What the engagement covers.
Audit and assurance is the firm's principal practice area. Engagements are scoped, signed, and supervised by a partner from start to finish — from acceptance and risk assessment through fieldwork, review, and report.
Statutory audit
Audit of financial statements under section 143 of the Companies Act, 2013 and the Companies (Audit and Auditors) Rules, 2014. Reporting under CARO 2020 where applicable. The firm's statutory-audit work runs across small and medium-sized private companies, public companies, and registered cooperatives in Karnataka.
Tax audit
Reporting under section 44AB of the Income-Tax Act, 1961 in Form 3CA / 3CB and Form 3CD, with attention to recent amendments to clause-level reporting. The firm pays particular attention to clauses 21 (disallowed expenditure), 31 (loans and deposits), and 34 (TDS compliance), where Institute guidance has evolved most.
Other assurance engagements
- Limited review under SRE 2400 / 2410 for half-yearly and quarterly information
- Trust audits under section 12A / FCRA where applicable
- Cooperative-society audits under the Karnataka Cooperative Societies Act
- Audit of section-8 companies and not-for-profit entities
- Special-purpose audits and agreed-upon-procedures engagements
Approach
The firm follows a risk-based audit approach aligned with SA 315 (identifying and assessing risk) and SA 330 (responses to assessed risk). Documentation, planning, and review are aligned to SA 230, SA 220, and the Institute's quality-control framework under SQC 1.