Policies & compliance

At Saarathi Accountants & Advisor’s, we are dedicated to ensuring the highest standards of compliance, technical expertise, client alignment, and independence in our service delivery. Our stringent quality assurance practices exceed the professional requirements set by the Accounting Professional and Ethical Standards Board (APESB) approved revisions to APES 320 that become effective from 1 January 2023, reflecting our unwavering commitment to delivering exceptional services to our clients.

Our quality assurance framework includes:

• Overseeing the effectiveness of quality control policies and manuals, in alignment with APES 320 Quality Management for Non-Assurance Services.
• Designated Technical Personnel: Senior professionals and directors dedicated to developing and consistently applying audit independence and quality control methodologies.
• Objective Peer Reviews: Internal processes involving peer reviews to ensure the quality of work before any deliverables, whether draft or final, are presented to the client.
• Client Feedback Mechanisms: A robust feedback process focused on achieving and maintaining client satisfaction.
• Continuous Improvement Initiatives: A system that encourages performance improvement suggestions, which are thoroughly reviewed and implemented to enhance service delivery.
• Comprehensive Peer Reviews: Regular reviews to assess compliance with all relevant policies and procedures. Our most recent review confirmed full compliance, with no significant issues identified.

Through these rigorous quality assurance measures, Saarathi Accountants & Advisor ensures every aspect of our work meets the highest standards, reinforcing our dedication to excellence and client trust.

The Risk and Quality Management team serves as Saarathi Accountants & Advisors’ primary senior executive management team responsible for overseeing our risk profile. The team supports in fulfilling its governance responsibilities related to overall risk management, compliance, and controlled entities.

The risk management team’s role is to monitor risk and compliance management across the organization and initiate necessary corrective actions, including:

• Overseeing the effectiveness of risk and compliance policies and frameworks, in alignment with APES 325 Risk Management for Firms. https://apesb.org.au/standards-guidance/risk-management-for-firms-apes-325/
• Ensuring quality control for non-assurance engagements.
• Reviewing risk and compliance incidents to identify areas for improvement.
• Monitoring new and emerging risks that may impact the business.
• Ensuring the organization meets all regulatory obligations.

The responsibility for day-to-day risk management lies with every employee. Each Business Unit plays an active role in implementing the risk and compliance framework and participating in decision-making processes for all significant risk matters. This shared accountability ensures that risk management is integrated into all aspects of Saarathi Accountants & Advisors operations.

Saarathi Accountants & Advisors maintains a sufficient number of tax agents, ensuring regular supervision at the highest level and providing accessible guidance and support to all team members.

For certain engagements, our qualification process may determine that deploying a highly experienced senior team is essential to effectively manage risk, deliver specialized expertise, and achieve results efficiently. For this engagement, we identified that a senior team would provide the best outcomes and deliver exceptional value for money.

We are dedicated to delivering high-quality service and ensuring complete client satisfaction. Adherence to our policies is reinforced through a structured review process and standardized engagement control procedures, which include:

• Comprehensive planning for each engagement, with the plan document for your approval. This plan outlines agreed actions, scope, outcomes, and staffing.
• Rigorous review of all files by the Engagement Partner and Engagement Manager to maintain quality and consistency.

At Saarathi Accountants & Advisors, we prioritize excellence in service delivery and uphold the highest standards in every engagement.

Saarathi Accountants & Advisors secures insurance from third-party providers in compliance with regulatory and professional requirements for the services we deliver.

At Saarathi Accountants & Advisors, we ensure our IT systems are consistently updated to safeguard client data. Maintaining client confidentiality is a cornerstone of our business.