Audit


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Audit and Attestation

Audit provides the foundation for guaranteeing credible financial information about a company, which is integral in establishing confidence in the market and for the firm to gain access to credit. However, an annual audit can be a time consuming and an expensive process requiring in-depth understanding of the industry, value drivers and competitive positioning of the company.

A.K. Sood & Associates bridges this skill gap by assuring professional integrity through conducting objective audits and ensuring all required reporting requirements are complied with. As a company we believe in recruiting the best and training our people to anticipate client’s needs, understand the business and its risks, and the latest industry norms in financial reporting principles and regulatory requirements. We also provide expert corporate tax planning and business advice that helps our clients in gaining competitive advantage in the industry.

Various types of audit conducted by us include:

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 Societies
Information System Audit
Internal Audits

We provide following audit services:

In-depth study and assessment of existing systems, procedures and controls and provide suggestions for improvement and strengthening the business
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 to minimize waste and streamline the processes
Detection and prevention of leakages of income and suggesting corrective measures to prevent recurrence
Certification of the books of account to ensure that they are in agreement with the Balance Sheet and Profit and Loss Account
Issue of Audit Reports under various laws