Statutory Auditing

Our Statutory Auditing Services Include:

1. Financial Statement Audits

• Annual Financial Audits: Our team conducts comprehensive audits of your financial statements, including the balance sheet, profit & loss account, and cash flow statement, to ensure compliance with accounting standards and regulations (e.g., Indian GAAP, IFRS).

• Audit of Consolidated Financial Statements: We audit consolidated financial statements of companies with subsidiaries, ensuring that the consolidated accounts are in line with legal requirements and reflect the financial health of the entire group.

• Revenue & Expense Verification: We verify the accuracy of revenue and expenses, ensuring that they are appropriately recorded in accordance with the applicable accounting standards and taxation laws.

2. Compliance with Regulatory Framework

• Companies Act, 2013 Compliance: We ensure that your financial statements comply with the provisions of the Companies Act, 2013, including maintaining statutory registers, books of accounts, and proper disclosures.

• Income Tax Act, 1961 Compliance: Our audit services ensure that your organization complies with the provisions of the Income Tax Act, including tax treatment of expenses, provisions for taxation, and correct reporting of income.

• Other Statutory Compliance: We also review compliance with other statutory requirements such as GST, VAT, Customs, and Labour Laws, ensuring that the organization adheres to all legal frameworks relevant to its operations.

3. Internal Controls Evaluation

• Risk Assessment & Controls Review: Our team evaluates your internal control systems, assessing the effectiveness of policies and procedures designed to prevent fraud, errors, and financial misstatements.

• Financial & Operational Audits: We conduct operational and financial audits to review the efficiency of your operations and provide recommendations for improving internal controls, optimizing costs, and increasing profitability.

4. Fraud Detection & Prevention

• Fraud Risk Analysis: During the statutory audit, we assess the risk of fraudulent activities, including misappropriation of funds, accounting errors, and non-compliance with legal provisions.

• Internal Fraud Investigation: If any irregularities or fraudulent activities are suspected, we conduct forensic investigations to identify the root cause, trace the source of financial misstatements, and take corrective actions.

• Preventive Measures: We recommend measures to prevent future fraud, such as strengthening internal controls, improving governance practices, and enhancing transparency.

5. Audit of Taxation and Reporting

• Tax Compliance Audits: We verify that the organization’s tax reporting is accurate and in compliance with the Income Tax Act, GST laws, and other applicable tax regulations. This includes ensuring the correct filing of tax returns and tax payments.

• Tax Deducted at Source (TDS) Compliance: We review the organization’s TDS procedures and ensure that the correct deductions are made and reported, and that there are no errors in remitting TDS to the tax authorities.

• Transfer Pricing Compliance: We ensure that the organization complies with transfer pricing laws, including the documentation requirements for intercompany transactions.

6. Audit of Financial Systems

• Systems & Processes Audit: We evaluate the organization’s financial systems, accounting software, and record-keeping processes to ensure that they are functioning properly and in compliance with regulatory standards.

• Accounting Policies & Procedures: We review the organization’s accounting policies and procedures to ensure consistency, transparency, and adherence to accounting standards.

7. Reporting & Documentation

• Audit Report Preparation: After completing the audit, we prepare a detailed audit report, highlighting key findings, weaknesses in financial processes, and recommendations for improvements.

• Management Letters: We provide management letters outlining audit observations, weaknesses in internal controls, and suggestions for improving financial systems and governance.

• Compliance Certificates: We assist in preparing various compliance certificates that may be required by regulatory authorities, investors, or banks.

8. Assistance with Statutory Filings

• ROC Filings: We help ensure timely and accurate filings with the Registrar of Companies (ROC), including annual financial statements, annual return filings, and other statutory disclosures as per the Companies Act, 2013.

• Tax Filings: We assist in filing statutory tax returns, including Income Tax, GST, and TDS, ensuring that the company meets all required deadlines and avoids penalties.

9. Audit for NGOs & Non-Profit Organizations

• NGO Audits: For NGOs and non-profit organizations, we offer specialized statutory audits to ensure compliance with regulations governing charitable organizations, including the Income Tax Act and FCRA (Foreign Contribution Regulation Act).

• Donations & Grants Compliance: We ensure that donations and grants are properly accounted for and that they are used according to the organization’s objectives and in compliance with applicable laws.

10. Other Statutory Audits

• Industry-Specific Audits: We provide audits for various industries, ensuring compliance with specific regulatory frameworks relevant to the sector, such as banking, insurance, manufacturing, healthcare, and more.

• Special Statutory Audits: We offer audits for special requirements, such as mergers and acquisitions, company liquidation, and audits mandated by government agencies.