Audit and Assurance
Broadly, Audit involves the following :
In-depth 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.
Audits Services includes :
Central Statutory Audit of PSU and Co-operative Banks
Statutory Audits of Companies ( Govt. Enterprise, Private, MNC)
Tax Audit under Section 44AB of Income Tax Act, 1961
Audit under other sections of the Income Tax Act, 1961 viz. 80HHC, 80 IA etc.
Internal Audits of Govt. undertakings and Private Companies
Branch Audits of Banks ( Statutory and Concurrent)
Stock Audits for borrowers of Banks / Financial Institution/ NBFC
Revenue Audits of Banks
Audit of Trusts, Charitable Institutions, NGO, Schools, Hospitals etc.
Audit of Co-operative Credit Societies and Housing Societies
Information System Audits
VAT and Service Tax Audits
Assurance Assingments for Systems, Process and Fraud detection
Management Audits
Transfer Pricing Audits
Compliance Audits
Bank Security Verification
Valuation
Certifications