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.