Professional Audit Solutions
Audit & Assurance Services
Comprehensive audit services including statutory audits, internal audits, and financial assurance for regulatory compliance. Expert chartered accountant guidance for all audit requirements.
Comprehensive Audit & Assurance Solutions
Audit and assurance services are critical for maintaining financial integrity, regulatory compliance, and stakeholder confidence. Our qualified chartered accountants provide comprehensive audit services that meet statutory requirements while adding value to your business operations.
From statutory audits mandated by law to internal audits that strengthen your business controls, we deliver professional, thorough, and timely audit services. Our approach combines regulatory compliance with practical business insights to help improve your organization's financial processes and risk management.
Our Audit & Assurance Services
Statutory Audit
- • Companies Act 2013 compliance audit
- • Financial statement verification
- • Board resolution and minute book review
- • Internal control evaluation
- • Audit report preparation and filing
Internal Audit
- • Process efficiency evaluation
- • Risk assessment and management
- • Internal control testing
- • Operational audit and review
- • Management reporting and recommendations
Tax Audit
- • Income Tax Act compliance audit
- • Tax audit report (Form 3CD) preparation
- • Transfer pricing documentation
- • Tax compliance verification
- • Assessment support and representation
Due Diligence
- • Financial due diligence for transactions
- • Vendor and partner verification
- • Compliance due diligence
- • Risk assessment and evaluation
- • Investment decision support
Bank Audit
- • Concurrent audit of bank branches
- • Credit audit and loan verification
- • System and control audit
- • Regulatory compliance verification
- • Risk management assessment
Stock Audit
- • Physical inventory verification
- • Stock valuation and pricing audit
- • Inventory management system review
- • Obsolete and slow-moving stock analysis
- • Insurance and bank requirement audits
Our Professional Audit Process
Engagement Planning & Risk Assessment
We begin with understanding your business, industry, and regulatory environment. Our team conducts preliminary risk assessment and develops a comprehensive audit plan tailored to your organization's specific requirements.
Timeline: 2-3 days
Internal Control Evaluation
We evaluate your internal control systems, accounting procedures, and compliance mechanisms. This helps identify potential risks and areas for improvement before detailed testing begins.
Timeline: 3-5 days
Detailed Testing & Verification
Our chartered accountants perform detailed testing of transactions, account balances, and supporting documentation. We use sampling techniques and analytical procedures to ensure comprehensive coverage.
Timeline: 7-15 days (varies by company size)
Findings Analysis & Recommendations
We analyze audit findings, discuss observations with management, and provide practical recommendations for improving financial controls, compliance, and operational efficiency.
Timeline: 2-3 days
Report Preparation & Filing
We prepare comprehensive audit reports in compliance with applicable standards and regulations. All required filings with regulatory authorities are completed within prescribed timelines.
Outcome: Complete audit compliance and certification
Who Requires Audit Services?
Statutory Audit Requirements
- • All companies (public and private limited)
- • LLPs with contribution above ₹25 lakhs or turnover above ₹40 lakhs
- • Companies with paid-up capital above ₹50 lakhs
- • Companies with turnover above ₹2 crores
- • Holding/subsidiary companies
- • Government companies and PSUs
Tax Audit Requirements
- • Business turnover above ₹1 crore
- • Professional receipts above ₹50 lakhs
- • Presumptive taxation with lower profit margins
- • International transactions above specified limits
- • Companies claiming tax exemptions
- • Transfer pricing documentation requirements
Benefits of Professional Audit Services
Regulatory Compliance
Ensure full compliance with Companies Act, Income Tax Act, and other applicable regulations to avoid penalties and legal complications.
Enhanced Credibility
Professionally audited financial statements enhance credibility with banks, investors, suppliers, and other stakeholders.
Risk Management
Identify and mitigate financial risks, improve internal controls, and strengthen operational efficiency through professional audit insights.
Business Improvement
Receive valuable recommendations for improving processes, reducing costs, and enhancing overall business performance and governance.
Frequently Asked Questions
What is the difference between statutory audit and tax audit?
Statutory audit is conducted under the Companies Act to verify financial statements and ensure compliance with accounting standards. Tax audit is conducted under the Income Tax Act to verify tax compliance and is required for businesses above specified turnover limits.
How long does a statutory audit take?
The duration depends on company size and complexity. Typically, statutory audits take 2-4 weeks for small to medium companies and can extend to 6-8 weeks for larger organizations with multiple locations or complex transactions.
What documents are required for audit?
Basic requirements include books of accounts, vouchers, bank statements, financial statements, board resolutions, contracts, and statutory registers. We provide a detailed checklist based on your specific audit requirements.
Can the same CA firm do both audit and accounting?
For statutory audit, independence requirements restrict the auditor from maintaining books of accounts. However, internal audit, tax audit, and other assurance services can be provided along with accounting services.
What happens if audit is not completed on time?
Late filing of audit reports attracts penalties and may result in non-compliance status. Our team ensures timely completion and filing of all audit reports within regulatory deadlines.
Do you provide audit services for banks and financial institutions?
Yes, we provide concurrent audit, system audit, and credit audit services for banks and financial institutions. Our team has experience with RBI guidelines and banking regulations.
Get Audit & Assurance Services Quote
Contact our chartered accountants for professional audit & assurance services services.
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Office Hours:
Monday - Saturday
10:00 AM - 7:00 PM
Related Services
Professional Tip
Regular internal audits help identify financial risks and improve internal controls before statutory audits, ensuring smoother compliance and better business operations.
Ready for Professional Audit Services?
Ensure regulatory compliance and financial integrity with our comprehensive audit and assurance services. Expert chartered accountant guidance for all your audit requirements.
Professional audit & assurance services services in Virar, Maharashtra | Call: +91-7709-162152