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  News & Events
 
18/01/2020
Online payment facility न देने पर Income Tax Dept. लगाएगा भारी जुर्माना!
IBBI amends voluntary liquidation process regulations
SEBI comes out with disclosure format for listed debt securities
17/01/2020
Income Tax notice for Rs 3.5 Cr penalty leaves BPO employee Shocked
16/01/2020
Pass percentage and Toppers of CA Final Nov 2019 Exam
15/01/2020
RBI issues new debit and credit card rules to improve convenience and security
Govt saves Rs 350 Cr fake IGST refund due to untraceable of over 1200 exporters
High Court Decision on Communication or NOC from Previous Auditor
Budget may make faking input tax non-bailable crime for buyers too
HC clears confusion over contentious issue of composite supply under GST
CCI orders probe against Amazon, Flipkart over discount practices
14/01/2020
SC exempts retrospective petitions from IBC amendment
SEBI defers deadline to split chairman & MD post by 2 years
CBI arrests insolvency resolution professional in case of Bribe
Government may address inverted duty structure in Budget
ICICI Bank seeks recovery of amounts from Chanda Kochhar
CA Intermediate and Foundation Nov.Exams Result to be declared on 3rd/4th Feb 2020
 
 
  Notification/Circulars
16/01/2020
Reporting of Large Exposures to Central Repository of Information on Large Credits (CRILC) – UCBs
15/01/2020
Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions, 2018 - Amendment
Enhancing Security of Card Transactions
14/01/2020
Appointment of Revisional Authority | CGST Act, 2017 | Section 108
11/01/2020
Extention of due date to file GSTR1 returns without late fees
Framework for imposing monetary penalty on authorised payment system operators / banks under the Payment and Settlement Systems Act, 2007
10/01/2020
Processing of e-mandate in Unified Payments Interface (UPI) for recurring transactions
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.