Audit services are unique in their nature. A very knowledgeable person may not necessarily come out with good observations than a person who may not be as knowledgeable. Audit is more a skill than a knowledge. Skill can be also be developed with experience and exposure as well.
A good audit can bring out very important observations which can be of immense help to a business and industry’s operations and profitability by eradicating inefficiencies in the ways the things are done, the unimportant processes which lowers down productivity, costly mistakes etc.
Audit can be in any area defined by the person who needs defined results and audit need not have any barriers or boundaries so far the nature of audit is concerned.
Audit should be always done by outsiders and persons who have no vested interests in the outcome of audit. Observations of audit should always be welcome and should be made use of them and the audit reports should compulsorily be thoroughly read and understood by the Management. Even a small clue in audit observations can lead to the tip of ice-berg and should be made use of fully.
Following are the regulatory audits prescribed under various laws which a business need to get done.
- Audit under Companies Act ( company Audit )
- Audit under Income Tax Act( Tax Audit)
- Audit under other sections of the Income Tax Act, 1961 such as
- Concurrent Audits
- Revenue Audit.
- Branch Audits.
- Audit of Trusts, Charitable Trusts, Schools
- Audit of Societies.
- Internal Audits.
- Special Audit for specific transactions/ area
- Stock Audit
- CFA Audit
We are competent to conduct any sort of audit and come out with very useful outcome and reporting useful for the management.