Cost & Management Accountant
Practicing Cost Accountants

Internal 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. 
  • Issue of  Audit Reports under various laws.

 

Types of Audits conducted

 
  • Internal Audit
  • Concurrent Audits.
  • Stock Audit
  • Information System Audit

 


Notifications/Circulars

15/02/2020
NIDHI (Second Amendment )Rules, 2020
14/02/2020
Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2020
Companies (Issue of Global Depository Receipts) Amendment Rules, 2020
12/02/2020
Micro, Small and Medium Enterprises (MSME) sector – Restructuring of Advances
10/02/2020
Incentivising Bank Credit to Specific Sectors – Exemption from CRR Maintenance
08/02/2020
CBIC extends the time limit for submitting Tran 01 till 31.03.2020
Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances - Projects under Implementation
Implementation of Section 51A of Unlawful Activities Prevention Act (UAPA), 1967- Updates to ISIL (Da'esh) & Al-Qaida Sanctions List