Audit Services

Statutory, tax, internal, GST, and information systems audits — ICAI SA-compliant, UDIN-verified, delivered on time.

How It Works

The audit engagement process

Initial Assessment

An initial conversation to understand your entity type, turnover, existing records, and audit history. We identify any red flags upfront and give you an honest view of scope and timeline.

Documentation & Fieldwork

We work through your books, reconciliations, and statutory records. Clear documentation requests, minimal disruption to your team. All findings documented as we go — no surprises at the end.

Report & Sign-Off

ICAI SA-compliant audit report with UDIN. We walk you through findings, any qualifications, and specific actions before the next cycle. Plain-language summary alongside the formal report.

A statutory audit is more than a compliance checkbox — it is a signal of trust to your lenders, investors, and regulators. At Goel Advisory, we conduct every audit with care and thoroughness, delivering a UDIN-verified report that meets ICAI standards and gives your stakeholders the assurance they need.

Audit Applicability

Want to know if your business is audit-ready?Audit-readiness assessment. No commitment.

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Is your business required to be audited?

The short answer for most businesses is yes. Here is what the law requires:

Statutory audit — mandatory for all companies (Private Limited, Public Limited, OPC, Section 8) under Section 139 of the Companies Act, 2013. There is no turnover exemption for companies. Even a company with zero revenue must be audited
LLP audit — mandatory if turnover exceeds ₹40 lakh or contribution exceeds ₹25 lakh in any financial year
Tax audit (Section 63, Income Tax Act 2025) — mandatory if business turnover exceeds ₹1 crore, or ₹10 crore for businesses where 95% or more of transactions are digital. Due date: 30 September each year

GST audit (GSTR-9C) — mandatory CA-certified reconciliation statement for businesses with turnover above ₹5 crore. Mandatory CA certification reinstated from FY 2025-26 onwards. Due date: 31 December each year
Bank branch audit — required by RBI guidelines for scheduled commercial banks
Trust and co-operative audit — mandatory for registered trusts, PF trusts, charitable organisations, and co-operative societies under their respective statutes

What We Offer

Audit Services

Statutory & Tax Audits

Statutory audit for Private Limited, Public Limited, OPC, and Section 8 companies — ICAI SA-compliant, UDIN-verified reports
CARO 2020 reporting — Companies (Auditor's Report) Order compliance included in all statutory audits
Form ADT-1 filing with ROC on appointment
Audited financials prepared for AOC-4 filing
Tax audit under Section 63, Income Tax Act 2025 (formerly Section 44AB) — Form 26 report
GST audit — GSTR-9C reconciliation statement with CA certification for businesses above ₹5 crore turnover
Revenue audit and branch audit of banks

Internal, Specialised & IS Audits

Internal audit and concurrent audit — process-based, risk-focused approach
Information Systems (IS) audit — review of IT controls, data integrity, and system access
Process audit — end-to-end review of specific business processes and control frameworks
Audit of PF trusts, charitable trusts, and schools
Audit of co-operative societies
Inspection and investigation audits
Establishing and reviewing internal control systems — IFC/ICFR frameworks

What You Get

ICAI-compliant, UDIN-verified

Every statutory audit delivered by Goel Advisory meets the following standards — these are not optional extras, they are the minimum the law and your stakeholders require:

ICAI Standards on Auditing compliant — all fieldwork and reporting conducted in accordance with Standards on Auditing issued by the Institute of Chartered Accountants of India
UDIN-verified audit report — every audit report carries a Unique Document Identification Number generated through the ICAI UDIN portal, verifiable by any third party
CARO 2020 coverage — all applicable Companies (Auditor's Report) Order clauses addressed and reported on

Management letter — beyond the audit report, we provide observations on internal controls, process gaps, and recommendations for improvement
ROC filing support — ADT-1 appointment filing and coordination for AOC-4 financial statement filing with ROC
Clear timelines — we commit to a realistic timeline at the start and deliver to it. Statutory audits typically run 6–8 weeks from kickoff to final signed report

Consequences of Non-Compliance

What happens if you skip the audit

Failing to conduct a statutory audit has serious consequences that compound over time:

Cannot file AOC-4 with ROC — financial statements cannot be filed without audited accounts, triggering a cascade of non-compliance including ₹100/day late fees on ROC filings
Penalty under Section 147 — non-compliance with audit provisions attracts fines from ₹25,000 to ₹5,00,000 for the company

Fundraising and banking blocked — lenders, investors, and banks require audited financials. Without them, credit applications, investor due diligence, and government tenders are blocked
Director liability — officers in default face personal fines and potential prosecution under the Companies Act

How We Work

Our process

Appointment & Scoping

We obtain the board resolution and appointment letter, file Form ADT-1 with ROC, and conduct an initial assessment of your business, systems, and risk areas. You receive a complete document checklist so preparation is straightforward.

Planning

We prepare a risk-based audit plan covering scope, materiality thresholds, key focus areas, and timeline. Where internal controls are strong, we rely on them; where gaps exist, we design substantive tests to compensate.

Fieldwork

We verify balances, test transactions, review supporting records, assess internal controls, and check TDS, GST, and payroll compliance. Most fieldwork is handled remotely with cloud access to your accounting software; on-site visits are arranged where physically required (inventory counts, for example).

Reporting

We prepare the draft audit report — including CARO 2020 clauses — review findings with management, issue the final UDIN-verified signed report, and provide a management letter with our observations. Audited financials are then ready for AGM presentation and AOC-4 filing with ROC.

Why it matters: a well-conducted audit does more than satisfy a statutory obligation. It surfaces control weaknesses before they become expensive problems, gives lenders and investors confidence in your numbers, and produces financial statements that can withstand scrutiny. Treated as a management tool rather than a compliance chore, an audit adds genuine value to how you run your business.

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Questions

Frequently asked questions

Yes — if your business is registered as a company under the Companies Act, 2013 (Private Limited, Public Limited, OPC, or Section 8), a statutory audit is mandatory every year under Section 139 regardless of turnover or whether you made a profit. There is no size exemption for companies. For LLPs, audit is required if turnover exceeds ₹40 lakh or contribution exceeds ₹25 lakh.

UDIN (Unique Document Identification Number) is a unique number generated by the signing CA through the ICAI UDIN portal for every audit report and certificate they sign. It allows any third party — a bank, investor, or regulator — to verify that the document is genuine and was actually signed by the CA in question. ICAI mandates UDIN for all audit reports. Every report we issue carries a valid UDIN.

Typically 6–8 weeks from kickoff to final signed report, depending on the size and complexity of the business and how organised the records are. We give you a realistic timeline at the start and a clear checklist of what we need from your team.

Bank statements, general ledger, sales invoices, purchase bills, payroll records, fixed asset register, GST and TDS returns, and any loan or charge documentation. We send a complete checklist at the start of the engagement so nothing is missed and preparation is straightforward.

Largely yes. With cloud or shared access to your accounting software, most fieldwork is handled remotely. An on-site visit is arranged where the nature of the work requires it — inventory verification, for example — but this is the exception rather than the rule.

Yes. For businesses with turnover above ₹5 crore, we prepare and sign the GSTR-9C reconciliation statement with mandatory CA certification — reinstated from FY 2025-26 onwards. This is coordinated with our GST compliance practice.

Fees vary based on your entity type, turnover, and complexity. Fill in our enquiry form and our team will connect with you within 24 hours with a clear, itemised proposal — no obligation to proceed.

Investment

Pricing tailored to you

Audit fees vary based on your entity type, turnover, and complexity. Fill in the enquiry form and our team will get back to you with a clear, itemised proposal within 24 hours.

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