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Audit |
Broadly, Audit involves the following :
- In depth 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/Ind-As.
- 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.
- VAT Audit under MVAT Act
- GST Audit
- Audit of Charitable Trusts, Schools etc.
- Audit of Co-operative Societies
- Internal Audit.
- Statutory Audit of Banks.
- Special Monitory Account Audit
- Forensic Audit
- Investigation and Due Diligence
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