Audit & Assurance
Audit & Assurance
We conduct rigorous statutory, internal, and tax audits in accordance with applicable professional standards to ensure transparency, compliance, and strong internal controls in Srinagar, Kashmir and across the world.
Our Capabilities Include:
- Statutory Audit of Companies, Limited Liability Partnerships (LLPs), Partnership Firms, Trusts, and Societies.
- Tax Audit under the provisions of the Income-tax Act.
- Internal Audit, operational reviews, and process improvement recommendations to strengthen internal controls.
- Concurrent Audit, Management Audit, Stock Audit, and Revenue Audit assignments.
- Due Diligence and financial review for business acquisitions, investments, mergers, and restructuring.
- Certification engagements required under the Companies Act, Income-tax Act, GST laws, FEMA, and for financial institutions.
- Verification of books of account, financial statements, and internal financial controls.
- Professional assistance in relation to audit observations, regulatory compliance, and implementation of audit recommendations.
Our Approach to Auditing
We view an audit not just as a statutory obligation, but as a critical diagnostic tool for your business. Our methodology goes beyond surface-level ticking and tying. We conduct exhaustive analysis on your general ledgers, perform detailed bank reconciliation statements (BRS), and test the strength of your internal controls. This allows us to provide management with actionable insights that prevent fraud, eliminate systemic errors, and improve operational efficiency.
Frequently Asked Questions
Is a statutory audit mandatory for a Private Limited Company?
Yes. Under the provisions of the Companies Act, 2013, every private limited company must appoint a statutory auditor and undergo an annual audit from its very first financial year, irrespective of its turnover, capital contribution, or whether it has incurred a loss.
How should we prepare for an upcoming statutory or tax audit?
To ensure a smooth and efficient audit process, management should ensure that all books of account are updated, bank reconciliation statements (BRS) are completed, statutory dues (such as TDS, PF, and GST) are deposited, and all supporting invoices and contracts are organized. Our firm provides a detailed audit checklist to clients well in advance of the engagement.
Discuss Your Requirements
If you require assurance services, due diligence, or statutory audits, we would be pleased to assist you.
