Audit

Broadly, Audit involves the following :

• Issue of  Audit Reports under various laws.
• Reporting inefficiencies at any operational level.
• Ensuring compliance with policies, procedures and statutes.
• Checking the genuineness of the expenses booked in accounts.
• 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.
• Indepth study of existing systems, procedures and controls for proper understanding.  Suggestions for improvement and strengthening.
• Comprehensive review to ensure that the accounts are prepared in accordance with Generally Accepted Accounting Policies and applicable Accounting Standards/IFRS.

Types of Audits conducted

• Internal Audits.
• Concurrent Audits.
• Branch Audits of Banks.
• Revenue Audit of Banks.
• Information System Audit .
• Statutory Audit of Companies.
• Audit of Co-operative Socities.
• Audit of PF Trusts, Charitable Trusts, Schools, etc.
• 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.