In India, accounting and auditing services are regulated by statutory bodies like the Institute of Chartered Accountants of India (ICAI) and governed by laws such as the Companies Act, 2013, the Income Tax Act, and GST laws, among others. Below is a categorized list of the types of accounting and auditing services commonly offered in India:

Accounting Services

1. Bookkeeping Services

   • Day-to-day transaction recording

   • Ledger maintenance

   • Cash flow tracking

2. Financial Accounting

   • Preparation of financial statements (P&L, Balance Sheet, Cash Flow)

   • Compliance with accounting standards (Ind AS/IFRS)

3. Management Accounting

   • Cost analysis and budgeting

   • Variance analysis

   • Internal financial reports for decision-making

4. Cost Accounting

   • Cost structure analysis

   • Product pricing and cost optimization

   • Budget control

5. Payroll Accounting

   • Salary and wages computation

   • Provident Fund (PF), Employee State Insurance (ESI), TDS compliance

   • Payslip generation and reporting

6. Inventory Accounting

   • Valuation of inventory

   • FIFO, LIFO, weighted average methods

   • Stock audits

7. Forensic Accounting

   • Investigation of frauds or financial misconduct

   • Litigation support

   • Asset tracing

8. Tax Accounting

   • GST, TDS, and Income Tax computation

   • Filing of returns

   • Tax planning and advisory

Auditing Services

1. Statutory Audit 

   • Mandated by the Companies Act, 2013

   • Conducted for companies, LLPs, etc.

   • Focus on true and fair view of financial statements

2. Tax Audit (under Section 44AB of Income Tax Act)

   • Required for businesses/professionals crossing turnover threshold

   • Verifies income tax compliance

3. Internal Audit

   • Evaluation of internal controls and risk management

   • Helps in process improvement and fraud prevention

4. Cost Audit

   • Conducted under the Companies Act for certain specified companies

   • Verifies cost records and cost compliance

5. Concurrent Audit

   • Real-time audit of transactions, often used in banks

   • Focus on compliance and internal controls

6. Management Audit

   • Evaluates managerial decisions, strategies, and policies

   • Performance-oriented

7. Forensic Audit

   • Specialized audit to detect fraud or financial irregularities

   • Often done in legal cases or regulatory investigations

8. Due Diligence Audit

   • For M&A, investment, or loan purposes

   • Reviews financial, legal, tax, and operational aspects

9. Stock Audit

   • Verification of inventory with books

   • Used by companies or financial institutions (especially for loans)

10. Information Systems (IS) Audit

    • Reviews IT systems and data integrity

    • Ensures data security and compliance (e.g., GDPR, IT Act)