- 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/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.
- Internal Audits of Companies.
- Audit of PF Trusts, Charitable Trusts, Schools, etc.
- Concurrent Audits of Companies & Bank Branches.
- Revenue Audit of Bank Branches.
- Branch Audits of Bank Branches.
- Information System Audit of Companies & Bank Branches.
- Audit of Co-operative Societies.
Management / Internal Audits
- Independent assessment of systems, controls and procedures to check efficiency, keeping the client’s business needs in focus.
- Constructive and objectives review of operations with a view to improve all round efficiency.
- Identification of areas of Cost Reduction and Revenue Optimization, along with assistance in implementation.
- Confirmation of proper compliance with the various statutory and regulatory provisions and operational manuals.
- Use of Statistical Techniques and use of internationally accepted audit methodologies.
Statutory / Tax Audits
- Review of Internal Control System.
- Verification of Books of Account.
- Physical Verification of Assets.
- Use of Statistical Techniques and use of Internationally accepted audit methodologies to ascertain whether financial statements give a “True and Fair” view.
- Preparation of audited accounts to comply with various Accounting, Auditing and Reporting Standards.