Broadly, Audit involves the
- 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
- Detection and prevention of
leakages of income and suggesting corrective measures to prevent
- Certification of the books of
account being in agreement with the Balance Sheet and Profit and Loss
- Issue of Audit Reports under
Types of Audits conducted :
- Statutory Audit of Companies.
- Tax Audit under Section 44AB of
the Income Tax Act, 1961.
- GST Audit under GST Act
- VAT Audit under MVAT Act
- Audit of Charitable Trusts,
- Audit of Co-operative Societies
- Audit of Hospitals
- Audit of Tourism &
- Internal Audits.
- Statutory Audits of Banks.
- Investigation and Due Diligence