AUDIT

Broadly, audit involves the following:

• In depth 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 financial statements prepared from the books of 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.
• Concurrent Audit of Banks.
• Branch Audits of Banks.
• Audit of Charitable Trusts.
• Audit of Co-operative Socities.
• Internal Audits.
• Revenue Audit.
• Stock Audit.