AUDIT

Broadly, Audit involves the following :

• Indepth study of existing systems, procedures and controls for proper understanding.  Suggestions for improvement;
• 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;
• Checking the genuineness of expenses booked in accounts;
• Reporting inefficiencies at 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 Societies.
• Information System Audit .
• Internal Audits.
• Transaction Audits.
• Forensic Audits.