Audit and assurance services
An audit gives owners, lenders and authorities independent assurance on financial statements. We carry out statutory and tax audits with attention to the risks specific to your business, and our internal and information systems audits look at the controls behind the numbers. Information systems audit draws on CA Anamika Jain's DISA qualification.
What this covers
- Statutory audit under the Companies Act
- Tax audit under Section 63 of the Income-tax Act, 2025 (Section 44AB of the 1961 Act)
- Internal audit and process reviews
- Information systems audit and IT general controls review
- Stock and receivables audits for banks
- Audit of trusts, societies and LLPs
The Income-tax Act, 2025 applies to income from 1 April 2026. Returns, audits and assessments for earlier years continue under the Income-tax Act, 1961, so section and form references depend on the year involved.
How the work is done
- Understand the business and assess risk areas
- Plan the audit and agree timelines
- Test transactions, balances and controls
- Discuss findings and issue the report
Documents usually needed
- Books of account and trial balance
- Bank statements and confirmations
- Fixed asset and inventory records
- Previous year's audit report
Frequently asked questions
When is a tax audit required?
When a business's turnover exceeds ₹1 crore, raised to ₹10 crore where cash receipts and payments are within 5% of the total. Professionals need one when gross receipts exceed ₹50 lakh, with other cases also specified in the law.
What does an information systems audit cover?
It reviews access controls, change management, data backup and the reliability of systems that produce financial data.
How long does a statutory audit take?
It depends on the size of the business and how ready the books are. Well-maintained books shorten the process considerably.