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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
23/09/2017
Investment by Foreign Portfolio Investors in Corporate Debt Securities
21/09/2017
Lending to non-corporate farmers – System wide average of last three years
Trade Repository for OTC Foreign Exchange and Interest Rate Derivatives
19/09/2017
Extension of time limit for submitting the declaration in FORM GST TRAN-1
16/09/2017
Export Data Processing and Monitoring System (EDPMS) Issuance of Electronic Bank Realisation Certificate (eBRC)
GST Registration exemption to casual taxable person supplying handicraft goods
CBEC Notifies section 51 of the CGST Act, 2017 for TDS
CBEC notifies rules for filing Revised GST TRAN-1
Due date for Payment of GST & file Form GSTR 3B for Aug-Dec 2017 notified
13/09/2017
CBEC notifies revised rates of compensation cess on various motor vehicles
Revised Time limit to file GSTR-6 by Input Service Distributor notified - CBEC
CBEC Notification extending time limit for filing of GSTR-1, 2, 3
GST on Charitable and Religious Trusts
 
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