Broadly, Audit involves the following:

• In-depth study of existing systems, procedures, and controls for proper understanding. Suggestions for cost-saving, improvement, and strengthening operations.
• The Audit is an Independent examination of Financial information.
• The Audit is to express an opinion on the financial statements.
• The comprehensive review ensures that the accounts are prepared by Generally Accepted Accounting Policies and applicable Accounting Standards/IFRS.
• Checking the genuineness of the expenses booked in accounts.
• An audit is a systematic review and assessment of information or documents.
• A compliance audit ensures that the business or organization is acting in compliance with regulatory or internal standards and is commonly carried out in regulated industries.
• Internal audits evaluate a company’s internal controls, including its corporate governance and accounting processes.

Types of Audits conducted

• Branch Statutory Audit, Concurrent Audit, Stock Audit and Revenue Audit of Banks
• Statutory Audit of Pvt Ltd Companies, Firm, LLP, etc
• Tax Audit under Section 44AB of the Income Tax Act, 1961.
• Compliance of Audit
• Operational Audit
• Internal Audit of Companies.
• System Audit.
• Security Audit.
• Audit of Co-operative Societies and local Government bodies.
• CAG Statutory Audit of Limited Companies.
• GST AUDIT U/S 35(5)