Audit & Assurance Services in India
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Comprehensive Audit & Assurance Services in Bangalore!
Handling your finances while running a business is already challenging enough, when you add regulatory compliance, internal audits, and financial scrutiny into the equation, it can get overwhelming and disrupt your operations.
We understand, we follow a structured audit process while keeping up with ever-changing statutory, tax, and regulatory requirements. We take conducting detailed audits off your plate, without any inaccuracies and overlooked financial risks. Before we jump into what we offer, here’s why you need to conduct regular, structured audits:
- Reducing revenue leakages and optimizing costs to improve profitability.
- Eliminating the risk of legal penalties, by meeting all statutory, tax and TP audit requirements.
- Identify and eliminate financial discrepancies, securing your financial system.
- With data-driven insights from audits, improve cash flow management and optimize financial strategies.
- Clean audit reports attract investors, secures funding, and strengthens market reputation.
Explore Our Audit & Assurance Services
Financial & Internal Audits
With our structured internal audits, we will help you identify inefficiencies, prevent fraud, and improve financial health.
What We offer Under Financial & Internal Audits
- An Internal Audit with in-depth analysis on financial operations, risk assessment, and compliance checks.
- Keep inventory losses in check with accurate stock verification, minimizing discrepancies with our Stock Audit.
- Fixed Assets Verification to avoid asset mismanagement with precise tracking.
Statutory Audits
For companies and LLPs, we offer mandatory Statutory Audits as per the Companies Act 2013 that provide transparency and help avoid legal penalties.
Tax Audits
With our expert-led audits, you can stay compliant with tax laws and optimize tax strategies.
- Identify discrepancies, and stay compliant with the latest tax regulations with our Tax Audit as per IT Act 1961.
- For domestic and international entities, our Transfer Pricing Audit (TP Audit) ensures fair pricing in cross-border transactions and compliance with OECD guidelines.
Why Choose Prashashti for Audit & Assurance Services in India?
Save Money & Improve ROI
Not only will you save money with our affordable packages, it is a long term investment. The penalties and reputational damage far outweigh the cost of an audit.
Save Time and Resources
Handling audits in-house is time-consuming and resource-intensive. We help you reduce administrative burdens.
No More Complex, Tedious Process
To take care of the complex regulations, handle calculations, and handle documentation is our job. You can stay compliant without any burdens
Zero Risk & Complete Transparency
We offer complete transparency on what we do and our professional auditors will make sure this process isn’t risky in any way possible.
Book A Call With Our Experts
Reach Us At
+91 9606496418
FAQs about Audit & Assurance Services
What is the role of the internal audit?
An internal audit provides independent and objective assurance that an organization’s risk management, governance, and internal control processes are functioning effectively. This helps ensure compliance, prevent fraud, and support the organization in achieving its strategic goals.
Who can conduct a stock audit?
A stock audit must be conducted by a qualified Chartered Accountant (CA) or Cost Accountant (CMA), or a firm registered with the Institute of Chartered Accountants of India (ICAI) or the Institute of Cost Accountants of India (ICMAI).
Is physical verification of fixed assets mandatory?
Yes, physical verification is essential for organizations to comply with regulatory requirements and maintain accurate financial records. Various legal and statutory frameworks mandate periodic physical verification of fixed assets to ensure transparency and accuracy in financial reporting.
What comes under a statutory audit?
A statutory audit is a formal inspection of an organization’s financial statements and records by an external auditor. It assesses whether financial statements accurately represent the company’s financial position and comply with legal and regulatory requirements. Unlike internal audits, a statutory audit is not voluntary but legally mandated.
Which companies require statutory audit?
Every private limited company is required to undergo a statutory audit, regardless of its turnover or profitability. Even if a company incurs a loss, it must still conduct a statutory audit to ensure compliance with corporate laws and financial regulations.