Question 1

What is the difference between audit and assurance?

Accepted Answer

Audit and assurance are processes used for evaluating the financial record of a company as per the accounting standards and principles to check its accuracy. The audit is the process of evaluating the accounting entries of the financial statement of the company; whereas, Assurance is an analysis process and used in assessing accounting entries and financial records.

Question 2

What are mergers and acquisitions?

Accepted Answer

Mergers and Acquisitions (M&A) are transactions that take place between two companies combining together. In a merger, two similar sized enterprises or companies combine to form a new single entity. In an acquisition, a larger company acquires a smaller company, thereby absorbing the smaller company.

Question 3

What is legal advisory?

Accepted Answer

Legal advisory is basically a  complete set of consultations offered to a particular company or enterprise by legal advisors who are subject matter experts and guide their clients regarding the legal and legislation norms pertaining to the type of market.

Question 4

What are 2 types of taxes?

Accepted Answer

There are two types of taxes, one is Direct Tax and other is Indirect Tax.

Question 5

What is risk advisory?

Accepted Answer

Risk Advisory is meant to help an organization or an enterprise understand the risks of business and
company formation and minimize such risks. These advisory services may include: Risk Management,
Standard Operating Procedures, Design & Evaluation-SOX & IFC/ICFR, Cost Optimization, Supply Chain
Assessment, Transaction Monitoring Support and so on.