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  News & Events
 
12/02/2025
Centre Govt cannot Impose Service Tax on Sale of Lotteries
11/02/2025
GST evasion of Rs.1.88 lakh Cr detected by CGST officers during April-Dec 2024
10/02/2025
SEBI mulls changes in Secretarial compliance report format, Auditors' appointment norms
HC rejects pleas by CAs, Audit firms against NFRA’s Powers
08/02/2025
Biometric-Based Aadhaar Authentication & Document Verification for GST Registration Applicants of Maharashtra & Lakshadweep
07/02/2025
CBI Files Case Against 3 Tax Officials, 5 CAs for trying to Sabotaging Faceless Tax Scheme
RBI cut Repo Rate by 25 basis points to 6.25%
GST Advisory On E-Way Bill Generation for Goods Under Chapter 71
 
 
  Notification/Circulars
11/02/2025
All Agency Banks to remain open for public on March 31, 2025 (Monday)
07/02/2025
Master Direction - Reserve Bank of India (Access Criteria for NDS-OM) Directions, 2025
Change in Bank Rate
Standing Liquidity Facility for Primary Dealers
Liquidity Adjustment Facility - Change in rates
31/01/2025
Framework for imposing monetary penalty and compounding of offences under the Payment and Settlement Systems Act, 2007
30/01/2025
Clarification on applicability of late fee for delay in furnishing of FORM GSTR-9C- reg.
29/01/2025
Mandatory additional qualifiers in import/export declarations in respect of Synthetic or Reconstructed Diamonds–reg.
Private Placement of Non-Convertible Debentures (NCDs) with maturity period of more than one year by HFCs – Review of guidelines
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.