Khurana Vivek & Co.
Chartered Accountants

Audit

Broadly, Audit involves the following :

  • Indepth study of existing systems, procedures and controls for proper understanding.  Suggestions for improvement and strengthening.
  • Ensuring compliance with policies, procedures and statutes.
  • Comprehensive review to ensure that the accounts are prepared in accordance with Generally Accepted Accounting Policies and applicable Accounting Standards/IFRS.
  • Checking the genuineness of the expenses booked in accounts.
  • Reporting inefficiencies at any operational level.
  • Detection and prevention of leakages of income and suggesting corrective measures to prevent recurrence. 
  • Certification of the books of account being in agreement with the Balance Sheet and Profit and Loss Account.
  • Issue of  Audit Reports under various laws.

 

Types of Audits conducted

  • 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.
  • Information System Audit
  • Internal Audits.


News & Events

11/11/2019
Over Rs 5,000 Cr dues declared so far in Sabka Vishwas Scheme
Income Tax dept busts Rs 3,300 Cr hawala racket involving infra firms
09/11/2019
Alberta Express Entry issues invitations to candidates with CRS scores as low as 300
Finance Minister asks taxmen not to scare taxpayers
RBI increases household income limits for borrowers of NBFC-MFIs
CA Exams to be held on 9th Nov has been postponed
08/11/2019
RBI imposes Rs 5 lakh fine on Oxigen Services
Govt considers special window for resolution of stressed NBFCs under IBC
CBDT notifies PAN-Aadhaar interchangeability
DIN System of CBIC comes into existence from today
07/11/2019
Flipkart gets stay on insolvency proceedings initiated against it at NCLT
RBI panel proposes stricter rules for core investment companies
Govt to issue new rules to bring NBFCs under IBC
FM announces special window to complete stalled real estate projects
06/11/2019
Quebec needs 80,000 immigrants per year, not 50,000
HC allows taxpayers to avail disputed pre-GST tax credits
SEBI issues circular on Aadhaar e-KYC for investors