Statutory Audit of Companies and LLPs in Mumbai
An independent audit, carried out to ICAI's Standards on Auditing, with findings your board and bankers can act on.
Every company must have its accounts audited every year – whatever its size, even if it did no business. LLPs need an audit once turnover or contribution crosses the prescribed limits. Nishita has signed statutory audits for over a decade: planning around the real risks in your business, testing what matters, and reporting under the Accounting Standards or Ind AS, CARO 2020 and internal financial controls where they apply. The audit is timed so your tax audit, income tax return and annual ROC filings can all be completed on schedule.
Who this is for
- Private limited and one person companies
- Unlisted public companies
- LLPs with turnover above ₹40 lakh or contribution above ₹25 lakh
- Section 8 companies
- Companies needing audited accounts for banks, investors or tenders
What's covered
Planning and risk assessment
Understanding the business and focusing audit effort where misstatement is most likely.
Testing the numbers
Revenue, expenses, receivables, payables, bank, borrowings and related party transactions.
Inventory and fixed assets
Attendance at stock counts where relevant; verification of assets and depreciation.
Accounting framework
Compliance with Accounting Standards or Ind AS, and Schedule III presentation, including notes to accounts.
CARO 2020
Reporting under the Companies (Auditor's Report) Order where applicable.
Internal financial controls
Reporting on controls over financial reporting where required.
Report and management letter
The independent auditor's report – plus a separate letter to management on control gaps and practical fixes.
What you get
- Audit plan and document request
- Independent auditor's report (with UDIN)
- CARO and IFC reports where applicable
- Management letter
- Timeline aligned to tax audit and ROC due dates
Documents to keep ready
- Trial balance and books of account
- Bank statements and confirmations
- Fixed asset register
- Inventory records
- Loan agreements and sanction letters
- Board and shareholder minutes
- Last year's audited financial statements
You'll get an exact list for your case at the start.
How it works
- 1
You tell us what's going on.
A short call or email: what you need, what's already been filed, and what the deadline is.
- 2
You get a checklist.
One specific list of documents for your case – nothing generic, nothing you don't need.
- 3
We do the working.
Records are reviewed, figures are matched with government portals, and the return, report or reply is prepared.
- 4
You see it before it's filed.
The draft is walked through with you, in plain language, before anything is signed or submitted.
- 5
We file and send you proof.
Acknowledgements and final copies come to you the same day.
- 6
We stay on it.
Processing, intimations and any follow-up from the department are tracked until the matter is closed.
Questions people ask
Does a company with no business still need an audit?
Yes. Every company must have its accounts audited and file its financial statements and annual return with the Registrar, even with no transactions.
When should the audit be finished?
Audited accounts must be placed before the AGM, ordinarily held within six months of the year end. Planning starts well before that.
How is the auditor appointed?
The first auditor is appointed by the Board within 30 days of incorporation. After that, shareholders appoint the auditor at the AGM – generally for five years – and the appointment is filed with the Registrar.
We're moving to Ind AS. Can you help?
Audits are carried out under both Accounting Standards and Ind AS, including the additional disclosures and notes Ind AS requires.
Need help with Statutory Audit? Call +91 99676 46373, email nishita993@gmail.com, or use the contact form.