Audit and Attestation services are meant to incorporate ideal practices that are customized in accordance with the capacity of an organization. Complicated issues like applicability of Indian Accounting Standards are verified and checked as per the applicability. Audit stratagem stresses on an in-depth understanding of operations of client related to accounting, production, administration and commercial ideology.

 

Statutory Audits

Statutory Audit of financial statements is meant to provide reasonable assurance about accounts have been prepared in accordance with the Generally Accepted Accounting Principles and are fairly not having any discrepancies and errors.

 

Tax Audit

Tax Audit is conducted under Income Tax Act, 1961, in regard to checking and verification of books of accounts under income tax compliances. Further, audit is conducted so that to issue Tax Audit Report for truth and correctness of the Balance Sheet and Profit & Loss Account.

 

GST Audit

GST Audit is conducted under Goods and Service Tax Act, 2017, in regard to verification of compliances under GST. Furthermore, checking and verification of true payment of taxes and correct availing of Input Tax Credits.

 

Internal Audits

Internal Audit assists an institution in attaining its goals by ushering a organized system to review and improve the competency of hazard assessment and management. It has a broadened room within an organization and may incorporate spheres like effective functioning, accuracy of financial collaterals, examining and discouraging frauds, protecting assets, and productive usage of company resources, as per the company’s policies.

 

Concurrent Audits

Concurrent Audit is extended version of Internal Audit and is carried out in an organization at consistent intervals, so that to verify the efficiency in Standard Operating Procedures (SOPs) from time to time.

 

Inventory Audits

Organizations avail credit limits and overdraft limits from financial institutions and banks, on the basis of inventory and book debts. It becomes necessary for the organization itself and the investor/financier to regularly check the inventory level. Along with it inventory audit is necessary for the purpose of applying inventory control system in the organization.

 

Compliance Audit

This audit is conducted to in any organization to regulate whether a company is abiding by the set rules and regulations as prescribed in all the applicable statutory laws and particularly to the policies drafted by management of the company.

 

Revenue Audit

This helps in discerning revenue leakages. It could either be due to deficiency of internal control policies, frauds or errors by the personnel. It is generally conducted once or twice a year.