Statutory, Tax & Internal Audit Services
Audits run to standard and on schedule, with findings explained in plain language and practical fixes rather than a list of objections.
About Audit services
An audit is an independent examination of your financial records and the controls that produce them. Some audits are statutory obligations; others are commissioned by management or a lender.
Handled well, an audit is more than a signed report — it tells you where records, controls or processes are weak while there is still time to fix them.
We plan the engagement with a defined scope and timeline, document the work properly and report observations with recommendations you can act on.
Statutory audit
A statutory audit is the examination the Companies Act requires of every incorporated company, regardless of turnover or whether it traded during the year. Its purpose is to give an independent opinion on whether the financial statements present a true and fair view, for the benefit of shareholders, lenders and regulators who did not prepare them. The work covers verification of balances, testing of transactions, third-party confirmations, review of accounting policies and the disclosures required by the applicable financial reporting framework. The output is the audit report, together with the reporting a company auditor is required to make on specified matters.
Tax audit
A tax audit under Section 44AB of the Income-tax Act is a compliance requirement rather than an assurance exercise for shareholders. It applies once turnover or gross receipts cross prescribed thresholds — which differ for business and profession, and are relaxed where cash receipts and payments remain within a specified proportion — and can also apply where presumptive taxation is opted out of. The audit reports on specified particulars in the prescribed forms, covering matters such as disallowable expenditure, TDS compliance, related party payments, loans and deposits, and stock and turnover reconciliation. The report must be filed within the due date under the Act, and we assess applicability for your entity before the year closes rather than after it.
Internal audit
An internal audit is commissioned by management or the board rather than mandated for every entity, and its scope is set by the organisation. It looks at how the business actually runs: whether transactions are properly authorised, whether controls over cash, purchases, sales, inventory and payroll operate as intended, where processes create risk of error or leakage, and how reliably management information reflects reality. The deliverable is a findings report with prioritised, practical recommendations and, where engaged on a continuing basis, follow-up on whether the earlier findings were remediated.
What we help with
- Statutory audit under the Companies Act
- Tax audit under Section 44AB
- Internal and management audit
- Stock, fixed asset and revenue audits
- Internal financial controls testing
- Special purpose and certification audits
- Management letter with control recommendations
Who this is for
- Companies with a statutory audit requirement
- Businesses crossing tax audit thresholds
- Organisations with lender-driven audit obligations
- Management seeking an independent internal review
Why choose ACB Consultants
Professional expertise
Engagements are led personally by our founder and partners, with direct access to the people handling your file.
Practical approach
Advice in plain language, focused on what you can act on rather than a restatement of the regulation.
Timely compliance
Deadlines tracked proactively across GST, TDS, ROC and income tax so filings are not left to the last day.
Business-focused advice
We start from your numbers and your commercial context, not a generic template.
Personalised support
A consistent point of contact who knows your business, rather than a new handler each time.
End-to-end assistance
Accounting, tax, corporate and audit needs handled by one accountable firm.
Our process
- Step 1
Engagement scoping
We confirm which audit applies — statutory, tax, internal or special purpose — and agree the reporting deadline.
- Step 2
Risk assessment & planning
Materiality is set, risk areas identified and the audit programme and information request list issued.
- Step 3
Records & confirmation gathering
Ledgers, supporting documents, statutory challans and third-party balance confirmations are collected.
- Step 4
Substantive testing & controls review
Sample testing, analytical review and controls walkthroughs are performed at your premises or remotely.
- Step 5
Findings discussion
Observations are discussed with management as they arise, so corrections can be made before the report is drafted.
- Step 6
Report & management letter
The audit report is issued with a management letter setting out control observations, prioritised by significance.
Audit — frequently asked questions
Related services
Need help with Audit?
Tell us about your business and we'll come back with a clear scope, timeline and fee — usually the same working day.