Audit


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AUDITS

Internal Audits :
The Firm assists clients with the internal audit function, providing comprehensive year round internal audit procedures, which go well beyond routine transaction testing with focus on the effectiveness of the internal control environment and risk management. The Company has assignments for internal audit of various clients ranging from big corporate to proprietorship Firms.

Statutory Audits :
The Firm also has strength of its clients in Statutory Audit under Companies Act, Income Tax Act (Audit U/s 44AB), Societies Registration Act, Co-operative Societies Act and Government Fund Audits.

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.