We assist clients with Statutory Audit under the Companies Act, Banking Regulation Act, Bombay Public Trust Act, Societies Registration Act and the Co-op Societies Act. We undertake these audit assuring compliances with all legal formalities.
We assist clients with Tax Audit under the purview of Section 44 AB of Income Tax Act, 1961 of Proprietor, Partnership Firms, AOP’s, Private and Public Limited Companies and Nationalised and Co-operative Banks.
GST Audit is a part of annual return process and it is very important for business entities to avoid losses of credits, to avoid interest/penalties, etc. Audit under GST is the examination of records and verifying the correctness of information declared in returns filed periodically.
We assist Nationalised and Co-operative banks with Statutory Audits, Concurrent Audits, Revenue Audits, Income & Expenditure Audits, ISA Audits, Stock Audits.
We assist clients with internal audit functions, providing comprehensive, year-round audit procedure, which goes well beyond the routine transactions, testing the effectiveness of the internal control environment and risk management, process improvement and cost control tactics.
We assist clients in establishing and complying with the Information System Auditing Standards. We establish controls whether managerial, organizational, operational or application in IT environments.
We conduct detailed & scientific audit of various Co-operative Societies as per the Cooperative Societies Act, 1912. The major area of focus being examination of overdue receivables, adherence to bylaws, expense audit, etc.
stock Audit and physical verification of assets
We provide Stock Audit Services to business entities helping them to arrive at the actual stock of goods available at the given point of time. We also help business entities in physical verification of assets and asset tagging services. We follow a strict audit and reporting mechanism that ensures correct findings are reported to the levels concerned.
We conduct detailed & scientific audits of various Co-operatives as per the Cooperative Societies Act, 1912 Our Cooperative audits focus is on:
Following are the main aspects undertaken at Concurrent Audit:
- Ensuring compliance of laid down systems, procedures and policies.
- Verifying the measures being taken in advance to prevent future frauds.
- Evaluating the quality of customer services provided and giving useful suggestions.
- Assessing overall performance of the branch along with its productivity and profitability.
- Verifying prompt timely and regular compliance of Statutory returns and payment of taxes.
- Risk Based Audit Approach
Management audit are primarily conducted in order to provide the client’s management team with a clear, comprehensive and unbiased analysis of the functional efficiency of the organization and to suggest possible areas for improvements. We strongly believe in Management Audits being a value addition exercise rather than a mere compliance exercise. Our Management audits focus on:
- Providing an unbiased and objective in-depth assessment of the managerial and leadership competence and potential of the entire management team .
- Perform differentiated and individual evaluation of the executives in question.
- Assisting in meeting the clients’ Corporate Governance requirements.
- Suggesting improvement of the present and future performance and establishing appropriate standards.