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.

Types of Audits conducted :

• Statutory Audit of Companies
• Tax Audit under Section 44AB, 44AD, 44ADA & 44AEof the Income Tax Act, 1961.
• Audit under other sections of the Income Tax Act, 1961 such as 142(2A) etc.
• Audit of Co-operative Societies.
• Concurrent Audits.
• Revenue Audit of Banks.
• Branch Audits of Banks.
• Due Diligence Audit for Banks
• Stock Audit for Banks
• Audit of PF Trusts, Charitable Trusts, Schools, Clubs, Societies etc.
• Internal Audits.
• Investigative Audit
• Forensic Audit
• Management Audit
• Social Audit
  And - Assurance, Certification, Attestation, Review, Compilation, Inspection etc….