing a common objective of promoting audit quality. We will enable onboarding Information Technology auditors, forensic auditors and valuation specialists to provide the necessary audit support as experts to the audit firms. Our audit quality policies, procedures and guidance will describe the nature, extent and manner of involvement of these experts in an audit, including reporting protocols. As an audit firm you can avail any of the services listed below based on your needs by subscribing to:
Policy on System of Quality Control / System of Quality Management
Audit Practice Manual and Technical Guidance
Audit Documentation and Archival Tool (ADAT)
Audit Documentation Content (ADOC)
Audit Quality Monitoring Services
Onboarding Specialists/ Experts to support audit firms
Training and development
"Quality Lead" Program wherein we will take the role of the Firm's Quality Leader for a specific period as agreed with the Firm, to help them establish a Quality Policy with an Audit Methodology and would additionally involve providing guidance on development and implementation of policies and practices with regard to:
To create a platform to connect, collaborate and form network(s)
Leadership composition and responsibilities
Ethics and Independence
Promotion and Appraisals for Talent Management
Client and Engagement Acceptance Process
Independence and Conflict Evaluation and Management
Engagement Performance (including consultations, EQCR, Archival etc.)
Setting up Engagement Monitoring Process
Evaluation of AQMM (v1) compliance status and plan
Establishing a Training Plan / Calendar and Follow up monitoring on status
Managing on going communications within the Firm, etc.
Policy for audit documentation
Embarking on the journey of ISQM 1 and ISQM 2
We will also enable the audit firms to work with other CA firms to obtain Engagement Quality Control Reviews as required/permissible under the professional standards or engage with such other CA firms for consulting on complex accounting/auditing matters.
Enabling Network of CA firms - True and Fair believes that it can enable the audit firms.
To create a platform to connect, collaborate and form network(s)
To strengthen and enhance their capacity, capability and quality and
To have common policies and practices, audit tools and technology and common shared values leading to a common culture
Such network of CA firms can work with the guidance and advice of True and Fair in performing audits and leverage on the brand of True and Fair as it evolves.
Get in touch to know more.
Practical Training & Development
We provide real life case studies and practical training to the representatives of the CA firms on technical aspects and practical matters in performance of the statutory audit which will cover the entire life cycle of the audit right from the planning, execution to conclusion and specific items of importance in audit. We will support aspiring and qualified Chartered Accountants and other eligible professionals with classroom training to set you up for employment in audit firms. Our curriculum is designed with industry specific real life case studies that will help you hit the ground running as you embark on your professional journey as an auditor.
Get in touch to know more.
To Corporates
As a corporate - small, medium, or large - you will face defining events throughout the course of your business that will shape the future of your organisation’s financial reporting. Our team of experts are well versed to deal with the developments in and complexity of financial reporting and will help you navigate them with ease. Our offerings are designed around major lifecycle events of your financial reporting. For corporates, we offer a suite of services which will be tailored, practical and compliant with technical standards and regulatory requirements to guide you through various stages of your growth:
Advisory on complex accounting matters
Best practices in financial reporting
Hosting risk control matrices in respect of Internal Financial Controls over Financial Reporting (IFCoFR)
Enhancements in Financial MIS which reflects the business operations
Developing the right financial governance structure
Tracking implementation of Environmental, Social and Governance (ESG) policies
Prompt updates on regulatory developments
Best practices in financial reporting governance
Engaging with auditors
Training on financial reporting, IFCoFR and financial governance
Get in touch to know more.
To Regulators
We intend to collaborate with Regulators in the following ways:
Suggest/commenting on new standards/guidance relating to financial reporting including amendments or enhancements or withdrawal of the Standards
Assessing a CA firm’s Standard on Quality Control (SQC)
Monitoring and Inspection including selection criteria
Inspection observations evaluation protocols
Setting up a robust Disciplinary mechanism
Training officers for inspections
Get in touch to know more.