system audit checklist

System Audits Services in India 

Tax Robo helps in formulating a system audit framework and allows you to implement a system audit checklist for effective Decision-Making.


Get Started

Professional CA/CS/CMA Support
 
Quick Process
 
100% Compliance Support
 
Easy Process
 
All Financial Services in One Place
 
Tele Support

System Audits 


This is the era of computers!

Almost everything around us is affected by technology & computers.

It is without question as to why computers have now taken over managing a bulk of financial operations.

The speed and the accuracy they offer in performance of tasks and in delivering results is unmatched and is therefore the reason why Banking operations are becoming computerised with every day passing.

But…

Not all is perfect with computer systems. They can be breached and important data can be stolen, even worse someone can loot you to the brink of Bankruptcy.

It is why system audits were put into place.

The objective of a systems audit is to validate the integrity of the information stored in the database of information systems and how they are processed.

An audit trail or audit log is a security record which consists of who has accessed a computer system and what operations are performed during a given period of time. Audit trials are used to do detailed tracing of how data on the system has changed.

It provides documentary evidence of various control techniques that a transaction is subject to during its processing. Audit trails do not exist independently. They are carried out as a part of accounting for recovering lost transactions.

Data processing auditors audits the usage of computer systems in order to control it. The auditor needs control data which is obtained by the computer system itself.

Tax Robo offers System Audits assistance to its clients, ensuring their precious data is secure from the hands of breachers and fraudsters.

Scope of Audit Services 

Internal Controls 

Internal Controls Are Designed To Provide Reasonable Assurance Regarding The Achievement Of Objectives In The Following Categories:

  Reliability and integrity of Financial Products and operational information.

  Effectiveness and efficiency of operations and programs.

  Safeguarding of assets.

  Compliance with laws, regulations, policies, procedures, and contracts.

Internal Audit Assists The Company In Maintaining Effective Controls By Evaluating Their Effectiveness And Efficiency And By Promoting Continuous Improvement As Part of Our Internal Auditing And Consulting Activity.

Finance and Accounts Controls  

  Test Of Controls – Internal Controls

  Cash & Bank Payments & Receipts

  Bank Reconciliation Statements

  Travel & Advances Verification​

  Transporters Bills Verification

  Suppliers Payment Verification

  Deposits & Interest Accounting

  Loan Accounting & Repayments

  Custody of Physical Cash Surprise Verification

  Sales Invoice Accounting and income recognition

  Documentations / Filings

How it Works 

Stage 1

You fill out the inquiry form.

The client relations team calls or emails you.

Stage 2


Understanding of requirements.
Ballpark estimate (if possible).
Proposal (if required).
Approval to go ahead.

Stage 3


Confirm pricing
Contracting & SLA sign-off

Stage 4  


Resource deployment & training Project kick-off meeting

Stage 5


Project execution & management

On-going reporting & feedback

Stage 6


Work delivery to the client

Client feedback and review

Compliances of Statutes

  • TDS Compliances
  • Services Tax Compliances
  • PF & ESI Compliances
  • Professional Tax Compliances
  • Income Tax Compliances
  • Others Statutory Compliances

Fixed Asset Controls

  • Fixed Asset Accounting
  • Fixed Asset register Maintenance – with Location
  • Asset Deletion Accounting & Recognition
  • Insurance details for Fixed Asset



Analysis of Various general Ledger Transactions and Balances

  • Setup a Internal Controls Systems for smoothening the functions
  • MIS Reports for Managements
  • Collections and Follow-ups in Excel data Sheet
  • Budgetary Controls
  • Documents Maintenance Controls and Supports

Tax Robo Team and Process

  • Surprise Verification
  • Associated Firms In Tamilnadu
  • Strength Is Our Branches

Various Internal Controls


Preventive Controls

Segregation Of Duties: Duties Are Segregated Among Different People To Reduce The Risk Of Error Or Inappropriate Action. Normally, Responsibilities For Authorizing Transactions (Approval), Recording Transactions (Accounting) And Handling The Related Asset (Custody) Are Divided.

Approvals, Authorizations, And Verifications: Management Authorizes Employees To Perform Certain Activities And To Execute Certain Transactions Within Limited Parameters. In Addition, Management Specifies Those Activities Or Transactions That Need Supervisory Approval Before They Are Performed Or Executed By Employees. A Supervisor's Approval (Manual Or Electronic) Implies That He Or She Has Verified And Validated That The Activity Or Transaction Conforms To Established Policies And Procedures.

Security Of Assets (Preventive And Detective): Access To Equipment, Inventories, Securities, Cash And Other Assets Is Restricted. Assets Are Periodically Counted And Compared To Amounts Shown On Control Records.

Detective Controls

Detective Controls Are Designed To Find Errors Or Irregularities After They Have Occurred. Examples Of Detective Controls Are:

  • Reviews of Performance: Management compares information about current performance to budgets, forecasts, prior periods, or other benchmarks to measure the extent to which goals and objectives are being achieved and to identify unexpected results or unusual conditions that require follow-up.
  • Reconciliations: An employee relates different sets of data to one another, identifies and investigates differences, and takes corrective action, when necessary.
  • Physical Inventories
  • Audits