Audit & Assurance Services
Audit and assurance services involve an independent and systematic examination of financial information, underlying records and internal systems to enhance the reliability of financial statements and compliance with applicable laws. The audit process includes evaluation of internal controls, review of accounting policies and verification of books of account with reference to relevant source documents such as bills, vouchers and supporting records, in order to assess the appropriateness of recording and classification of transactions, including expenses booked in the accounts.
As part of the audit, areas of control weakness, revenue leakages or operational inefficiencies, if observed, are identified and suitably reported, along with suggestions for corrective measures and process improvements to strengthen internal controls. Audit assignments also include verification of financial statements with underlying records and issuance of audit reports and certifications as required under various statutes. All audit and assurance services are carried out in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India and other applicable regulatory requirements.
Areas of Professional Support:
- Statutory audit of companies, firms and trusts
- Tax audit under Section 44AB of the Income-tax Act 1961
- Internal audit and concurrent audit
- Audit of co-operative societies and co-operative banks
- Bank branch and revenue audits
- Audit of charitable trusts, educational institutions and PF trusts
- Information system audit and stock audit
- GST audit and certification, where applicable
- Independent financial audit assignments
All audits are conducted in accordance with the Standards on Auditing issued by ICAI.
