Audit


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Audit

Types of Audits conducted

Statutory Audit of Companies
Tax Audit under Section 44AB of the Income Tax Act, 1961.
Audit of Bank Branches.
Audit of Charitable Trusts, Educational Institutions, PF Trusts etc.
Internal Audits.

Broadly, Audit involves the following :

Checking the genuineness of the expenses booked in accounts.
Detection and prevention of leakages of income and suggesting corrective measures to prevent recurrence.
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.
Issue of Audit Reports under various laws.
Reporting inefficiencies at any operational level to the Management.