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 Audits 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 .
  • Propreitory Audits and Internal Audits.
  • Statutory and special audit of Charities, Autonomous bodies under respective Charities and Trade Act.
  • Tax Audits, Enviromental Audit, Cost Audit, Social and Energy Audit, Healthcare Audit.
  • Management/ Operational Audit.
  • Special Audit relating to business Reconstructions, Reorganizations, Mergers Liquidations and Bankruptcies.
  • Internal and Concurrent Audit of Banks and Financial Institutions.

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