Statutory & Tax Audit
An audit opinion is read by bankers, investors, and the department long after it is signed. We plan the work, test what matters, and report the position as it stands.
What this area handles
Statutory audit under the Companies Act, 2013 examines whether financial statements give a true and fair view. We plan each engagement around the account balances and processes where misstatement is likely. Testing follows the Standards on Auditing issued by the Institute of Chartered Accountants of India. Financial statements are prepared to Schedule III presentation and the applicable framework, either Accounting Standards or Indian Accounting Standards, depending on the company. Reporting includes the matters the Companies (Auditor's Report) Order, 2020 requires and the internal financial control comment under Section 143(3)(i). Tax audit under Section 44AB of the Income-tax Act, 1961 is a separate exercise with its own reporting format. Form 3CD covers disallowances, related-party payments, TDS compliance, loans and deposits, and the reconciliation between books and returned income. We complete both in one pass where the same entity needs each, so that the two reports agree. Other assurance work includes limited reviews, certification for banks and regulators, GST reconciliation support, and trust or society audits. Where an audit uncovers a compliance failure, we set out the correction route before the report is signed.
What this covers
Who this is for
MSMEs & Mid-Market Enterprises
Statutory audit, direct tax, GST returns, and the month-by-month compliance calendar that arrives as an owner-run business adds scale and staff.
Multinational Subsidiaries & India Entry
Subsidiary, branch, and liaison office setup, FEMA compliance, FDI and ODI reporting, and transfer pricing documentation for related-party transactions.
Growth-Stage Startups
Cap table maintenance, priced-round and SAFE documentation, ESOP grant and administration, and the compliance calendar that follows each funding round.
Statutes and regulations engaged
Typical questions we are asked
Our turnover crossed the threshold. Do we now need a tax audit?
Can the same firm carry out our statutory audit and our tax audit?
What will the auditor ask for, and how long does the process take?
We restated last year's numbers. How is that reported?
Related practice areas
Internal Audit & Risk
Process testing, control design, and reporting to the audit committee or board.
Direct Taxation
Corporate and personal income tax positions, returns, withholding, and departmental representation.
See the full list of practice areas for every area the firm handles.
Discuss Statutory & Tax Audit
Describe the position you are in and the decision in front of you. You will hear back from the person who would handle the file.