Bhattacharya & 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
05/01/2026
CBDT Chairman Urges Proactive Transition to New Direct Tax Framework
02/01/2026
RBI Reports Major Success in ₹2,000 Note Withdrawal; Only 1.59% Remain
NFRA Strengthens Audit Framework with Second Practice Toolkit
01/01/2026
GST Shock Strains Centre’s Finances, Fiscal Deficit Balloons
Rupee Stumbles at Start of 2026 Despite Strong Macroeconomic Buffers
30/12/2025
GST Clarification on Electronic Credit Reversal, Re-Claim & RCM Liability Statements
ICAI Issues Guidance on Accounting of Enhanced Gratuity Liability
26/12/2025
India’s Foreign Exchange Reserves Rise to USD 693 Billion
Notifications & Circulars
07/01/2026
Reserve Bank of India (Urban Co-operative Banks – Credit Risk Management) – Amendment Directions, 2026
Reserve Bank of India (Regional Rural Banks – Credit Risk Management) – Amendment Directions, 2026
Reserve Bank of India (Local Area Banks – Credit Risk Management) – Amendment Directions, 2026
Reserve Bank of India (Small Finance Banks – Credit Risk Management) – Amendment Directions, 2026
Reserve Bank of India (Commercial Banks – Credit Risk Management) – Amendment Directions, 2026
05/01/2026
Returns – Department of Payment and Settlement Systems – Submission in CIMS
Returns – Department of Payment and Settlement Systems – Submission in CIMS
Returns – Department of Payment and Settlement Systems – Submission in CIMS
Reserve Bank of India (Non-Banking Financial Companies - Concentration Risk Management) Amendment Directions, 2026
Reserve Bank of India (Non-Banking Financial Companies – Prudential Norms on Capital Adequacy) Amendment Directions, 2026
03/01/2026
Reserve Bank of India (Commercial Banks - Financial Statements: Presentation and Disclosures) Amendment Directions, 2026
30/12/2025
MCA Grants Time Extension for Annual Filings
29/12/2025
Reserve Bank of India (Commercial Banks – Know Your Customer) Amendment Directions, 2025
Reserve Bank of India (Small Finance Banks – Know Your Customer) Amendment Directions, 2025
Reserve Bank of India (Urban Co-operative Banks – Know Your Customer) Amendment Directions, 2025
Reserve Bank of India (Rural Co-operative Banks – Know Your Customer) Amendment Directions, 2025
Reserve Bank of India (Regional Rural Banks – Know Your Customer) Amendment Directions, 2025
Reserve Bank of India (Payments Banks – Know Your Customer) Amendment Directions, 2025
Reserve Bank of India (Non-Banking Financial Companies – Know Your Customer) Amendment Directions, 2025
Reserve Bank of India (Local Area Banks – Know Your Customer) Amendment Directions, 2025
Reserve Bank of India (Asset Reconstruction Companies – Know Your Customer) Amendment Directions, 2025
Reserve Bank of India (All India Financial Institutions – Know Your Customer) Amendment Directions, 2025
Government Extends Anti-Dumping Duty on PET Resin Imported from China PR
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