Professional Documents
Culture Documents
Internship Report
on
Submitted to
Md. Harun-Or-Rosid
Associate Professor
Department of Accounting and information systems
University of Barishal
Submitted by
Exam Roll: AIS 024/8
Exam Session: 2020-21
Department of Accounting & Information Systems
University of Barishal.
Dear Sir,
With due respect, I am very glad to submit my Internship Report on the topic of "Audit and
Accounting Services of HT Advisory Services" as a requirement of BBA Program. Your
direction has been followed in every spheres of preparing this report. I have really felt enjoy
working on this internship program and I expect that my work would fulfill the level of your
expected demand.
I am very grateful if you approve my report and I hope that this report will be pleased to
answer any query of you thereby.
Sincerely Yours
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Certificate of Internship Completion
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"Audit and Accounting Services of HT Advisory
Services".
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Copyright Statement
©Author 2023 the authors. This paper is protected by the copyright law of Bangladesh and
International copyright law. Production, marketing, and using this paper without permission
of the author are restricted by copyright law.
Acknowledgment
I want to sincerely thank my faculty member, who from their position really aided me in
finishing this report. This paper would not have been completed without their assistance.
They gave me appropriate direction and counsel at each level of this endeavor. Without their
helpful guidelines and recommendations, this Report would not have been finished. I would
want to thank my classmates for all their assistance with this assignment. Their advice,
thoughts, and comments were really helpful in helping me to complete this report perfectly.
My pals were a huge assistance to me throughout this effort. They helped me gather some
first-hand information. I want to express my gratitude to my entire family for their help and
support throughout the endeavor. And finally, I want to express my gratitude to the
management and staff at HT Advisory Services, who greatly aided me in gathering the
primary data for this report.
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Abstract
This internship report offers a summary of the internship experience at HT Advisory
Services, a renowned company with a focus on audit and accounting services. The paper
starts off with an introduction and objectives, then gives a thorough analysis of HT Advisory
Services, emphasizing its industry, character, and core services. It goes on to detail the
internship position held inside the company, putting special emphasis on the department and
team assignment. The report talks about notable projects and assignments performed during
the internship, highlighting important contributions and achievements made to the
organization. It also outlines the knowledge and skills gained during the internship and
illustrates how applicable they are to the field of audit and accounting. The difficulties and
obstacles that were faced throughout the internship are discussed, emphasizing how they
affected the work and professional growth of the interns. The report finishes with suggestions
for enhancement, methods to improve the internship program, or strategies to help upcoming
interns. Overall, this internship report offers insightful information about the internship
experience at HT Advisory Services, covering accomplishments, difficulties, and suggestions
for the company and upcoming interns.
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Table of Contents
Letter of Transmittal................................................................................................................2
Copyright Statement................................................................................................................5
Acknowledgment......................................................................................................................5
Abstract.....................................................................................................................................6
1.1 Introduction......................................................................................................................9
1.2 Objectives.......................................................................................................................10
2.1 Introduction....................................................................................................................13
2.4 The challenges that businesses face when seeking auditing and accounting services.. .17
3.1 Introduction....................................................................................................................20
4.1 Introduction....................................................................................................................22
4.3 Responsibilities:.............................................................................................................22
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4.4 Assignments and Tasks Completed during the Internship.............................................23
5.1 Introduction....................................................................................................................25
Chapter 07: The skills and knowledge gained through the BBA internship program....36
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Notation and abbreviation used
Not many notations or abbreviation was used to complete this paper. Some of the true used
abbreviations are:
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Chapter 01: Introduction
1.1 Introduction
The field of audit and accounting services has become increasingly important in today's
business world, where financial transparency and integrity are critical components of success.
These services have been offered to clients for many years by HT Advisory Services, a
renowned accounting and auditing organization. I had the chance to work with HT Advisory
Services as part of my BBA internship program and learn more about their audit and
accounting services.
The report will begin by providing an in-depth overview of HT Advisory Services, including
insights into the industry in which the company operates, its size, and primary services. The
precise internship role held by the intern inside the company will also be addressed in this
report. It will provide a thorough knowledge of the intern's position and responsibilities by
outlining the division and team to which the intern was assigned. The report will highlight the
practical application of academic knowledge and the chance to build professional skills
within the framework of HT Advisory Services' operations by looking at the intern's job
description and responsibilities. The intern had the chance to work on significant projects and
tasks that advanced the goals and outcomes of the business. This report will explore these
tasks in-depth, highlighting notable successes and the value the intern contributed to the
organization. The report will demonstrate the intern's development, learning, and capacity to
meet problems in the real world by commenting on these experiences. This report will assess
the services offered by HT Advisory Services in addition to looking at the intern's experience.
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It will assess how well the firm's audit and accounting services maintain its clients' financial
integrity, transparency, and regulatory compliance.
The report will also look at HT Advisory Services' clients, looking at the businesses and
organizations it works with. The report will reveal the extent to which the business is able to
modify its services to various situations and offer customized solutions by gaining a grasp of
the varied demands and expectations of these clients. The provision of audit and accounting
services may be hampered by obstacles, as with any professional undertaking. In this study,
we'll look at the challenges HT Advisory Services experienced and the solutions they came
up with. The study will provide useful insights into the company's resilience and its capacity
to deal with difficult conditions while ensuring customer satisfaction by examining these
difficulties.
Finally, the study will go through HT Advisory Services' potentials, taking into account its
competitive advantages, market positioning, and potential growth within the audit and
accounting sector. The study will provide insights into the likely future path of HT Advisory
Services and its potential impact on the industry by analyzing the company's strengths and
possibilities. In conclusion, the internship report will present a thorough evaluation of the
audit and accounting services provided by HT Advisory Services. The study attempts to
provide useful insights on the intern's work, the organization's influence, and the wider
context of audit and accounting services by examining the company's operations, services,
issues, and potentials.
1.2 Objectives
To provide an overview for the internship experience at HT Advisory Services and
provide a clear introduction to the internship report.
To provide an in-depth overview of HT Advisory Services, including its industry,
nature, and primary services.
To provide a detailed background of Audit and Accounting services.
To provide a comprehensive picture of my job within the firm by outlining the precise
internship position I held at HT Advisory Services, including the department and team
I was assigned to.
To go over important assignments or tasks that were finished during the internship,
highlighting noteworthy accomplishments and contributions to the organization.
To analyze the services provided by HT Advisory Services.
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To analyze the clients of HT Advisory Services.
To analyze the Challenges of HT Advisory Services.
To analyze the potentials of HT Advisory Services.
To describe the knowledge and skills gained during the internship.
.
HT Advisory Services has established a reputation for quality and has grown to be a reliable
partner for many businesses because of its 20 highly qualified staffs. The company's services
are intended to assist clients in upholding financial integrity and transparency, improving
financial performance, and reducing risks.
The audit and accounting services provided by HT Advisory Services includes auditing,
financial reporting, tax advice, risk management, and financial consulting etc. The company's
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team of experienced professionals brings a wealth of expertise to every engagement, ensuring
that clients receive the highest level of service and support.
One of the key strengths of HT Advisory Services is its global reach. The business can serve
clients from a variety of industries and regions like its locations in Barishal and Dhaka. The
organization is also able to stay current on the most recent market trends and legislative
changes because to its global presence, ensuring that clients always receive the most up-to-
date and pertinent guidance.
HT Advisory Services is dedicated to provide outstanding client service, but it also prioritizes
diversity and inclusion. The business is committed to establishing a workplace that honors
and respects the contributions of all employees because it understands that a diverse
workforce is essential to its success.
HT Advisory Services offers further details about its services, leadership team, and ideals via
its website https://htadvisory.org. The business is always seeking for new ways to use cutting-
edge ideas and technologies to enhance its offerings and provide customers more for their
money.
Additionally, HT Advisory Services has a team of committed experts who stay current on the
most recent business trends and regulatory developments in order to offer clients timely and
pertinent guidance. The company's experts have in-depth knowledge of the sectors they
support, and they collaborate closely with clients to create specialized solutions that answer
their particular demands and issues.
Additionally, HT Advisory Services has established a solid track record for thought
leadership. The business often releases insights on significant industry issues and trends,
assisting clients in staying educated and current with the most recent advancements in their
fields. On the business' website and on its social media pages, these insights are accessible.
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Chapter 02: Background of the Topic
2.1 Introduction
As the business world has evolved at a quick pace, the demand for effective audit and
accounting services has expanded dramatically. Businesses require trustworthy financial
reporting and analysis in order to make sound decisions, follow rules, and gain a competitive
advantage. As a result, there is a greater demand for high-quality audit and accounting
services. This literature review will discuss the importance of audit and accounting services
for businesses, the challenges that organizations have in obtaining these services, and the
future of the audit and accounting industry.
Overall, the purpose of this literature study is to offer readers with a comprehensive picture of
both the larger industry trends and the audit and accounting services supplied by HT
Advisory Services. This allows us to understand more about how crucial these services are to
the success of modern businesses.
External Audit
External audit is the most common type of audit and accounting service. It is the objective
assessment of a company's financial accounts by a third-party auditor. External audits are
undertaken on an annual basis or in accordance with the company's regulatory obligations.
External audits include examining the company's internal controls, assessing whether
accounting laws and regulations are being followed, and determining the truth and
completeness of financial statements.
Firms benefit from external auditing services in a variety of ways. First and foremost, they
lend credibility to a company's financial statements, convincing stakeholders such as
investors and lenders that the information is accurate and reliable. External audits can also
identify areas where the company's financial controls are lacking, allowing management to
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take corrective action. Finally, external audits can detect fraudulent conduct, preventing both
financial loss and reputational injury.
Internal Audit
Internal audit is another critical aspect of audit and accounting services. Internal controls,
methods, and systems of a corporation are objectively examined. Internal audits are
performed by an internal audit team that reports directly to the board of directors or senior
management. Internal audits are performed to assess the effectiveness of internal controls,
analyze the firm's risk management approaches, and ensure that business rules and
procedures are followed.
Internal audits can help businesses in a variety of ways. Initially, they provide an unbiased
assessment of a company's operations, highlighting areas where the organization might
improve its effectiveness and efficiency. Second, internal audits can assist management in
identifying risks and developing plans to mitigate them. Internal audits can also reduce the
risk of fraud and compliance violations by verifying that corporate policies and procedures
are followed.
Financial crime investigation is a special field of audit and accounting services known as
forensic accounting. Forensic accountants use their knowledge of accounting and financial
principles to examine financial data, detect fraud, and provide expert testimony in court
(Alshurafat, Al, and Mansour, 2021). Forensic accounting is the investigation of financial
crimes such as securities fraud, money laundering, and embezzlement.
Forensic accounting services can benefit businesses in a variety of ways. They can detect
financial fraud and then assist firms in retrieving stolen property. Second, they can provide
expert testimony in court, which will benefit the company's case and increase the likelihood
of a successful outcome. Finally, forensic accounting can help organizations tighten their
internal controls and avoid additional financial crimes.
Management Suggestions
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accounting, finance, and business strategy. Management consulting encompasses conducting
market research, developing company strategy, and putting improvement plans into action.
Management consulting services benefit businesses in a variety of ways. They can first aid
organizations in identifying new market opportunities and developing strategies to capitalize
on them. Second, they can improve a company's efficiency and profitability by identifying
possibilities to minimize costs or increase revenue. Finally, management consulting may
provide firms with the expertise and resources they require to remain competitive in a rapidly
changing market.
Financial reporting: Another area of audit and accounting services is financial reporting The
primary goal of financial reporting is to provide stakeholders with accurate and transparent
financial information. This includes investors, creditors, authorities, and other interested
parties. Audit and accounting services are critical to the accuracy, completeness, and
trustworthiness of financial accounts. These services provide assurance that financial
information is presented fairly and in accordance with accounting standards and regulations,
and they aid in the identification of potential errors, omissions, or misstatements in financial
reports.
Risk management: Audit and accounting services also include risk management. Companies
face a number of risks, including operational, reputational, and financial concerns. Effective
risk management is critical for businesses to maintain stability, profitability, and growth
(Sierra, et al., 2019). Companies can utilize audit and accounting services to identify and
evaluate risks, as well as build risk management plans and track the progress of those plans
over time.
Taxation: Taxation is another important aspect of audit and accounting services. Companies
that break tax laws face harsh penalties because they are complex and constantly changing.
Audit and accounting services help firms comply with tax regulations, reduce tax costs, and
identify tax-saving options. These services also aid organizations in developing tax planning
strategies that complement their overall corporate objectives.
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Audit and accounting services are required by businesses for a variety of reasons. First and
foremost, these services help to improve the accuracy and trustworthiness of financial
accounts (Bonyuet, 2020). Accounting professionals can assist in ensuring that financial
statements are prepared in accordance with generally accepted accounting standards by
conducting audits and reviews that can help them detect errors and anomalies in financial
statements. Because investors and lenders rely heavily on financial statements when making
investment or loan decisions, this is especially important for firms that are publicly listed or
seeking financing.
Second, audit and accounting services help businesses comply with applicable rules and
regulations. Accounting specialists can assist in ensuring that the business is in compliance
with the various laws and regulations that apply to businesses because they are aware of
them. This can include ensuring that tax returns are done correctly and on time, financial
statements are created in accordance with current accounting standards, and the company is
in compliance with other regulations, such as those controlling labor or environmental policy.
Another key benefit of audit and accounting services is the ability to identify areas where the
company's financial management systems might be improved. Accounting professionals, for
example, may identify opportunities for cost savings, improved cash flow management, or
tax plan optimization for the company. Accounting specialists can work closely with the
management team to develop strategies and procedures that will help the organization
function more successfully and efficiently.
Audit and accounting services can also ensure the correctness and dependability of the
company's financial statements to stakeholders (Wuttichindanon, and Issarawornrawanich,
2020). Businesses that operate in industries that are heavily regulated or subject to public
scrutiny may find this to be especially important. Audit and accounting services can help to
develop shareholder trust and confidence, as well as protect a company's reputation, by
providing an unbiased examination of its financial statements.
Finally, it should be mentioned that audit and accounting services are critical to a company's
financial management. These services help to ensure that financial statements are accurate
and trustworthy, that the business is operating profitably, and that all applicable rules and
regulations are followed. Accounting specialists may help identify areas where the company's
financial management practices can be improved and can reassure stakeholders that the
company's financial statements are accurate and reliable by working closely with the
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management team. By utilizing audit and accounting services, businesses can benefit from
improved financial reporting, higher regulatory compliance, and increased stakeholder
confidence.
2.4 The challenges that businesses face when seeking auditing and accounting
services.
One of the most critical parts of efficiently managing financial affairs in business. Many
businesses rely on audit and accounting specialists to ensure that their financial affairs are
correctly managed. Despite the numerous benefits of these services, many firms face a
number of challenges while utilizing audit and accounting services.
One of the primary issues that firms face is the cost of using audit and accounting services.
These services can be quite costly, especially for small businesses with limited financial
resources. Even though smaller businesses frequently require these services the most, the cost
of utilizing them can be a significant barrier to entry. According to a survey conducted by the
American Institute of Certified Public Accountants (AICPA), one of the biggest barriers
stopping small businesses from employing audit and accounting services is cost (AICPA,
2018).
When organizations acquire audit and accounting services, they face additional challenges
due to the complexities of the related regulations and standards. Firms may find it
challenging to keep up with changing accounting and auditing rules. Because of its
complexity, there is a possibility that mistakes may be made, which might be costly in terms
of financial penalties and reputational harm. Due to the complexity of the standards,
organizations may struggle to find the right audit and accounting professional with the
necessary skills and experience to manage these obligations.
In addition to the intricacy of the regulations, organizations sometimes struggle to find skilled
audit and accounting specialists. Many businesses struggle to find skilled personnel who can
provide them with the high-quality services they require. The fact that many places have a
serious shortage of accounting and audit personnel complicates matters. The Association of
Chartered Certified Accountants (ACCA) predicts that the global shortage of accounting and
finance expertise will worsen over the next ten years (ACCA, 2020).
Another significant challenge that firms face is a lack of trust in audit and accounting
professionals. Trust is necessary in every professional relationship, but it is especially
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important when it comes to audit and accounting services. Businesses rely on these
professionals to provide them with reliable financial information and assistance, and any lack
of trust in them can lead to the breakdown of this relationship. As a result of recent business
crises such as Enron and WorldCom, the public has lost trust in audit and accounting
specialists. Due to this lack of confidence, firms may find it difficult to obtain audit and
accounting services.
Finally, organizations require audit and accounting services in order to effectively handle
their financial difficulties. However, firms face a variety of challenges when adopting these
services, including cost, complexity, a lack of skilled employees, and a lack of trust in audit
and accounting specialists. Organizations must recognize and address these issues in order to
receive top-tier audit and accounting services to aid in their financial management efforts.
Technology is also influencing how audits are carried out. Using data analytics, for example,
allows auditors to evaluate entire datasets rather than just samples, resulting in a more
comprehensive understanding of the client's financial status. Auditors can also detect
potential hazards and irregularities in real time using cutting-edge analytical tools, which
improves risk management.
Another significant change that is likely to have an impact on the future of audit and
accounting services is the growing need for sustainability and environmental, social, and
governance (ESG) reporting. Non-financial reporting on problems such as diversity, social
effect, and carbon emissions is becoming increasingly relevant to investors and other
stakeholders, in addition to financial performance. As a result, auditors and accountants are
expected to become more involved in reviewing and reporting on ESG metrics, necessitating
the acquisition of new skills and experience.
As the importance of ESG reporting grows, a new reporting framework and standard are
being established. The International Financial Reporting criteria (IFRS) Foundation, for
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example, has launched a new sustainability reporting framework in attempt to provide a set of
internationally agreed reporting criteria for sustainability reporting. This paradigm is likely to
affect future ESG reporting and auditing systems, making them more transparent and
uniform.
Furthermore, the worldwide character of business activities offers significant challenges for
auditors and accountants. Cross-border transactions, foreign tax rules, and cultural differences
make it challenging to provide effective auditing and accounting services. As a result,
auditors and accountants must learn new skills and expertise in order to perform successfully
in this complex and dynamic environment.
Despite these challenges, the audit and accounting business will have several chances in the
future. For example, the increasing need for ESG audits and reporting creates new business
opportunities for accountants and auditors. Auditors and accountants can differentiate
themselves from the competition and provide more value-added services to their clients by
refining their specific abilities and experience in ESG reporting and auditing.
The growing importance of technology and data analytics creates new opportunities for
auditors and accountants to provide more sophisticated and personalized services. Using new
technologies and analytical tools, auditors and accountants may provide their customers with
real-time insights and recommendations that improve corporate performance and risk
management.
Finally, with significant advancements in technology and data analytics, the future of audit
and accounting services is undeniably bright. These advancements will allow auditors and
accountants to provide more effective and precise services, ensuring that businesses have
access to reliable financial data in order to make sound judgments. However, challenges will
be faced in the future by the continued growth of legislation and the demand for new skill
sets. Auditors and accountants must adapt to and stay up with the changing environment in
order to be relevant and valuable to their clients. Overall, the future of audit and accounting
services seems bright, with plenty of opportunities for growth and innovation.
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Chapter 03: Methodologies
3.1 Introduction
For this internship report, secondary data was gathered and analyzed from reliable online
sources, such as academic papers, journals, books, business reports, and industry reports.
Thematic analysis found recurrent themes and ideas, whereas descriptive analysis was used to
arrange and present qualitative data. To guarantee confidentiality, correct citations, and
objectivity in the review, ethical considerations were given top priority. By using these
techniques, this report upholds professional standards and ethics while providing a thorough
overview of the internship experience at HT Advisory Services.
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this report's discussion and reflection of the important observations, as well as its formulation
of pertinent recommendations.
In order to ensure the authenticity and dependability of the material contained in this study,
additional ethical considerations were madeEvery effort was made to ensure that the
information gathered and analyzed came from relevant and respectable sources, including
academic publications, papers, and websites. In order to acknowledge the contributions of
these sources and uphold academic integrity, proper citations and references have been given.
Additionally, the moral implications of carrying out the internship and producing the report
were taken into account. To provide a fair and impartial evaluation of the internship
experience, the organization, and its services, the conversations and analyses contained in this
report were performed impartially and without bias. To guarantee the objectivity and integrity
of the results and conclusions, any potential conflicts of interest were identified and dealt
with accordingly.
Last but not least, the data gathering and internship processes protected the consent and
privacy of all concerned. Any private information people disclosed in interviews or other
encounters was anonymized and used only to create this study, protecting the subjects'
privacy and confidentiality.
This report strives to uphold the highest levels of professionalism, integrity, and respect for
all parties by abiding by these ethical principles, while also offering insightful observations
and analyses regarding the internship experience at HT Advisory Services.
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Chapter 04: Job Description
4.1 Introduction
I'll give an in-depth description of my responsibilities as an Executive at HT Advisory
Services while my internship in this part. I will list the precise tasks, responsibilities, and
positions I held at the company, along with information regarding the division and team I was
assigned to.
4.3 Responsibilities:
I had a lot of responsibilities in the firm. Some of them has been described below:
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comparing them to the recorded inventory, and figuring up product costs based on
numerous components including raw materials, labor, and overhead expenditures
were all included in this.
Internal Audit: I also had the responsibility of conducting internal audits for clients
while working as an Executive at HT Advisory Services. This includes evaluating
their internal controls' efficiency, their risk management procedures, and their
adherence to regulatory requirements (Behrend, and Eulerich, 2019). I extensively
collaborated with the internal audit team to develop and carry out audit procedures
offered to the requirements of every client. I discovered potential hazards, control
flaws, and areas for development by examining financial accounts, transactional
records, and operational procedures. I offered suggestions for improving internal
control systems and reducing operational and financial risks. Working together with
customers, I gave direction on risk management and compliance as well as assistance
in developing strong internal control systems. Through this position, I improved my
analytical abilities and attention to detail while also learning a lot about different
sectors.
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hospital's financial records, operational procedures, and regulatory compliance was
conducted. To find potential hazards, control flaws, and places for improvement, I
examined financial statements, looked over transactional data, and spoke with
relevant individuals. I helped the hospital improve its internal controls, maximize
operational effectiveness, and guarantee adherence to industry standards by offering
takeable recommendations.
Project for Internal Audit of a Real Estate Company: I also worked on an internal
audit project for a prestigious real estate firm, which was a substantial task. With this
study, the company's financial management processes, risk mitigation plans, and
compliance with legal and regulatory standards were all evaluated. I analyzed lease
agreements, reviewed financial transactions in-depth, and evaluated the efficiency of
the business' internal control systems. I strengthened the real estate company's
financial controls, reduced risk exposure, and enhanced overall operational
performance through my study and recommendations.
Prepare a Comprehensive Personal Tax File for Clients: As part of my duties, I
created an in-depth personal tax file for beloved clients. This job required compiling
pertinent financial data, examining the sources of income, and accurately adhering to
tax laws. I carefully went over the client's financial data, found any prospective
credits and deductions, and created the required tax forms. By providing the customer
with an ordered and precise tax file, I made it easier for them to comply with their tax
duties and significantly improved their tax situation.
These tasks and assignments serve as an example of the wide range of duties I handled while
an intern at HT Advisory Services. Each assignment gave me the chance to put my auditing,
financial analysis, and compliance knowledge and skills to use so I could produce measurable
outcomes and benefit the firm. Through these experiences, I was able to improve my
technical skills while also developing a deeper awareness of how accounting concepts are
used in real-world situations and how important internal controls and compliance are in
diverse company contexts.
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Chapter 05: Findings, Discussion and Analysis
5.1 Introduction
In the discussion and analysis part that follows, four crucial HT Advisory Services-related
factors will be thoroughly examined. The investigation will look into the firm's offerings,
including their type, extent, and effect on customers. The varied spectrum of clients handled
by HT Advisory Services across numerous industries will also be evaluated, emphasizing
their importance and unique needs. The difficulties the company faced in providing its
services will also be examined, with a focus on removing any barriers and identifying
opportunities for development. Finally, the analysis will assess HT Advisory Services'
potential while taking into account its industry effect overall, growth opportunities, and future
prospects.
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4. Monthly Financial Compliance Audit: Ensuring financial compliance is crucial for
organizations in today's increasingly complicated regulatory environment. In order to
assist customers in adhering to legal obligations and internal control standards, HT
Advisory Services performs financial compliance audits on a regular basis. To find
potential risks, control gaps, and areas for improvement, these audits involve a
thorough examination of financial transactions, processes, and procedures. HT
Advisory Services assists clients in enhancing their financial governance, reducing
risks, and safeguarding their assets by offering insightful analysis and
recommendations.
5. Payroll and HR Services: It's important for any firm to successfully manage payroll
and human resources. In addition to providing clients with comprehensive payroll and
HR services, HT Advisory Services also handles hiring, staff TDS (Tax Deducted at
Source), and staff wage computations. These services guarantee prompt and correct
payroll processing, adherence to tax rules, and compliance with labor requirements.
Clients may concentrate on their main business operations while HT Advisory
Services takes care of their payroll and HR needs, providing effective and legal
payroll management.
6. Monthly TDS calculation and submission of withholding tax return: For
businesses, tax compliance is a crucial component of financial management. On
behalf of its clients, HT Advisory Services helps with the monthly TDS (Tax
Deducted at Source) calculation and makes sure that withholding tax reports are sent
on time. HT Advisory Services assists customers in adhering to tax duties and
reducing the risk of fines or legal problems by remaining current with changing tax
legislation and standards.
7. MIS Customized Reports: Management Information System (MIS) reports are
essential for providing decision-makers with critical performance indicators and data
analysis. The MIS reports provided by HT Advisory Services are specifically crafted
to meet the demands of each client firm. These reports give comprehensive data on
operational metrics, financial performance, and other important factors.
8. Monthly Bank Reconciliation: The quality and consistency of financial records and
bank statements are guaranteed by the crucial financial control process of bank
reconciliation. HT Advisory Services offers monthly bank reconciliations for clients,
comparing transactions shown on bank statements with those recorded in the
accounting system. HT Advisory Services assists clients in maintaining accurate
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financial records and promotes prompt decision-making based on trustworthy
financial information by discovering discrepancies, balancing accounts, and
addressing any concerns.
9. Half-Yearly Internal Financial Audit: Internal audits are essential for determining
how well internal controls are working, identifying areas for improvement, and
confirming that financial rules and procedures are being followed. Internal financial
audits are conducted by HT Advisory Services every six months to evaluate the client
organizations' internal control frameworks.
10. Annual company Tax and Withholding Tax Returns: HT Advisory Services helps
clients submit their company tax and withholding tax returns on time each year. The
company keeps up with the most recent tax laws and procedures, ensuring precise tax
liability calculations and the correct filing of tax forms. HT Advisory Services assists
clients in meeting their tax requirements, reducing the possibility of mistakes or fines,
and maintaining a good status with tax authorities by managing the tax compliance
process.
11. Annual RJSC Return Submission: In addition to their tax duties, businesses must
also abide by the laws governing their registration and reporting. HT Advisory
Services helps clients submit their annual returns to the RJSC on time.
12. Annual Staff Tax Calculation and Individual Tax Return Submission: HT
Advisory Services helps with staff tax calculations and makes it easier for employees
to submit their individual tax returns. HT Advisory Services makes sure that
employees are in compliance with tax laws and reduces the likelihood of tax-related
problems by precisely computing staff taxes while taking into account relevant
deductions and exemptions.
13. Support during External Audits and Tax Office Representation: HT Advisory
Services assists customers throughout external audits and advocates for them before
tax offices. The company helps clients get ready for external audits by making sure
the necessary paperwork and data is available. HT Advisory Services additionally
serves as a point of contact for clients and tax authorities, promoting effective
communication and the settlement of tax-related issues. HT Advisory Services assists
clients in navigating the difficulties of dealing with external audits and relations with
the tax office by offering qualified representation.
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To meet the various financial management and consulting needs of client businesses, HT
consulting Services offers a comprehensive range of services. HT Advisory Services assists
clients in streamlining their financial operations, enhancing regulatory compliance, and
achieving sustainable growth by using their understanding of the industry, expertise, and
innovative technologies. As a trusted partner in providing complete financial management
solutions, HT Advisory Services is dedicated to excellence and customer satisfaction.
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5.3 Clients of HT Advisory Services
HT advice Services offers complete financial management and advice solutions to a wide
range of clients in a variety of industries. While the specific names of clients are confidential
information, the following is a list of industries in which HT Advisory Services operates and
serves clients:
The industries that HT Advisory Services works with are just a few examples. With a
focus on maintaining client privacy and a dedication to providing customized financial
solutions, HT Advisory Services continues to forge enduring relationships with clients
from a range of industries. HT Advisory Services offers sector-specific expertise and
support, enabling clients to achieve their financial goals and promote sustainable growth,
by understanding the particular requirements and difficulties faced by each industry.
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5.4 Challenges faced by HT Advisory Services
HT Advisory Services, like any organization, faces certain challenges and limitations in
delivering its audit and accounting services. These challenges can arise from both internal
and external factors and may impact the overall efficiency and effectiveness of their services.
Some of the key challenges or limitations faced by HT Advisory Services include:
Client Expectations and Demands: Each client has unique expectations and demands based
on their industry, size, and specific circumstances. HT Advisory Services must effectively
manage client expectations, ensuring clear communication and understanding of deliverables.
Failure to meet client expectations can result in dissatisfaction and the potential loss of
clients.
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Client Confidentiality and Data Security: HT Advisory Services handles sensitive financial
information, and maintaining client confidentiality and data security is of utmost importance.
With the increasing risk of cyber threats and data breaches, HT Advisory Services must
implement robust security measures to protect client data and ensure compliance with data
protection regulations.
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5.5 Potential of HT Advisory Services
The well-known firm HT Advisory Services, which specializes in financial management and
advisory services, has a lot of potential to grow and succeed in the market. The firm has the
ability to negotiate the complicated world of financial management, adjust to market changes,
and capture new possibilities by its knowledge, broad variety of services, and dedication to
quality. In this section, we'll examine HT Advisory Services' potential while highlighting the
crucial elements that have contributed to its development and success.
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service delivery, gives clients timely insights, and offers practical suggestions for
enhancing their financial management procedures.
5. Trust from Customers: The firm's potential is further enhanced by the trust its
customers have placed in it. HT Advisory Services has a history of meeting client
expectations, providing top-notch financial management and consulting services, and
preserving client confidentiality. The company builds trust and fosters long-lasting
relationships with its clients by consistently providing value and providing excellent
customer service (Lisic, et al., 2019).
6. Talent Acquisition and Retention: HT Advisory Services is aware of the direct
relationship between its potential and its brilliant employees. The company makes
investments in talent development initiatives, provides chances for professional
advancement, and promotes a positive workplace culture. HT Advisory Services
cultivates a pool of expertise that contributes to company success and promotes an
innovative culture by drawing in and keeping talented employees.
HT advice Services has a lot of room to expand and succeed in the financial management and
counsel area, to sum up. The company has the potential to capitalize on new opportunities,
face challenges, and establish itself as a top provider of comprehensive financial management
and advisory services due to its market adaptability, expansion possibilities, strategic
partnerships, and focus on continuous improvement, reputation, and talent development
initiatives.
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Chapter 06: Recommendations
To further enhance its services, HT Advisory Services can consider the following
recommendations:
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improve the depth and breadth of their offerings, allowing them to better serve clients
and stay ahead in a competitive market.
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Chapter 07: The skills and knowledge gained through the BBA
internship program
I obtained significant skills and information through my participation in the BBA internship
program at HT Advisory Services, which has considerably contributed to my professional
progress and prepared me for a successful future in the audit and accounting area. The
curriculum has given me actual experience and exposure to real-world business problems,
allowing me to apply theoretical principles in real-world situations.
Understanding of financial analysis and reporting: One of the most important skills I
gained during the BBA internship program was a thorough understanding of financial
analysis and reporting. I learnt how to examine financial statements, spot trends, and
comprehend crucial financial indicators. This ability has been critical in assessing clients'
financial health and delivering correct insights and recommendations Furthermore, the
internship has assisted me in developing strong analytical abilities, allowing me to critically
evaluate complex financial facts and generate significant conclusions. I've learnt to identify
potential areas of concern and provide acceptable remedies through duties including data
analysis, risk assessment, and internal control evaluation. This skill set is required for
effective audit and accounting decision-making and problem-solving.
Effective communication and interpersonal skills: The BBA internship program has also
emphasized effective communication and interpersonal skills. I've enhanced my capacity to
explain ideas, actively listen, and cooperate successfully through encounters with clients,
team members, and senior professionals. These abilities have enabled me to form strong
bonds, develop trust, and contribute to effective teamwork. Furthermore, the curriculum has
given me hands-on exposure with accounting software and technology tools that are routinely
utilized in the field. I've learned how to use software for financial analysis, data management,
and reporting. This hands-on technology experience has improved my productivity, accuracy,
and adaptability in managing a variety of accounting jobs.
Ethical behavior and professionalism: Throughout the BBA internship program, ethical
behavior and professionalism have been emphasized. In the audit and accounting professions,
I've learned the value of integrity, confidentiality, and professional standards. By following
ethical standards and industry rules, I have laid a solid basis for future professional trust and
confidence. Furthermore, the program has provided me with opportunity to improve my
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leadership and project management skills. I've been given tasks like directing internal audit
engagements, managing client relationships, and collaborating with team members. This
experience to leadership responsibilities has improved my ability to manage resources
efficiently, prioritize projects, and deliver high-quality products on time.
Overall, the BBA internship program at HT Advisory Services presented me with a broad
skill set as well as in-depth knowledge of audit and accounting methods. It has provided me
with a platform to apply academic principles to real-world problems, promoting my
professional development and preparing me for a successful career in the business. I am
certain that by combining technical expertise, analytical skills, good communication, and
ethical behavior, I will make a positive impact in the field of auditing and accounting and
contribute to the success of HT Advisory Services.
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Chapter 08: Conclusion
I have learned a lot about financial management and advisory services throughout my
internship with HT Advisory Services, and I feel like I have gotten a lot out of it. By
providing an overview of the internship experience, a detailed look at HT Advisory Services,
a discussion of the history of audit and accounting services, a detailed look at my role within
the company, highlighting significant assignments and accomplishments, an analysis of the
services and clients of HT Advisory Services, an examination of the firm's challenges and
potentials, and a description of my job, this internship report has successfully met its
objectives.
The HT Advisory Services internship program has been rewarding and interesting. I've been
able to experience the business world directly and put my theoretical knowledge to use in
real-life situations. I was given the chance to work with a group of competent individuals,
including a manager and a supervisor who offered direction and mentoring during the
internship. I've gained useful knowledge about the dynamics of the accounting and financial
services industries due to this encounter. I have actively contributed to the growth of the
company during my time at HT Advisory Services by completing numerous assignments and
responsibilities with commitment and accuracy. The successful completion of a six-year
internal audit project for a hospital, an internal audit project for a real estate company, and the
creation of a client's personal tax file are noteworthy accomplishments. These experiences
have improved my technical abilities and shown that I can evaluate complex financial data,
assure regulatory compliance, and give clients accurate financial insights.
I now have a better grasp of the wide range of financial management and consulting solutions
that HT Advisory Services provides because of an analysis of its services. These offerings,
which include software-based bookkeeping, monthly financial reporting, payroll and HR
services, and annual tax return submissions, demonstrate the firm's dedication to providing
thorough and customized solutions to match each client's particular needs. HT Advisory
Services maintains its position as a leader in the sector by routinely evaluating and improving
the range of services it offers. Analyzing the challenges that HT Advisory Services has
encountered, it is clear that the company's agility, strategic alliances, and focus on continuous
improvement are major contributors to its capacity to meet obstacles and capture
opportunities. The company's dedication to market adaptation, strategic partnerships, and a
skilled personnel highlight its potential for growth and success.
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In conclusion, working as an intern at HT Advisory Services has greatly improved my
knowledge, abilities, and comprehension of the financial management and consulting sector. I
am grateful to the chances and encounters I had while doing this internship. My experience at
HT Advisory Services has equipped me with the information and abilities I need to take on
new challenges and advance my career in the accounting and financial services industries. I
want to sincerely thank the company, my coworkers, and my supervisors for their advice,
encouragement, and mentorship throughout my internship experience.
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Chapter 09: References
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Furqan, A.C., Wardhani, R., Martani, D. and Setyaningrum, D., 2020. The effect of audit
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