Audit and Assurance

Audit is an independent examination of an organization financial records and operations. The purpose of an audit is to provide assurance to stakeholders, such as shareholders, creditors, and regulatory agencies, that the organization financial statements are accurate and provide a fair representation of its financial performance and position.

Audits can be conducted for various reasons, such as to comply with legal and regulatory requirements, to detect fraud or mismanagement, or to provide assurance on the effectiveness of an organization internal controls. Audits can be performed by internal or external auditors, depending on the needs of the organization.

The audit process typically involves the examination of an organization financial records, including its income statements, balance sheets, and cash flow statements, as well as its operations and processes. The auditor uses various auditing techniques, such as testing transactions, reviewing documentation, and evaluating internal controls, to gather evidence to support the conclusions in their audit report.

The outcome of an audit is a written report, which summarizes the auditor findings and provides an opinion on the accuracy of the organization financial statements. A positive audit opinion provides assurance to stakeholders that the financial statements are accurate, while a negative opinion indicates that there are material inaccuracies or deficiencies in the financial statements or internal controls.

Our services include:

• 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