AUDIT & ASSURANCE

TAX AUDIT Tax Audit is conditional audit, conducted under the regulations of Income Tax Act. The Act states that if the turnover of any enterprises is more than 10 crore, and in case of professionals if the value of services is more than Rs. 50 lacs then they have to get their books of accounts […]

CONCURRENT AUDIT The Concurrent Audit is a systematic examination of all financial transactions at a branch on continuous basis to ensure accuracy and due compliance with the internal systems, procedures, and guidelines of the Bank. Concurrent audit is much the same as Internal Audit  and is carried out at regular intervals. Such type of audit […]

COMPLAINCE AUDIT A Compliance Audit is a comprehensive review of an organisation’s adherence to regulatory guidelines. Audit reports evaluate the strength and thoroughness of compliance preparations, security policies, user access controls and risk management procedures over the course of a compliance audit. Compliance audit      is an assessment as to whether the provisions of the […]

FORENSIC AUDIT & INVESTIGATIONS A Forensic Audit is an examination and evaluation of a firm’s or individual’s financialrecords. During a forensic audit, an auditor seeks to derive evidence that could potentiallybe used in court. A forensic audit is used to uncover criminal behavior such as fraud orembezzlement. Forensic audit is one among such audits which […]

FOLLOW UP AUDIT Follow-up Audit is an audit which verifies that corrective actions have been accomplished asscheduled. It determines that the actions are effective in preventing or minimizing futurerecurrence. Usually, a Follow-up Audit includes a Follow-up Review and a Follow-up Report.An audit is officially closed after all the recommendations have been recommended forclosure through the […]

PERFORMANCE AUDIT Performance audit refers to an independent examination of a program, function, operationor the management systems and procedures of a governmental or non-profit entity to assess whether the entity is achieving economy, efficiency and effectiveness in the employment of available resources. The examination is objective and systematic, generally using structured and professionally adopted methodologies. […]