Bitragunta & Co.
Chartered Accountants

Broadly, Audit involves the following :

• Indepth study of existing systems, procedures and controls for proper understanding.  Suggestions for improvement and strengthening.
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• Ensuring compliance with policies, procedures and statutes.
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• Comprehensive review to ensure that the accounts are prepared in accordance with Generally Accepted Accounting Policies and applicable Accounting Standards/IFRS.
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• Checking the genuineness of the expenses booked in accounts.
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• Reporting inefficiencies at any operational level.
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• Detection and prevention of leakages of income and suggesting corrective measures to prevent recurrence. 
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• Certification of the books of account being in agreement with the Balance Sheet and Profit and Loss Account.
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• Issue of  Audit Reports under various laws.

Types of Audits conducted

• Statutory Audit of Companies
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• Tax Audit under Section 44AB of the Income Tax Act, 1961.
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• Audit under other sections of the Income Tax Act, 1961 such as 80HHC, 80-IA, etc.
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• Concurrent Audits.
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• Revenue Audit of Banks.
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• Branch Audits of Banks.
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• Audit of PF Trusts, Charitable Trusts, Schools, etc.
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• Audit of Co-operative Socities.
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• Information System Audit
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• Internal Audits.