AUDIT

Choudhury Agrawal & Co is a CA firm in Kolkata providing Audit and Assurance services and has implemented the latest methods for maximizing audit efficiency through a risk based international audit approach. Our Audit firm in Kolkata has a significant audit team enabling timely delivery and value added advisory services to clients. We offer our auditing services to the traders and industrialist of all size and nature. We strictly adhere to the audit norms to execute the audit work of our clients. We study the working systems, nature and volume of business and make valuable suggestions to promote efficiency and achieve better results at the same time. We make it a point that the auditing work is undertaken efficiently so that it does not raise superfluous queries and unnecessarily trouble the clients.

Choudhury Agrawal & Co is an Audit firm in Kolkata which gives particular attention in understanding the entity's business and the environment in which it operates, and to ensure that any specialized knowledge required by the engagement is appropriately brought to bear. Most importantly the Firm's audit approach is business oriented. It focuses on an understanding of the client's business much deeper than the knowledge of the accounting system and records on which auditors have traditionally concentrated. We reflect this business orientation in several ways: our audit focuses on the substance of the underlying business rather than just the financial statements; we use our knowledge of the business and consider other services we provide in determining our audit procedures and appropriate sources of audit evidence; we use information we obtain from other services we may have performed during the year to offer constructive advice to management.

a) Statutory Audit/Tax Audit/Internal Audits :

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 under Companies Act 1956
• 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.

Our firm is also engaged in conducting Internal -cum - Management Audit of several companies and firms in private sector.Few Important Sectors are: -

 Sectors
1) Manufacturing Toughened Glass Sheets
2) Software Development & Services
3) Stock Exchange Broker (Member of NSE and BSE )
4) Travel Agent
5) Medical Diagnostic Centre
6) Hotels & Restaurant
7) Real Estate
8) Manufacturing of Textile Fabrics
9) Business of Export & Import of commodities
10) Rice Mills
11) Mining of stones
12) Education

b) Audit of Banks :
 I) Statutory Audit :
We have been Statutory branch auditors of the various nationalized banks.
II) Concurrent Audit :
Our firm has been Concurrent Auditors of various branches of Banks
III) Stock Audit
Our firm has been Stock Auditors of various branches of Banks
IV) Income & Expenditure / Revenue Audit :
The firm has conducted Income & Expenditure Audit and Revenue Audit for various branches for the past 15 years.
V) Inspection Audit :
We have conducted Inspection Audit for more than four years in the past.
VI) Other Audit :
The firm has aiso conducted Risk Based Internal Audit in past.