News & Events
01/03/2024
GST revenue collected during February 2024 gross Rs. 1,68,337 Cr
FIU-IND imposes penalty of Rs. 5,49,00,000 on Paytm Payments Bank Ltd under PMLA
SEBI slaps Rs 4.8 mn fine on 8 entities for flouting regulatory norms
29/02/2024
RBI urges financial institutions to disclose climate risks
22/02/2024
RBI to examine overseas investment rules
Chartered Accountants from UK, Canada might be allowed to Practice in India - ICAI
20/02/2024
CBDT drops small tax demands but not TCS, TDS Claims
NFRA set to Initiate first Annual Inspection of Key Audit Firms by April, 2024
16/02/2024
SC refused to interfere in High Court's Guidelines on Reopening of Income Tax Assessments
Notifications/ Circulars
01/03/2024
RBI Review of Guidelines - Withdrawal of Circulars
Master Direction – Reserve Bank of India (Bharat Bill Payment System) Directions, 2024
28/02/2024
Capital Adequacy Guidelines – Review of Trading Book
Appointment/re-appointment of Director, Managing Director or Chief Executive Officer in Asset Reconstruction Companies
Master Direction – Reserve Bank of India (Filing of Supervisory Returns) Directions - 2024
23/02/2024
Inclusion of Clearing Corporation of India Limited as a Financial Information Provider under Account Aggregator Framework
21/02/2024
Formation of new district in the State of Assam – Assignment of Lead Bank Responsibility
16/02/2024
Exclusion of “Rupee Co-operative Bank Limited” from the Second Schedule to the Reserve Bank of India Act, 1934
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ASCA & ASSOCIATES

Chartered Accountants,

No 716/35, JC Plaza, 2nd Floor, 12th Main Road, 42nd Cross, 3rd Block,

Rajajinagar, (Near ESI Hospital Signal) Bangalore - 560010.


Ph.080-23402441, Mob. 08904705900, 9980021836

email : asca.associates@gmail.com

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Audit

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.
 
 
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