Chartered Accountants • Chennai Chambers 3, Periannamestri Street, Periamed, Chennai 600002
[email protected] ICAI FRN: [00XXXXS]
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Practice Vertical I • Companies Act, 2013 & SAs

Audit & Assurance

Objective, independent financial attestation and internal control evaluations governed by Standards on Auditing (SAs) issued by The Institute of Chartered Accountants of India.

Executive Scope Overview

  • Statutory Audits under Section 139 & Section 143 of the Companies Act, 2013, including CARO 2020 reporting and Rule 11(g) audit-trail verification.
  • Tax Audits under Section 44AB of the Income-tax Act, 1961 (Form 3CA/3CB and comprehensive 44-clause Form 3CD verification).
  • Risk-based Internal Audits, Stock & Receivable Audits, Concurrent Bank Audits, and Trust / NGO Audits (Form 10B / 10BB).
  • Every audit report and financial attestation carries a mandatory Unique Document Identification Number (UDIN) verifiable on the ICAI portal.

Detailed Engagement Deliverables

Mandate 01

Statutory Audit under Companies Act, 2013

Examination of standalone and consolidated financial statements prepared under Accounting Standards (AS) or Ind AS, evaluating internal financial controls over financial reporting (IFCoFR), CARO 2020 clauses, and accounting software audit-trail integrity.

Mandate 02

Income Tax Audit (Section 44AB)

Detailed clause-by-clause scrutiny for Form 3CD, covering depreciation schedules u/s 32, TDS compliance under Chapter XVII-B, Section 43B & 43B(h) MSME timelines, Section 269SS/269T loan compliances, and GST expense reconciliations (Clause 44).

Mandate 03

Risk-Based Internal & Operational Audit

Evaluation of procurement-to-pay, order-to-cash, inventory controls, treasury safeguards, and statutory compliance frameworks with actionable management letters for Boards and Partners.

Mandate 04

Charitable Trust, Society & Section 8 Audits

Audit of institutions registered under Sections 12AB and 80G of the Income-tax Act, 1961, preparing Form 10B / Form 10BB and verifying application of income and corpus utilization.

Frequently Asked Statutory Questions

When is a Tax Audit mandatory under Section 44AB of the Income-tax Act, 1961?
A business is generally subject to Tax Audit u/s 44AB if turnover exceeds Rs. 1 Crore (or Rs. 10 Crore where aggregate cash receipts and cash payments each do not exceed 5% of total receipts and payments respectively), or Rs. 50 Lakhs for specified professions, subject to presumptive taxation provisions u/s 44AD/44ADA.
What is Rule 11(g) Audit Trail verification during a Statutory Audit?
Under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014, every company must use accounting software having a feature of recording an audit trail (edit log) of every transaction, ensuring it operated throughout the financial year without being disabled and is preserved as per statutory record-retention norms.
Are all certificates and audit reports issued with UDIN?
Yes. In strict compliance with ICAI mandates, every audit report and statutory certificate issued by our Partners bears a verifiable 18-character Unique Document Identification Number (UDIN).