Broadly, an Audit involves the following:

• In-depth study of existing systems, procedures and controls for proper understanding of the business process. Suggestions for improvement and strengthening of the control environment.
• Ensuring compliance with policies, procedures and statutes.
• Comprehensive financial review to ensure that the accounts are prepared in accordance with Generally Accepted Accounting Policies and applicable Accounting Standards.
• 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.
• Certification of the books of account being in agreement with the Balance Sheet and Profit and Loss Account.
• Issue of Audit Reports under various laws.

List of the various types of Audits conducted

Statutory Audit of Companies :
The firm conducts Statutory Audits of the Private Corporate clients,which are required to be conducted under the provision of The Companies Act, 2013 and various other statutes.
Statutory Audit of Trusts:
The firm also undertakes the Audits of Public Trusts, Private Discretionary Trusts which are required to be conducted under the provisions of The Maharashtra Public Trusts Act, 1950 and various other statutes and submission of reports thereof to the Hon. Charity Commissioner.
Audit of Co-operative Societies :
The firm is also undertaking the Statutory Audits and Internal Audits of the various types of Co-operative Societies such as Co-operative Housing Societies, Co-operative Banks, Credit Co-operative Society i.e.
Patsanstha, Apartments etc. which are required to be conducted under the Co-operative Societies Act and various other statutes and submission of reports thereof to the respective Government Authorities.
Tax Audit:
The firm conducts Tax Audits of several Individual clients and corporate clients as prescribed under the Provisions of The Income Tax Act, 1961.
Internal Audits:
The firm undertakes Internal Audits for various entities including Corporates and Banks. The processes are reviewed and the suggestions are given to the management for the strengthening the internal control
systems.
Concurrent Audit of Banks:
The firm undertakes Concurrent audits of various Banks. We suggest core areas for strengthening the internal control.
Stock Audit:
The firm undertakes Stock Audit for various entities.
Various Other Statutory and Management Audits, viz. GST Audit, Cash Audit, Audit of the Fixed Assets, Investments Audit, Expenditure Audit, Revenue Audit, Credit Audit etc.