ORGANISATION STUDY AT

A.KRISHNAMOORTY & CO.,

CHARTERED ACCOUNTANTS

NAME : RAVEENA DEVI S K

REG NO : RA1852001040073
DEPT : MBA II-YEAR
COMPANY BACKGROUND

 Name of the Proprietor : A. Krishnamoorthy

 Constitution of the Firm : Proprietorship

 Nature of the business : Auditing

 The firm has a bout 31 years of extensive experience in audit,

taxation and management consultancy

 It is specialized in tax planning particularly for corporate and

business houses .

 It has diversified nature of working both in public and private

sector with good exposure in computerized and manual
environments of national and international accounting and
auditing standards .
OBJECTIVES OF THE STUDY

 To have an exposure on various departments of the

organization.
 To analysis various process of the organization.
 To find out the strength and weakness of organization.
 To seek and improve practical knowledge about the firm .

NEED FOR THE STUDY

Organizational study is “the examination of how
individuals construct organizational structures, processes
and practices and how these, in turn, shape social relations
and create institutions that ultimately influence people”.
LIMITATION S FOR THE STUDY

 The company has limitation to disclose the

information about the clients and financial
details about the firm were kept confidential.
 There were time constraints due to nearing
of due date for filling income tax for
individuals .
 The study was limited within Chennai.
ORGANISATION STRUCTURE
CORPORATE STRUCTURE

An accounting or finance firm may be organized as a

partnership, a sole proprietorship or as a public company. Sole

proprietorships are run by entrepreneurs who may employ part

time or seasonal staff to help with the workload.

Associates

Senior manger
General Manager
Cost Accountant
Administration Manager
Filling Manager
Audit assistant

.
PROCESS OF AUDITING

●
Inform the client to close their books of accounts and keep
them ready for verification.
●
Obtain a copy of pervious year audit report.

Pre audit
CONTENTS OF AUDITING PROCESS
An audit firm normally follows the following activities
 1. Auditing services
 2. Reporting
 3. Corporate governance

Audit process:

The auditor notifies the client of the audit, discusses the scope and
objectives of the examination in a formal meeting with organization
management, gathers information on important processes, and
evaluates existing controls and plans.
 Vouching
 Verification inventory / Fixed Assets
 Documentation
 GST - Goods and Service Tax (GST) is an indirect tax levied on the
supply of goods and ser-vices. This law has replaced many indirect
tax laws that previously existed in India. GST is one indirect tax for
the entire country.
 Income tax - The Income Tax Act, 1961 has wide scope and
empowers ITD to levy tax on income
of individuals, firms, companies, local authorities, societies, Of
other artificial juridical persons
 FORM 26AS-Form 26AS gives an overall view of your income tax
deducted in a particular financial year at various sources of income
like tax deducted on commission income, tax deduction on interest
received from Fixed deposits, tax deducted on salary, etc.
 Electronic filing (e-filing)-Electronic filing is the process of
submitting tax returns over the Internet using tax preparation
software that has been pre-approved by the relevant tax authority.
 SWOT ANALYSIS
StSTRENGTHS
 It is a been one of the major
expertise firm in audit , tax and
advisory.
 They have skilled work force.
 They posses strong
management team.
 Loyal customers.
 Strong financial position
 They have strong brand equity.
OPPORTUNITY
There are enormous growth
prospects in emerging
markets
 Increasing demand for
compliance solution.
 Complex tax laws enhancing
the opportunity.
 Increasing demand on
companies looking for expert
in auditing
WEAKNESS ess
 Being a top firm sometimes it is
unapproachable due to its high
expertise and fees.
 Weakness in retaining talents.
 Weakness in training procedure
for new audit assistant
 Weak in IT department.
 Lack of advertising.
THREATS
They have allegedly to many
lawsuits.
 The Financial Reporting Act
could hamper in providing
services.
 Lower profitability.
 Emergence of new
technology.
External changes
(government, politics, taxes )
FINDINGS
 There is biased relationship among the employees.
 Lack of awareness and experience about GST.
 Filling for GST has become difficult as it a new amendment by
the government.
 There is weak IT department which slowdowns the process and
there is a delay .
 Lack of motivation for employees which reduces efficiency.

SUGGESTIONS :
 Employees can get off the job training such as(conference,
lectures ) conducted by the ICAI
 They can use latest technology to have efficiency in the work .
 Rewards can be given to motivate the employees.
CONCLUSION
 The study shows the details about the audit and
income tax activities. The objectives of the study is to
knowing process for the working of the firm . This
study will help to known about how to utilized
maximum available deductions, allowances and
exemptions under different sections, for reducing the
individual and companies tax payers tax liabilities with
the help of tax consultants.