Audit & Assurance
An audit should leave you with more than a signed report. While we test the numbers in line with ICAI auditing standards, we point out control gaps, tax-disallowance exposures, and compliance risks clearly.
What is included
Independent assurance engagements conducted in accordance with Standards on Auditing (SAs), Accounting Standards (AS / Ind AS), and income tax regulations.
1. Statutory audit under the Companies Act, 2013
Examination of annual financial statements (Balance Sheet, Profit & Loss, Cash Flow Statement, and Schedule III Notes), Independent Auditor’s Report, CARO 2020 (Companies Auditor’s Report Order) annexures, and Internal Financial Controls over Financial Reporting (IFCoFR) opinion where applicable.
2. Tax audit under Section 44AB (Form 3CA/3CB & 3CD)
Clause-by-clause verification of all 44 clauses of Form 3CD—including Section 43B(h) MSME payment timelines, Section 40(a)(ia) TDS disallowances, Section 269SS/269T loan rules, GST expenditure disclosures, and depreciation schedules—for businesses and professionals above the prescribed turnover limits.
3. Internal & risk-based process audits
Periodic review of procurement-to-pay, order-to-cash, inventory controls, payroll, and statutory compliance, delivered with an actionable Management Letter highlighting control weaknesses and practical fixes.
4. Ind AS financial statement conversion & review
Preparation and review of Ind AS compliant financial statements, transition adjustments, lease accounting (Ind AS 116), financial instruments (Ind AS 109), and revenue recognition (Ind AS 115) schedules.
5. NGO, trust & special-purpose certifications
Charitable trust and society audit reports in Form 10B / Form 10BB, LLP statutory audits (where turnover exceeds ₹40L or contribution exceeds ₹25L), fund-utilisation certificates, net-worth certificates, and lender/tender certifications with UDIN.
Documents usually required for audit.
We share a structured audit requisition list before fieldwork begins so your team can prepare records in one pass.
Financial Books & Ledgers
- Complete accounting backup (Tally / Zoho / ERP) with Trial Balance, P&L, and Balance Sheet
- Sales, purchase, credit note, and expense registers with supporting sample invoices
- Closing stock valuation sheets and physical inventory verification records
- Debtors and creditors ageing schedules (including MSME vendor classification for Section 43B(h))
Banking, Loans & Fixed Assets
- Bank statements and bank reconciliation statements (BRS) for all operative and dormant accounts
- Sanction letters, repayment schedules, and interest certificates for all secured/unsecured loans
- Fixed Asset Register (FAR) with addition/deletion invoices for Companies Act & Income Tax depreciation
- Details of investments, FDRs, and accrued interest certificates
Tax & Labour Law Compliances
- Filed GSTR-1, GSTR-3B, GSTR-2B, and GSTR-9 returns with book-to-GST reconciliation
- Quarterly TDS returns (24Q/26Q), challans, Form 26AS, and AIS/TIS statements
- EPFO, ESIC, Professional Tax, and Gratuity payment challans with due-date payment proof
- Previous year’s signed Audit Report, Form 3CD, and ITR with computation
Secretarial & Agreements (For Companies)
- MOA, AOA, Certificate of Incorporation, and shareholding pattern
- Minutes of Board Meetings and General Meetings held during the financial year
- Statutory registers, related-party disclosure list (AS 18 / Ind AS 24), and director declarations (MBP-1, DIR-8)
- Major customer contracts, lease agreements, and legal correspondence
How our audit engagements run.
Structured into four clear phases so your team is never disrupted at the last minute.
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Planning & requisition
We review your trial balance, issue the formal engagement letter (ADT-1 where applicable), and share a tailored checklist.
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Vouching & testing
We test ledgers, bank reconciliations, GST/TDS compliances, and Section 44AB / CARO 2020 clauses.
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Queries & draft review
We discuss audit observations, proposed rectifying entries, and draft schedules directly with management.
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Signed report & UDIN
We issue the signed Audit Report / Form 3CD with ICAI UDIN and assist with portal upload and board adoption.
Common questions
When is a tax audit under Section 44AB mandatory?
For a business, a Section 44AB tax audit is required when turnover exceeds ₹1 crore, or ₹10 crore if aggregate cash receipts and cash payments each do not exceed 5% of total receipts and payments. For a profession, it is required when gross receipts exceed ₹50 lakh (or ₹75 lakh subject to the 5% cash condition). Specific rules also apply when opting out of presumptive taxation under Sections 44AD or 44ADA.
Does every registered company require a statutory audit?
Yes. Every private limited, public limited, One Person Company (OPC), and Section 8 company registered under the Companies Act, 2013 must have its financial statements audited every financial year by a Chartered Accountant, regardless of turnover or whether the company had active operations.
What is the timeline for appointing the first auditor of a new company?
Under Section 139(6) of the Companies Act, 2013, the Board of Directors must appoint the first statutory auditor within 30 days of incorporation (failing which members appoint within 90 days at an EGM). Following the July 2025 amendment to the Audit Rules, filing Form ADT-1 with the ROC within 15 days is mandatory even for the first auditor.
What is the difference between a statutory audit and an internal audit?
A statutory audit examines whether your annual financial statements give a true and fair view in compliance with accounting standards and the Companies Act. An internal audit is a management-focused review of your day-to-day operational controls, inventory, procurement, and revenue leakages, delivered with practical recommendations to fix process gaps.
Related guides & checkers
Check your company compliance status or read our guide on auditor appointments:
Other practice areas
Need a statutory, tax, or internal audit scoped?
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