Audit & Assurance

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Category Index (3 Sections)

Practice Overview

Audit & AssuranceServices & Regulatory Framework

Chartered Accountancy services in Raipur, Chhattisgarh & Kalahandi, Odisha. Partner-led engagement ensuring full statutory compliance under applicable laws.

Audit is the part of a Chartered Accountant's work that the law specifically reserves. A company's accounts cannot be adopted without a statutory audit, a business exceeding turnover thresholds cannot file its return without a tax audit, a charitable trust loses its tax exemption without an audit report, and funds cannot leave a RERA real estate project's designated escrow account without a Chartered Accountant's certificate. In each case the obligation is statutory, and in each case it is the auditor's own name, registration, and Unique Document Identification Number (UDIN) on the report.

Which audits apply to a particular organisation requires careful statutory assessment. A company requires a statutory audit from its first year regardless of size, but may or may not require a tax audit. An LLP requires a statutory audit only when turnover crosses ₹40 Lakhs or contribution crosses ₹25 Lakhs. A charitable trust requires an audit even with zero tax payable. Establishing the exact statutory position correctly is where an engagement begins.

We conduct audits for companies, LLPs, partnership firms, trusts, societies and real estate promoters across Raipur and Chhattisgarh, and for clients in Odisha through our Kalahandi office.

Core Practice Areas

Tax Audit under Section 44AB

Applicability assessment under Section 44AB (€1 Cr / ₹10 Cr turnover limits), cash-transaction percentage verification, presumptive schemes (44AD/44ADA), and electronic filing of Form 3CA-3CD and Form 3CB-3CD with UDIN.

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Statutory Audit in Raipur

Statutory audit under Section 139 & 143 of the Companies Act, 2013, CARO 2020 clause-by-clause reporting, internal financial controls over financial reporting (IFCoFR), and accounting software audit trail verification.

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Internal Audit Services

Mandatory internal audit under Section 138 of the Companies Act, 2013 and management-driven internal audits for inventory control, multi-location godowns, procurement SOPs, cash collections, and fraud risk mitigation.

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Certification Services

Statutory financial certificates for bank loan sanction, net worth verification, tender bidding, Form 15CB foreign remittance withholding tax, and government subsidy disbursements with mandatory ICAI UDIN.

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Trust, Society & NGO Audit

Statutory audit for charitable trusts, societies and Section 8 companies under Section 12A(1)(b)(ii) in Form 10B and Form 10BB, 85% income application compliance, Form 10BD donation filings, and ITR-7 finalisation.

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📍 Pandri, Raipur Practice Headquarters

Consult CA in Raipur for Audit & Assurance

Visit our Head Office at GF-28, Shyam Plaza, Pandri, Raipur or connect directly with our Chartered Accountant partners for end-to-end statutory support.

🏛️ CA in Raipur Hub →📞 +91 86978 14116

Does my company need an audit if it has not started trading?

Yes. A statutory audit under Section 139 of the Companies Act, 2013 is mandatory for every company from its very first financial year, with no exemption based on turnover, size, or business activity. A dormant company or one incorporated in advance of operations still requires a statutory audit and must file audited financials in Form AOC-4 with the MCA.

What is the difference between a statutory audit and a tax audit?

They arise under different statutes and serve different stakeholders. A statutory audit is mandated by the Companies Act, 2013 for all companies and reports to shareholders on whether financial statements reflect a 'true and fair view'. A tax audit is mandated by Section 44AB of the Income-tax Act, 1961 once turnover crosses specified thresholds (₹1 Cr / ₹10 Cr), and reports to the Income Tax Department in Form 3CA/3CB-3CD. An entity can require one, both, or neither.

When do audit reports need to be completed and filed?

For companies, audited financial statements must be laid before shareholders at the Annual General Meeting (AGM) by 30th September. The tax audit report under Section 44AB is due by 30th September of the assessment year (or 31st October for transfer pricing cases), exactly one month prior to the ITR filing due date (31st October). For charitable trusts, Form 10B/10BB must be filed by 30th September.

Can the same CA firm perform our statutory audit and our internal audit?

No. Section 144 of the Companies Act, 2013 strictly prohibits the statutory auditor of a company from providing internal audit services, accounting/bookkeeping, or investment advisory to the same company. The two functions are designed to maintain independent oversight. Where we act as statutory auditors, we do not conduct internal audit, and vice versa.

Our accounts are behind. Can you still conduct an audit?

Yes, but the first step is bringing the accounting books to an audit-ready state — completing bank reconciliations, vendor/customer balance confirmations, stock verification, and statutory tax reconciliations. We structure the engagement to regularise the underlying accounting before performing substantive audit testing.

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