Audit and Assurance

Auditing is the independent examination of financial transactions of any enterprise, whether profit oriented or not & irrespective of its size or legal form, when such an examination is conducted with a view of expressing an opinion there on.

An audit seeks to obtain reasonable assurance that the financial statements are free from material misstatements. We, as auditors, understand client’s internal controls, accounting procedures, accounting policies & identify areas of risk & determine the nature, extent & timing of audit required. We plan for the audit & work the plan.
Some of the audits covered like:

STATUTORY AUDITS:

We undertake statutory audit of both private & public limited companies as required under Companies Act, 2013. Our team gives importance to Accounting Standards, Standards on Audit, Corporate Governance Matters, other statutory matters including company law, accounting policies, GAAP etc.

TAX AUDIT:

Every person who is carrying on business whose turnover  exceeds `1 Crore or in case of profession if his gross receipts exceeds `25 Lakhs in any Financial year, has to get his accounts audited by a Chartered Accountant before 30th September of relevant Assessment year, as per Sec. 44AB of Income Tax Act, 1961.

VAT AUDIT:- 

Every dealer whose total turnover in a year exceeds `1 Crore has to get his accounts audited by a Chartered Accountant or a Cost Accountant or a Tax Practioner as per Sec 31(4) of The Karnataka Value Added Tax Act, 2003.

Management Audits AUDIT:- Refer Management Consultancy Services.