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.
  • GST Audit under GST Act
  • VAT Audit under MVAT Act
  • Audit of Charitable Trusts, Schools etc.
  • Audit of Co-operative Societies
  • Audit of Hospitals
  • Audit of Tourism & Hospitality Industries
  • Internal Audits.
  • Statutory Audits of Banks.
  • Investigation and Due Diligence