AUDIT :-  
  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 Cost Audit of Companies.
  • Special  Audit under Section 14A and 14AA of the Central Excise Act,1944.
  • Special Audit under Section 58A of the Delhi Value Added Tax(Amendmend) Act,2005.
  • COTPA Audit of Tobacco Company
  • Inventory Audit
  • Concurrent Audits.
  • Revenue Audit of Banks.
  • Branch Audits of Banks.
  • Audit of PF Trusts, Charitable Trusts, Educational Instituions, etc.
  • Audit of Co-operative Socities.
  • Information System Audit .
  • Internal Audits.
179341 Times Visited