Audit Services The Professional Services extend to

Audit Services

In the Audit segment

The professional services extend to:

• Corporate Statutory Audits under the Companies Act, 2013.
• Statutory Audits under other legislative provisions like Tax Audits.
• Statutory, Concurrent & Revenue Audits of Bank Branches.
• Internal Audits of Corporate entities under the statutory requirements and also as per the special assignments.
• Management Audit.
• Information System Audit.

Other than the audits

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.
• 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.