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

23/03/2019
RBI defers implementation of Ind AS for Banks
22/03/2019
Compilation of R-Returns: Reporting under FETERS
Export and Import of Indian Currency - RBI
Reporting and Accounting of Central Government Transactions of March 2019
16/03/2019
Reserve Bank of India (Prevention of Market Abuse) Directions, 2019
14/03/2019
Trade Credit Policy – Revised framework
08/03/2019
Circular clarifying various doubts related to treatment of sales promotion scheme under GST
GST composition scheme limit enhanced to Rs.1.5 Cr w.e.f. 01-04-2019
CBIC notifies due date for monthly GSTR-1 for April 19 to June 19
CBIC notifies due date for quarterly GSTR-1 for April 19 - June 19
GST Registration Exemption up to 40 lakh w.e.f. 01-04-19
Optional 6% UTGST Tax for First 50 lakh w.e.f. 01-04-2019
UTGST Registration Exemption up to 40 lakh w.e.f. 01-04-19
Optional 6% UTGST Tax for First 50 lakh w.e.f. 01-04-2019
White Label ATMs (WLAs) in India – Review of Guidelines
Interest Subvention Scheme for Short Term Crop Loans during the years 2018-19 and 2019-20