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

30/09/2020
Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR)
Basel III Capital Regulations - Review of transitional arrangements
CBDT issues Guidelines under section 194-O (4) and section 206C (1-I) of the Income-tax Act, 1961
29/09/2020
MCA extended Time for conducting EGMs through VC or OAVM till 31.12.2020
Relaxation for filing Charge related forms extended till 31.12.2020 - MCA
MCA extended LLP Settlement Scheme 2020 to 31.12.2020
MCA extended Companies Fresh Start Scheme, 2020 till 31.12.2020
26/09/2020
Positive Pay System for Cheque Truncation System - RBI
22/09/2020
Rs.500 cap on late fee for delay in filing Form GSTR-10
Rs.500 cap on late fee for delay in filing Form GSTR-4
Time limit for issuing invoices under GST in specified cases extended
19/09/2020
RBI releases Handbook of Statistics on the Indian Economy 2019-20
Administrative instructions for recovery of interest on net cash tax liability w.e.f. 01.07.2017
Govt introduces Taxation Law Amendment Bill in Lok Sabha