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.   


* 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.


Types of Audits conducted


* Statutory Audit of Companies


* Tax Audit under Section 44AB of the Income Tax Act, 1961.


* Audit under other sections of the Income Tax Act, 1961 such as 80HHC, 80-IA, etc.


* Concurrent Audits.


* Revenue Audit of Banks.


* Branch Audits of Banks.


* Audit of PF Trusts, Charitable Trusts, Schools, etc.


* Audit of Co-operative Socities.


* Information System Audit


* Internal Audits.