AuditING & assurance services

Audit is not just a statutory requirement—it is a vital tool for enhancing financial transparency, improving business processes, and strengthening internal control mechanisms. At Bansal Sandeep & Co., we conduct audits with an insightful approach that goes beyond compliance. Our focus is to deliver value-added observations, identify inefficiencies, prevent revenue leakages, and recommend practical improvements. Backed by industry experience and adherence to professional standards, we ensure that your financial statements truly reflect the financial health and integrity of your business.

Scope of Our Audit Services Includes:

  • In-depth study of existing systems, procedures, and controls to understand operational workflows and suggest improvements.

  • Ensuring compliance with internal policies, statutory laws, and industry regulations through structured checks and audits.

  • Comprehensive review of financial statements to ensure they are prepared as per Generally Accepted Accounting Principles (GAAP), Indian Accounting Standards (Ind AS), or IFRS, as applicable.

  • Verification of the authenticity of expenses and revenues booked in the books of accounts.

  • Identification of process inefficiencies and internal control weaknesses across departments and operations.

  • Detection and prevention of income leakages along with recommendations for strengthening control systems.

  • Certification of books of accounts for accuracy and conformity with financial statements (Balance Sheet & Profit and Loss Account).

  • Issuance of audit reports, certificates, and compliance documents under applicable laws and regulations.

  • Support during statutory and regulatory inspections by government authorities, banks, or stakeholders.

Types of Audits Conducted:

  • Statutory Audit of Companies – As per the Companies Act, 2013 for private/public limited companies.

  • Tax Audit under Section 44AB of Income Tax Act – For individuals, firms, and companies crossing the specified turnover or profit thresholds.

  • Audits under other Income Tax Sections – Including Sections 80-IA, 80-IB, 80HHC, and others.

  • GST Audit / Reconciliation (where applicable) – Matching GSTR-9/9C with books and suggesting reconciliations.

  • Internal Audit – Continuous and independent appraisal of internal controls, risk management, and business operations.

  • Concurrent Audit – Ongoing audit of transactions in banks, NBFCs, and large enterprises to ensure real-time compliance.

  • Stock Audit – Verification of inventory, physical stock checking, and valuation as per accounting standards.

  • Revenue Audit of Banks – Audit of income heads and revenue streams of banking institutions.

  • Branch Audit of Banks – Auditing the financial records and compliance status of individual bank branches.

  • Audit of Charitable Trusts, Societies, and NGOs – Including FCRA compliance, fund utilization, and internal control review.

  • Audit of Co-operative Societies and Housing Societies – As per the respective Co-operative Societies Acts and by-laws.

  • PF, Gratuity, and Superannuation Trust Audits – Verification of statutory compliance and fund movement of employee benefit trusts.

  • School and Educational Institution Audits – For fee verification, fund usage, and compliance with education board regulations.

  • Forensic Audit – Specialized audit for detection of fraud, misstatements, and financial irregularities.

  • Information Systems (IS) Audit – Assessment of IT controls, data integrity, and system security.

  • Management Audit – Review of organizational structure, performance, and strategic alignment.

  • Cost Audit (if applicable) – Verification of cost accounting records and cost compliance in notified industries.

  • Due Diligence Audit – Financial and legal review for mergers, acquisitions, or investor assessments.

  • Startup Audit & Compliance Reviews – For early-stage businesses seeking funding, valuation, or regulatory clearances.

  • Environment & Sustainability Audit (optional) – Review of ESG (Environmental, Social, and Governance) reporting and CSR fund utilization.
 
     
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