Practice Focus
Audit and Assurance in Bangalore
Statutory, tax, internal and bank audits, carried out under the Standards on Auditing issued by ICAI.
Overview
Scope and advisory approach
We carry out statutory audits, tax audits, internal audits and bank audits. The work follows the Standards on Auditing (SAs) issued by ICAI and the rules that apply to each entity. The result is an independent opinion on your financial information.
What is covered
- Statutory audit of companies under the Companies Act, 2013
- Tax audit under the Income-tax Act, including the audit report
- Internal audit and a review of internal controls
- Bank audits
Who it is for
Companies, firms, LLPs, factories, trusts and societies in Bangalore and Karnataka. Some need an audit by law. Others choose one.
FAQ
Common questions on audit and assurance
What is a statutory audit?
It is an audit the law requires. Every company registered under the Companies Act, 2013 must have its financial statements audited each year, whatever its turnover. The auditor is a practising Chartered Accountant or a CA firm appointed by the company. LLPs, trusts, societies and co-operatives may need audits under their own laws.
Who needs a tax audit?
Broadly: a business with turnover above Rs. 1 crore, or Rs. 10 crore if cash receipts and cash payments are each within 5% of the total. A professional with gross receipts above Rs. 50 lakh. Some presumptive taxation cases that declare lower profits. For tax years starting on or after 1 April 2026, the rule is in section 63 of the Income-tax Act, 2025. The report is filed in Form No. 26, which replaces Forms 3CA, 3CB and 3CD.
How is an internal audit different from a statutory audit?
A statutory audit is required by law. It ends with an independent opinion on whether the accounts give a true and fair view. An internal audit is an ongoing check of processes, controls and risks, done for the management. The Companies Act, 2013 also requires some classes of companies to appoint an internal auditor.
What documents are usually needed for an audit?
Usually the books of accounts and ledgers, bank statements, the fixed asset register, stock records, sales and purchase invoices, GST and TDS returns, loan papers and agreements, and last year's audited accounts. Companies also need their statutory registers and minutes. The exact list depends on the entity and the type of audit.
General statutory information as of current tax year, not formal professional advice. Limits and due dates change, so confirm with official notifications or consult us for your specific matter. See our Compliance Calendar for upcoming statutory deadlines.
Consult on Audit and Assurance
Speak directly with CA Ashok Surana or our practice team in Bangalore regarding your audit and assurance requirements.
Direct Office: +91 88844 00109 · Mon to Sat from 9:30 AM