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Vijay Bhalothia & AssociatesChartered Accountants

Assurance that stands up to scrutiny

Audit & Assurance

An audit should tell you more than whether the books balance. We use computer-assisted audit techniques alongside sector experience to test what actually drives your numbers, so the opinion we sign carries weight with every stakeholder who reads it.

Our engagements run across multi-geography entities and multi-company groups, spanning manufacturing, trade, power, shipping, oil exploration, pharmaceuticals, chemicals, automobiles, education, hospitality, FMCG and retail chains.

Why it works

What you get from this engagement

Credibility

Engagements conducted in line with ICAI standards, with peer-reviewed quality controls and documented working papers.

Technical depth

Ind AS, IFRS and US GAAP reporting frameworks handled by people who apply them week in, week out.

Engagement, not inspection

Partners stay on the file. You hear about issues while they can still be fixed, not in the final report.

A profit centre, not a cost centre

Every audit ends with control and process observations that pay for the engagement several times over.

Our offering

How we deliver Audit & Assurance

  • Statutory audit under the Companies Act, 2013
  • Internal audit and internal financial control testing
  • Tax audit under Section 44AB and GST reconciliations
  • Stock, receivables and concurrent audits for lenders
  • Forensic accounting, fraud investigation and litigation support
  • Limited reviews, certifications and special purpose reports

Talk to our Audit & Assurance team

Tell us what you are dealing with. A partner reads every enquiry and replies within one business day.

In detail

The specific engagements within this practice

Statutory Audit

Statutory audits conducted by our expert team using CAATs and audit techniques derived from both experience and technology. Our audits are performed in varied environments — from multi-geographic entities to multi-company groups — with experience across manufacturing, trade, overseas trade, power, shipping, oil exploration, pharma, chemicals, automobiles, educational institutes, hospitality, FMCG and retail chains.

Internal Audit

We undertake internal audits with a strong focus on closing the gaps identified, helping organisations grow in reality rather than just on paper. Internal audit protects the interests of stakeholders: while sometimes mandated by statute, it is most often used to test compliance and to strengthen internal control systems and procedures as a continuous, regular function blended into daily operations.

Stock Audit

For stock audits requiring specialised skill sets, or where the business entity has a complex structure, our team is the right fit. With deep in-house experience and enrolled subject experts, we have designed a distinctive system for conducting stock audits and deploy a specialised team to deliver accurate results against each client’s specific requirements.

Forensic Accounting & Investigation

Forensic accounting is the art of deriving measurable results supported by conclusive evidence. Our forensic audit reports have been instrumental in many matters before courts of law, besides innumerable out-of-court settlements. The firm is empanelled with reputed regulators in India along with numerous banks, the Economic Offences Wing and other investigative agencies.

Tax Audit & Special Purpose Audits

Tax audits under Section 44AB, GST audits and reconciliations, certification work, and special purpose audits commissioned by lenders, investors or regulators.

Questions

Audit & Assurance: frequently asked

Something not covered here? Ask us directly.

Every company registered under the Companies Act, 2013 must have its accounts audited, regardless of turnover. LLPs need an audit once turnover exceeds ₹40 lakh or contribution exceeds ₹25 lakh. Other entities may need an audit under Section 44AB of the Income-tax Act or under lender covenants.

Ideally at the start of the financial year, not at the close of it. Early involvement lets us agree the audit plan, flag accounting positions before they are booked, and spread fieldwork so the year-end close is not a scramble.

Yes. We handle consolidated group audits with overseas components, coordinating with local auditors and reconciling between Ind AS, IFRS and US GAAP where the group reports under more than one framework.

It begins with scoping the suspected issue, then evidence preservation, transaction and digital analysis, interviews where appropriate, and a report written to withstand cross-examination. We have supported banks, regulators and investigative agencies on such matters.

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