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Audit & Assurance

Build trust with stakeholders through rigorous statutory, tax, and internal audits. We provide absolute transparency and strict regulatory compliance.

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The Firm Advantage

Why Choose Our Audit Services?

Enhanced Credibility

Our audit reports provide stakeholders, banks, and investors with the confidence that your financial statements are fair and accurate.

Risk Mitigation

We identify control weaknesses, process inefficiencies, and potential frauds before they severely impact your business operations.

100% Compliance

Avoid heavy penalties by ensuring your books meet all standards set by the Income Tax Act and Companies Act.

Comprehensive Audit Types

Whether mandated by law or required by investors, we offer specialized audit services to fit your exact needs.

  • Statutory Audit: Mandatory auditing under the Companies Act, 2013.
  • Tax Audit (Sec 44AB): For businesses crossing prescribed turnover thresholds.
  • Internal Audit: Deep dive into internal controls to improve operational efficiency.
  • GST Audit: Comprehensive reconciliation and auditing under GST regulations.

Our Process

  • Initial Planning & Risk Assessment
  • Evaluation of Internal Controls
  • Substantive Testing & Vouching
  • Drafting Observations & Queries
  • Final Audit Report Issuance
Target Audience

Who Requires an Audit?

Statutory and Tax audits are mandatory compliance measures designed to ensure that financial statements present a true and fair view of the business. You need our audit services if:

Registered Companies

Under the Companies Act, EVERY Pvt Ltd and Public company must undergo a Statutory Audit, regardless of turnover.

High Turnover Businesses

Businesses with sales exceeding ₹1 Crore (or ₹10 Crore if 95% transactions are digital) require a Tax Audit under Sec 44AB.

Professionals

Professionals (Doctors, Lawyers, Architects) whose gross receipts exceed ₹50 Lakhs in a financial year.

Loss Declarations

Entities opting for presumptive taxation but claiming profits lower than the prescribed limits require auditing.

Our Comprehensive Audit Methodology

1

Audit Planning

We analyze your internal controls, accounting software, and business environment to tailor our audit plan.

2

Fieldwork & Vouching

We verify ledgers, invoices, bank statements, and inventory to ensure compliance with Accounting Standards.

3

Query Resolution

We discuss discrepancies, missing vouchers, and compliance gaps with management for rectification.

Final Audit Report

We issue the Independent Auditor's Report and file Form 3CA/3CB and 3CD to the Income Tax portal.

Penalty For Missing Tax Audit

Ignoring a mandatory Tax Audit is an expensive mistake. Under Section 271B of the Income Tax Act, if a taxpayer fails to get their accounts audited or fails to furnish the audit report, the Assessing Officer may impose a penalty of 0.5% of the total sales/turnover, up to a maximum of ₹1,50,000.

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Frequently Asked Questions

Under Section 44AB of the Income Tax Act, a business must get a tax audit if its total sales, turnover, or gross receipts exceed Rs. 1 Crore (or Rs. 10 Crores if 95% of transactions are digital) in the financial year. Professionals must get an audit if gross receipts exceed Rs. 50 Lakhs.

Yes. Every Private Limited Company, One Person Company, and Public Limited Company must get its books of accounts audited by a practicing Chartered Accountant, regardless of its turnover or capital.

Ensure Absolute Transparency

Partner with CA SANDEEP ASHISH & CO. for rigorous, independent, and insightful audits.

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