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News / Events
02/11/2024
GST records second highest collection at Rs. 1.87 lakh Cr in October 2024
30/10/2024
CBI files charge sheet against principal commissioner of Income Tax in bribery case
29/10/2024
Barring of GST Return on expiry of three years - GSTN
28/10/2024
Top Auditors, Consultants back NFRA's tighter group Audit Norms; Notification Soon
Indians lost Rs 120 Cr in digital arrest frauds in January-April 2024
26/10/2024
Fake Company in Auto Driver’s Name, DGGI Unearths Rs 8,000 Cr Scam
Extension of Due Date for furnishing Return of Income for A.Y. 2024-25.
Notifications/Circulars
29/10/2024
Directions for Central Counterparties (CCPs)
18/10/2024
Reserve Bank of India (Access Criteria for NDS-OM) Directions, 2024
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
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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