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

16/01/2020
Reporting of Large Exposures to Central Repository of Information on Large Credits (CRILC) – UCBs
15/01/2020
Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions, 2018 - Amendment
Enhancing Security of Card Transactions
14/01/2020
Appointment of Revisional Authority | CGST Act, 2017 | Section 108
11/01/2020
Extention of due date to file GSTR1 returns without late fees
Framework for imposing monetary penalty on authorised payment system operators / banks under the Payment and Settlement Systems Act, 2007
10/01/2020
Processing of e-mandate in Unified Payments Interface (UPI) for recurring transactions