Audit & Assurance

We provide statutory audit services across three key frameworks — audit under the Companies Act, audit under the Income Tax Act (tax audit), and audit under the GST Act. Each serves a distinct compliance purpose and we guide you through what applies to your business.

It depends on your business structure and turnover. For example, all companies registered under the Companies Act require a statutory audit regardless of turnover, while tax audits under the Income Tax Act are triggered once your turnover crosses the prescribed threshold. We will assess your specific situation and advise accordingly.

A tax audit is mandatory if your business turnover exceeds ₹1 crore in a financial year (or ₹10 crore if cash transactions are less than 5% of total receipts and payments). For professionals, the threshold is ₹50 lakh of gross receipts. Businesses that opt for presumptive taxation under Section 44AD but declare income below the prescribed percentage are also required to get a tax audit done. The audit must be completed and Form 3CB-3CD or 3CA-3CD filed by September 30 of the assessment year.

An internal audit is an independent review of your internal controls, financial processes, risk management, and operational efficiency. Under the Companies Act, internal audit is mandatory for all listed companies, public companies with paid-up capital above ₹50 crore or turnover above ₹200 crore, and private companies with turnover above ₹200 crore or outstanding loans above ₹100 crore. Even if not mandatory, we strongly recommend internal audits for growing businesses as they identify inefficiencies, fraud risks, and control gaps before they become serious problems.

Under the GST framework, a departmental GST audit can be initiated by the GST authorities at any time to verify the correctness of turnover, taxes paid, refunds claimed, and ITC availed. In addition, taxpayers with annual aggregate turnover exceeding ₹2 crore were previously required to get a GSTR-9C (reconciliation statement) certified by a CA, though this requirement was made self-certified from FY 2020-21 onwards. We help you prepare accurate GSTR-9 annual returns and GSTR-9C reconciliation statements to minimise audit exposure.

The duration depends on the size and complexity of your business — typically ranging from 1 to 3 weeks for small companies to several weeks for larger, multi-entity structures. You will need to provide access to your accounting software, bank statements, invoices, expense records, payroll data, contracts, and board minutes. We send you a detailed checklist in advance to ensure the process is smooth and does not disrupt your day-to-day operations.

Yes. Audited financial statements are a prerequisite for most bank loans and credit facilities. For fundraising from investors, audited financials lend credibility and are typically mandatory in the due diligence process. We ensure our audit reports are comprehensive, clearly presented, and prepared in a format that meets the requirements of lenders, investors, and regulatory bodies.

You can get started by contacting us through our website or via phone or email. We will schedule a consultation to discuss your audit needs and provide a customized solution.