Audit in Hindi means “Lekha Pariksha”. An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organisation to ascertain how far the financial statements as well as non-financial disclosures present a true and fair view of the concern. It also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. Auditing is a safeguard measure since ancient times (Loeb & Shamoo,1989). Audits provide third party assurance to various stakeholders that the subject matter is free from material misstatement.
- Statutory Audit under The Companies Act’2013, Internal Audit and Management Audit of - Garments, Textiles, Steel, Automobile, Software, FMCG, Consultancy and Other Manufacturing and service sector companies.
- Goods and Service tax (GST) Audit - on exceeding prescribed threshold limit (presently Rs. 2 crore) under section 35(5) of CGST Act 2017 and Rule 80(3) of CGST Rules 2017 Or as nominated by Commissioner GST under section 66 of CGST Act 2017.
- Financial Due Diligence - Involves an investigative analysis of business to identify key financial risks and others issues in business and drivers behind maintainable profits and cash flows, having impact on transactional values. Experience of Hotel Industry and FMCG companies
- Internal Financial Control (IFC) Audit - of the policies and procedures adopted by the company to ensure orderly and efficient conduct of business including adherence to company’s policies, safeguarding assets, prevention and detection of frauds and errors, accuracy and completeness of the accounting records, and timely preparation of reliable financial information.
- Bank Audits - Revenue Audit, Concurrent Audit and Statutory Bank Branch Audit.
- Income Tax Audit under section 44AB of Income Tax Act 1961.
- Certification Services and Extensible Business Reporting Language (XBRL) Compliance.