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We provide assistance to businesses in their endeavor to ensure compliances with all the relevant Accounting Standards issued by The Institute of Chartered Accountants of India (ICAI), along with US GAAP and other applicable International Accounting and Financial Standards. The services specifically pertain to Assurance, Internal Control Systems Review, Due Diligence, Special Audit, Management Audit, Internal Audit & Statutory Audit.

AYK & Associates through its dedicated QC division, which has designed & successfully implemented Quality Control Standard (QCS), has developed & published a complete audit manual for Statutory & Internal audits that outlines a detailed audit program & procedure to be executed in a planned manner for successful & timely accomplishment of the task by the audit staff. AYK & Associates, Chartered Accountants provide following services in the field of Auditing
Statutory Audit Quality Audit Management Audit
Internal Audit Inspection/Investigations Special Audit
System Audit Physical Verifications/Stock Audit Revenue Audit
Broadly, Audit involves the following
  • Indepth study of existing systems, procedures and controls for proper understanding. Suggestions for improvement and strengthening the internal control system.
  • 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.
  • Statutory Branch Audits of Banks.
  • Audit of PF Trusts, Charitable Trusts, Schools, etc.
  • Audit of Co-operative Societies.
  • Information System Audit .
  • Internal Audits.
  • Special Audit under Section 142(2A) of Income Tax Act’1961.
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