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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.
 
 
News & Events
 
Notification/Circulars
17/01/2018
Disclosures by Insolvency Professionals and other Professionals appointed by Insolvency Professionals conducting Resolution Processes
Fees payable to an insolvency professional and to other professionals appointed by an insolvency professional
12/01/2018
Interest rates for Small Savings Schemes - RBI
10/01/2018
7.75% Savings (Taxable) Bonds, 2018 - Amendments
06/01/2018
Insolvency professional not to outsource his responsibilitie
Insolvency professional to ensure compliance with provisions of the applicable laws
Insolvency professional to use Registration Number and Registered Address in all his communications.
05/01/2018
Submission of Financial Information to Information Utilities
Refinancing of External Commercial Borrowings
XBRL Returns – Harmonization of Banking Statistics
Master Direction – Foreign Investment in India
 
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