IN GENERAL, AUDITING ENCOMPASSES THE FOLLOWING ASPECTS:
- A comprehensive analysis is conducted on current systems, procedures, and controls to gain a thorough understanding. Recommendations are then provided to enhance and reinforce these elements.
- Verifying adherence to policies, procedures, and statutes.
- Thorough examination to verify that the accounts are prepared in alignment with Generally Accepted Accounting Policies and relevant Accounting Standards/IFRS.
- Examining the authenticity of the expenses recorded in the accounts.
- Notifying about inefficiencies at any operational level.
- Identifying and preventing income leaks while proposing corrective measures to avoid future occurrences.
- Attesting that the books of accounts are in harmony with the Balance Sheet and Profit and Loss Account.
- Issuance of Audit Reports in compliance with diverse laws.
VARIOUS TYPES OF AUDITS CONDUCTED INCLUDE:
- 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 Societies.
- Information System Audit.
- Internal Audits.