• banner
  • banner
  • banner
 
News / Events
18/09/2018
SEBI approves new KYC norms for FPIs
Government notifies withholding tax waiver for masala bonds
17/09/2018
21 Lakh directors may get another chance to adhere to KYC rules
Dena Banl, Vijaya Bank, BoB to merge to form India's 3rd largest Bank
Exam, Pattern & Syllabus for GST Practitioners
16/09/2018
21 lakh company directors fail to register for eligibility
Suggestions/feedback on evaluation of examination answer books system - ICAI
14/09/2018
Consultation process on for finalising NFRA technical rules
NCLT/NCLAT shouldn't interfere in insolvency resolution proceedings - SC
United Bank of India increases MCLR by 5 basis points
SEBI may allow foreign entities in commodity markets
13/09/2018
TDS/TCS provisions under GST to come into effect from Oct 1
Auditor who exposed Harshad Mehta scam to do forensic audit of Amrapali
Notifications/Circulars
14/09/2018
Amendment to Schedule –V of the Companies Act 2013
TCS provisions under GST effective from 01/10/2018
TDS provisions under GST effective from 01/10/2018
CBIC notifies GSTR – 9C – Reconciliation Statement & Certification
Levy of GST on Priority Sector Lending Certificates (PSLC)
11/09/2018
Extended due date to file Form GSTR-1 if T.O. up to Rs 1.5 crores
Extended due date to file Form GSTR-1 if T.O. more than Rs 1.5 crores
CBIC extends due date for filing of FORM GSTR-3B for newly migrated taxpayers
Due date to file FORM GSTR-3B for newly migrated taxpayers
Due date to file FORM GSTR-3B for recently migrated taxpayers
Extension of Due date of TRAN-1 and TRAN-2
08/09/2018
Amendments to Reserve Bank of India (Note Refund) Rules, 2009
05/09/2018
E-way bill in case of storing of goods in godown of transporter
Processing of GST refund applications of Canteen Stores Department
CBIC clarification on 7 GST Refund Related Issues
Recovery of arrears of wrongly availed CENVAT credit & inadmissible transitional credit
Principal-agent relationship in context of Schedule I of CGST Act
CBIC extends time limit for making declaration in FORM GST ITC-01
CBIC waives late fee for specified classes of taxpayers for Form GSTR-3B, GSTR-4 & GSTR-6
CBIC extends time limit for making declaration in FORM GST ITC-04
Annual GST Return Forms notified by CBIC
01/09/2018
Govt Notifies Rule 11UAB for determination of fair market value for inventory
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 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 Socities.
  • Information System Audit
  • Internal Audits.