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Audit

  • Broadly, Audit involves the following :

  • Indepth study of existing systems, procedures and controls for proper understanding.  Suggestions for improvement and strengthening.

  • Ensuring compliance with policies, procedures and statutes.

  • Comprehensive review to ensure that the accounts are prepared in accordance with Generally Accepted Accounting Policies and applicable Accounting Standards / IFRS.

  • Checking the genuineness of the expenses booked in accounts.

  • Reporting inefficiencies at any operational level.

  • Detection and prevention of leakages of income and suggesting corrective measures to prevent recurrence. 

  • Certification of the books of account being in agreement with the Balance Sheet and Profit and Loss Account.

  • Issue of  Audit Reports under various laws.

Types of Audit Conducted

  • Statutory Audit of Companies

  • Tax Audit under Section 44AB of the Income Tax Act, 1961.

  • Audit under other sections of the Income Tax Act, 1961 such as 80HHC, 80-IA, etc.

  • Concurrent Audits.

  • Revenue Audit of Banks.

  • Branch Audits of Banks.

  • Audit of PF Trusts, Charitable Trusts, Schools, etc.

  • Audit of Co-operative Socities.

  • Information System Audit

  • Internal Audits.

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