Lavesh Mittal & Associates
Chartered Accountants

 
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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.

News & Events
18/10/2025
Introduction of “Pending” Status for Credit Notes & Reversal Declaration in IMS
RBI imposes penalties on five Co-op Banks for non-compliance
17/10/2025
FAQs Related to GSTR-9/9C for the Financial Year 2024-25
Govt May Merge Smaller Banks Like IOB, CBI, BOI with Bigger Lenders Including SBI, PNB
SEBI issues show cause notice to ZEEL over alleged irregularities
16/10/2025
Big Relief for Taxpayers - Supreme Court Backs Genuine Dealers on ITC Claims
RBI Governor: US Tariffs Pose No Major Threat to India’s Growth
15/10/2025
Rate Cut Kept on Hold; RBI Sees Scope but No Immediate Move
India’s Exports Grow, But Trade Gap Widens to USD 32.15 Billion
Expert Guidance for GSTR 9/9C Submission – FY 2024-25
GST Reforms in Recycling Can Unlock ₹1.82 Lakh Crore
14/10/2025
Indian Rupee Gains 2 Paise to Close at 88.67 Against Dollar
Sensex Drops 174 Points, Nifty Slips 58 as Markets End Lower Across Sectors
Gujarat HC Directs CBDT to Mull One-Month ITR Extension for Audit Cases
Notifications & Circulars
18/10/2025
CBIC Notifies Extension for GSTR-3B Filing up to 25th October 2025
17/10/2025
Relaxation of additional fees and extension of time for filing of Financial Statements and Annual Returns under the Companies Act, 2013
16/10/2025
Extension for Filing e-forms DIR-3-KYC and web -form DIR -3 – KYC – WEB without filing fee up to 31.10.2025
Notification No. 65/2025-CUSTOMS (N.T.)
14/10/2025
Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Seventh Amendment) Regulations, 2025
Foreign Exchange Management (Borrowing and Lending) (Amendment) Regulations, 2025
09/10/2025
Implementation of the Sea Cargo Manifest and Transhipment Regulations (SCMTR)-reg
Implementation of Section 51A of UAPA,1967: Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List: Amendment of 02 Entries
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