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a) Statutory Audit [IT act, Co. Act, GST, VAT]
b) Bank Audit [Branch audits, Concurrent Audit, Stock &
Revenue Audit]
c) Internal Audit [Integrated Internal Audit, Operational Audit,
Management audit]
Statutory Audit:
These are assurance services provided to comply
with regulatory requirements. Primary objective of independent auditor
to express his opinion on True and Fair view of relevant financial information
in use. Its mandatary for certain class of entities under following regulations
Income-tax Act. Companies Act
- Goods and Services Tax (GST)
- Value-added tax (VAT) which are outside purview of GST
Bank Audit:
Bank auditing is the procedure of
reviewing the services and procedures adopted by banks and other financial
institutions. It is a routine procedure that all financial services entities
must undergo in order to ensure that they are complying with industry standards
and jurisdictional regulations.
Some of the procedures and services reviewed in the bank
audit are outlined below:
- Branch audits
- Concurrent Audit
- Stock & Revenue Audit
Internal Audit [Audit for Management]:
This kind of audit is specifically designed to enhance a
firm’s functioning. It assists an institution in achieving its goals by
ushering a methodical system to inspect and better the efficiency of risk
evaluation and management. It has a widened scope within an organisation and
may incorporate spheres like effective functioning, accuracy of financial
collaterals, inspecting and discouraging frauds, protecting assets, and
productive usage of the company resources that agrees with the company’s rules.
We provide following services in this domain.
In some statutes it is mandatory for certain class of entities
to have internal audit system. [Section 138 of Companies Act, 2013].
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