Statutory audit
Audit and attest engagements under the Companies Act, 2013 and the Income-tax Act.
Company audit
Every company registered under the Companies Act, 2013 must have its accounts audited, whatever its turnover. That includes one person companies and companies with no revenue. The auditor's report is filed with the Registrar of Companies along with the financial statements.
- Planning, testing and audit evidence in line with the Standards on Auditing
- Review of financial statements and disclosures
- Reporting under the Companies (Auditor's Report) Order, 2020, where it applies
- Communication of observations to those in charge of the company
Tax audit
A tax audit is required where turnover or receipts cross the specified limits, and in some presumptive taxation cases. The requirement sits in section 44AB of the 1961 Act, which becomes section 63 of the Income-tax Act, 2025 from tax year 2026-27.
Other attest work
Certificates required by banks, regulators and government departments are issued on the basis of records examined.
Independence
An auditor cannot provide the services restricted by section 144 of the Companies Act, 2013 to an audit client. Engagements are accepted subject to these rules and the ICAI Code of Ethics.
Discuss an audit
Enquiries by telephone or email are answered during working hours.