Broadly, Audit involves the following :

• • Indepth study of existing systems, procedures and controls for proper understanding. Suggestions for improvement and strengthening.
• • 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.