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Audit Services
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.
- Internal Audits.
