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Audit and Assurance |
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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
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