Statutory audit
Audit of financial statements under the Companies Act, 2013 and the Standards on Auditing, including CARO reporting, internal financial controls reporting, and audit of consolidated financial statements.
OUR EXPERTISE
Assurance & Audit
Audit performed as evidence-gathering under the Standards on Auditing — with an opinion that means something.
Discuss your requirementsOUR APPROACH
Clear thinking.
Considered advice.
An audit opinion is a short sentence supported by a large body of work. Its value rests entirely on whether the work was performed with genuine scepticism, whether the evidence obtained was sufficient and appropriate, and whether the auditor was prepared to reach an uncomfortable conclusion.
We plan around risk and materiality determined from the entity’s own circumstances. Understanding the business and its control environment precedes substantive testing, because the risks drive the procedures.
We maintain professional scepticism where it is uncomfortable to do so — on management estimates, related-party transactions, revenue cut-off and going concern. These are where audit failures concentrate, and they receive proportionate attention.
We communicate throughout the audit rather than at the end of it. Significant findings, control deficiencies and disagreements are raised while they can still be examined, so the audit report contains no surprises for the board.
WHAT WE DO
The substance
of the work.
Audit performed as evidence-gathering under the Standards on Auditing — with an opinion that means something.
Tax audit and statutory certifications
Tax audit under Section 44AB, transfer pricing certification under Section 92E, GST reconciliation certification, and the range of certificates required by regulators, lenders and grant authorities.
Limited review and interim reporting
Quarterly and half-yearly limited reviews, reporting packages for group and overseas parent requirements, and agreed-upon procedures engagements on specific financial information.
Group and cross-border reporting
Component audits and reporting to group auditors, conversion and reporting under Ind AS and IFRS, and support for reporting into overseas parent frameworks including US GAAP.
Special purpose and regulatory audits
Audits mandated by regulators and lenders, stock and receivables audits, concurrent and revenue audits, grant and project utilisation audits, and audits under specific statutes.
Financial reporting advisory
Accounting position papers on complex or first-time transactions, revenue recognition and lease accounting under Ind AS, transition support on new standards, and financial statement preparation support.
WHO WE HELP
Is this the right
support for you?
- Companies requiring statutory audit and the reporting that accompanies it
- Indian subsidiaries reporting into overseas parents under IFRS or US GAAP
- Entities transitioning to Ind AS or adopting a materially new standard
- Lenders, regulators and boards requiring independent assurance on specific information
QUESTIONS WE ARE ASKED
Start with the decision
in front of you.
- Will our revenue recognition policy survive an audit under Ind AS 115?
- What will the auditor conclude on our internal financial controls?
- How do we report into a parent under a different GAAP without duplicating the whole close?
- Is our going concern assessment adequately supported?
DELIVERED THROUGH OUR NETWORK
Local expertise.
Clear responsibility.
Your engagement is contracted with, and signed by, a single member firm. Member firms in these locations lead on this practice.
Each member firm is a separate and independent legal entity practising in its own name under ICAI regulations.
CONNECTED EXPERTISE
Explore related practices.
LET’S START WITH YOUR QUESTION
Bring clarity to
your next decision.
Describe the assurance & audit matter you are facing. A partner from the relevant member firm will respond directly.