Audit & Assurance — read line by line, signed by a partner.

Audit and assurance is the firm’s anchor practice. Every engagement — statutory under the Companies Act 2013, tax audit under Section 44AB, GST audit under Rule 80, internal audit under Section 138, or specialist work for banks, NBFCs, and inventory lenders — is planned, fieldworked, and signed by a partner. We work to the Standards on Auditing issued by the ICAI, document everything in working papers that hold up to peer review, and write conclusions in plain English so management can act on them.

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Inside the practice

The audit lines we sign for.

Each card below opens a nested page with the full scope, applicable thresholds and reporting formats for that audit type.

Statutory Audit (Companies Act 2013)

Audit under the Companies Act 2013 with CARO 2020 reporting — mandatory for every company regardless of turnover.

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Audit of LLP

Statutory audit under the Limited Liability Partnership Act 2008 — mandatory for LLPs with annual turnover above ₹40 lakh or contribution above ₹25 lakh.

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Tax Audit

Section 44AB audit for businesses above ₹1 crore turnover (₹10 crore where cash receipts and payments are within 5%) and professionals above ₹50 lakh, reported on Form 3CA/3CB and 3CD.

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Internal & Concurrent Audit

Mandated under Section 138 of the Companies Act for listed companies, certain unlisted public companies, and large private companies — plus real-time concurrent audits for banks and NBFCs.

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Bank & Government Audits

PSB branch audits, statutory bank audits, government company audits and CAG-empanelled assignments — including revenue audit and stock audit for bank borrowers.

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Audit of NGOs / Trusts / Section 8 Companies

Audit under the Income-tax Act and FCRA, with special attention to fund utilisation, corpus protection, foreign-contribution compliance and Form 10B / 10BB reporting.

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Stock / Inventory Audit

Physical inventory verification for banks, NBFCs, and stock lenders — quantity reconciliation, valuation testing, and security cover assessment.

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Fixed Asset Audit

Physical verification of fixed assets, reconciliation with the FAR, capitalisation policy review, depreciation rate verification and impairment testing.

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Transfer Pricing Audit

Section 92E reporting (Form 3CEB / Form 48 under ITA 2025), arm’s-length benchmarking, master file and CbCR compliance for cross-border related-party transactions.

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GST Audit (GSTR-9 / 9C)

Annual return GSTR-9 and self-certified reconciliation GSTR-9C for taxpayers with turnover above ₹5 crore — reconciling audited financials with monthly GST returns.

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Forensic Audit / Investigation

Fraud red-flag review, fund-trail mapping, evidence preservation and court-admissible documentation — for shareholder disputes, ED / SFIO references and lender investigations.

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Management / Operational Audit

Independent review of process efficiency, controls and value-chain hygiene — not for statutory sign-off but for the board, the CEO and the lender who needs assurance.

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Information System (IS) Audit

IT general controls, application controls and ICFR testing under SA 315 — mapped to ISO 27001 and SOC 2 frameworks for clients with regulator-grade reporting needs.

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Due Diligence

Buy-side and sell-side financial, tax and commercial DD — data-room build, quality of earnings, working-capital normalisation, hidden-liability review and red-flag report.

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Why work with us

Three things every audit client gets.

/ 01 · Qualifications

Partner-signed, ICAI-registered.

Every audit at Swati K & Co. is signed by an ICAI Fellow or Associate member with personal accountability. The firm carries FRN 021392S and operates within the ICAI peer review framework. Our partners come from Big-4 audit floors and in-house finance roles, with sign-offs spanning SMEs, NBFCs, NRI entities, and corporate clients across Karnataka. Sign-offs are not subcontracted.

/ 02 · Process

Read twice, signed once.

We follow the Standards on Auditing — risk assessment, planning memo, sampling per SA 530, fieldwork, internal review, then partner sign-off. Working papers are documented in line with SA 230 so they survive peer review and regulator scrutiny. Findings get a written closure note before the report is signed; nothing material is left to verbal assurance. Reports read in plain English.

/ 03 · Response times

The desk picks up.

Queries during an audit get a response within the working day. Audit cycles are scheduled around your statutory deadlines — board meeting dates for adopted accounts, ROC due dates, MGT-7 timelines. A standard private-company audit completes in 3–4 working weeks from books-ready. Escalation is direct to the signing partner; no junior staff handles your call.

FAQ

Five questions we get asked.

What is the difference between a statutory audit and a tax audit? +

A statutory audit is required for every company under Section 139 of the Companies Act 2013, irrespective of turnover. A tax audit under Section 44AB of the Income Tax Act applies only when business turnover exceeds ₹1 crore (or ₹10 crore where 95% of receipts and payments are non-cash) or professional gross receipts exceed ₹50 lakh. The two reports go to different regulators on different forms.

When does my company need an internal audit? +

Section 138 of the Companies Act (read with Rule 13 of the Companies (Accounts) Rules 2014) mandates internal audit for every listed company; unlisted public companies with paid-up capital ≥₹50 crore, turnover ≥₹200 crore, outstanding loans ≥₹100 crore, or deposits ≥₹25 crore; and private companies with turnover ≥₹200 crore or outstanding loans ≥₹100 crore.

How long does a statutory audit take? +

For a standard private limited company, three to four working weeks from the date your books are ready and reconciled. Larger groups, multi-branch operations, or first-time audits take longer. We work backward from your AGM date so the signed report is in hand at least 10 days before the board meeting that adopts the accounts.

What records should I keep ready before the audit starts? +

Trial balance, ledgers, cash and bank books, sales and purchase registers, fixed asset register, bank reconciliation statements, GST returns (GSTR-1, 3B, and 9 / 9C where applicable), TDS returns and Form 26AS, statutory registers under the Companies Act, board and shareholder meeting minutes, and prior-year audit working papers and report. We send a tailored data-request list at the planning stage.

Are your audits peer-reviewed? +

Yes. The firm operates within the ICAI peer-review framework, and all attestation engagements are documented to the standard expected by a peer reviewer. We retain working papers per SA 230 for the minimum prescribed period, and maintain a signed engagement letter, planning memo, materiality computation, and sampling rationale for every audit.

Ready when you are

Talk to a senior CA.

A 30-minute call with a partner — no deck, no follow-up email blasts. Just a read on whether we’re the right team for the engagement.

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