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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 Audits conducted
- Statutory Audit of Companies
- PSU Audits
- Tax Audits under Section 44AB of the Income Tax Act, 1961.
- Audit & under other sections of the Income Tax Act, 1961
- Concurrent Audits.
- Central Statutory Audits of Banks in Public Sector / Private Sector / RRBs / UCB’s / Other Co-operatives
- Revenue Audit of Banks.
- Statutory 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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