ICAI Standards on Auditing
Greater financial transparency and reliability of reports
Audit & Assurance
Audit & Assurance
Independent, risk-based audit and assurance services conducted in accordance with ICAI Standards on Auditing
OVERVIEW
What This Service Covers
The Audit & Assurance practice of this firm provides an independent and objective opinion on financial statements and internal controls, in accordance with Indian corporate laws and ICAI Standards on Auditing.
Every engagement is executed with strict independence, integrity, and confidentiality — underpinned by a structured engagement quality control review process.
The firm conducts audit engagements for companies, LLPs, trusts, NGOs, startups, and regulated entities. Sector-relevant audit procedures are designed in accordance with SA 315 and the risk profile of each engagement.
Companies Act & LLP Act
Stronger internal control and risk management frameworks
Internal Control & Risk Frameworks
Improved readiness for lenders, investors, and regulators
OUR OFFERINGS
Service Modules
Module Overview
Statutory Audit
The statutory audit is a legally required independent examination of a company’s financial statements under the Companies Act 2013. It applies to all registered companies regardless of size. The audit is conducted in accordance with all applicable ICAI Standards on Auditing and applicable law. Management observations on internal controls and governance matters are communicated through a management letter as part of the engagement deliverables.
The audit opinion is issued under SA 700 (Revised) and includes an Internal Financial Controls (IFC) opinion under Section 143(3)(i), CARO 2020 reporting, Key Audit Matters under SA 701 (listed entities), and audit trail compliance reporting under MCA Rule 11(g).
- Risk identification and assessment per SA 315 — entity, environment, and assertion level
- Materiality determination — planning and performance materiality per SA 320
- Test of controls and substantive procedures per SA 330
- Fraud risk assessment and reporting per SA 240
- Going concern evaluation per SA 570 (Revised)
- Key Audit Matters communication per SA 701 (listed companies)
- CARO 2020 — full 21-clause reporting for applicable companies
- IFC audit opinion under Section 143(3)(i) for all companies
- Audit trail (edit log) reporting per MCA Rule 11(g) — ICAI IG 2024
- Management letter with internal control observations
Service Scope & Frameworks
- ICAI Standards on Auditing
- Companies Act & LLP Act
- Internal Control & Risk Frameworks
- Data‑driven analytical procedures
Key Points
statutory audit servicescompany auditLLP auditCompanies Act auditfinancial statement audit
Next Step
Ensure Financial Accuracy & Compliance
Get an independent audit that builds trust with regulators, lenders, and investors.