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News / Events
17/10/2024
CBDT issues Form 12BAA to tell employer about other taxes paid by you
ICAI’s New Standards are Legally Void - NFRA
SC Unveils New Lady of Justice Statue without Blindfold, Holding Constitution
15/10/2024
GSTN Important advisory for GSTR-9 / 9C
GST Advisory on IMS - GSTN
14/10/2024
New GST Provision for Metal Scrap Transactions - GSTN Advisory
12/10/2024
NFRA Slaps Penalty of Rs 2 Cr on Auditors of Cafe Coffee Day, Debars CAs
11/10/2024
SEBI extends deadline for direct pay out of securities to client account to Nov. 11, 2024
Notifications/Circulars
11/10/2024
Facilitating accessibility to digital payment systems for Persons with Disabilities - Guidelines
10/10/2024
Submission of information to Credit Information Companies (CICs) by ARCs
Implementation of Credit Information Reporting Mechanism subsequent to cancellation of licence or Certificate of Registration
09/10/2024
Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit
04/10/2024
Due diligence in relation to non-resident guarantees availed by persons resident in India
01/10/2024
Directions - Compounding of Contraventions under FEMA, 1999
Audit

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.
 
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