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Auditing

Auditing & Assurance Services In Mumbai.

The primary objective of an audit is to thoroughly examine financial statements to determine if they accurately and objectively represent a business or other entity. It involves a thorough analysis of financial records, transactions, and internal controls to ensure transparency and accountability. The main goal of an audit is to offer an opinion regarding the reliability and quality of the financial data so that decision-makers can make wise decisions.
In short, the audit system in India is an important tool for management in identifying areas for improvement and making strategic choices to maximize growth potential as they provide a clear and accurate picture of the company's financial health.
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Audit services in India have evolved beyond mere compliance exercises. They are now critical for ensuring a company's financial health and growth. Our team at Gada Chheda & Co. LLP, India utilizes a risk-based approach with tailored testing methodologies to provide insightful and actionable financial statement audits.
We prioritize understanding each client's business to build strong relationships and deliver the highest quality service. We are helping organizations from various sectors with company audits, internal auditing services, and external auditing services, management audits, statutory audits, and other voluntary audits.

Focus on Your Business,
We'll Handle the Audit.

Best Auditing & Assurance Services In Mumbai, India.

We are helping organizations from various sectors with Company Audits, Internal Audits, Management Audits, Statutory Audits, and other Voluntary Audits.

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Income Tax Audit

Section 44AB of the income tax act has the provisions related to the audit of accounts. Income tax audit under this section is required for certain class of taxpayers that depends on turnover and receipts limit. To understand if you are liable under the tax audit, you can consult tax advisors that is chartered accountant, Gada Chheda, a best tax audit services in Mumbai.

Audit Under GST

Audit under GST involves an examination of records, returns, and other documents maintained by a GST-registered person. There are four main types of audits under the Goods and Services Tax (GST) in India including, departmental audit/audit by tax authorities, special audit, limited scrutiny, and taxpayer-initiated audit. Our chartered accountant firm in Mumbai, India has a qualified team that specializes in smooth GST registration and audits.

Audit Under the Companies Act

Only a Chartered Accountant can be appointed as an auditor under the Companies Act [Section 141(1) of the Act]. The audit report form has its own set of rules that are set by the Government. We perform a comprehensive review of a company's financial statements. This involves examining accounting records, vouchers, and bills to verify their accuracy and ensure they comply with accounting standards.

Audit Under the Sales Tax Act

An audit under the Sales Tax Act is a process where tax authorities examine a business's records to verify their compliance with sales tax regulations. The state government collects the VAT, and hence, every state government has different guidelines applicable to their respective states based on the type of goods sold and manufactured. By keeping good records and potentially seeking professional help from chartered accountants, businesses can ensure a smoother audit process and minimize any potential tax liabilities.

Transfer Pricing

Do you need help ensuring your company's internal transactions are priced fairly and comply with tax regulations? Our transfer pricing services can assist you with managing transactions between different divisions of your multinational organization. Our services include transfer pricing advisory, benchmarking analysis & report, transfer pricing documentation, transfer pricing audit assistance, and transfer pricing assessments and appeals.

An audit is a systematic review of your financial records by a qualified professional, an auditor. They assess the accuracy of your financial statements and ensure they comply with accounting standards. Audits bring credibility and trust to your finances, benefiting investors, creditors, and your own peace of mind.

There are various audit types depending on your needs. Common ones include: Financial Audits: Assess the overall fairness and accuracy of your financial statements. Internal Audits: Evaluate internal controls and risk management practices. Compliance Audits: Ensure adherence to specific regulations or industry standards.

Choosing the right auditor is vital. Look for an experienced professional with relevant certifications and expertise in your industry. Consider factors like size, reputation, and fees when making your decision. Let our expert auditors answer your questions and guide you through the auditing process.

Your Guide to Auditing Services

Ensuring the accuracy and integrity of your financial records is crucial. Auditing services provide an independent assessment, but navigating the world of audits can be confusing.

What If You Ignore Auditing Services?

Increased Risk of Errors and Fraud

Without a professional review, financial mistakes or even deliberate misappropriation of funds can go undetected. We can identify inconsistencies and weaknesses in internal controls, helping prevent fraud.

Tax Issues and Penalties

Businesses with inaccurate financial records are more likely to face tax audits and penalties from the government. We at Gada Chheda ensure compliance with tax regulations and help businesses claim all eligible deductions.
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What If You Ignore Auditing Services?

Difficulty Securing Funding

Investors and lenders rely on audited financial statements to assess a business's financial health. Without an auditing services, it can be harder to secure funding for growth or operations.

Reputational Damage

Financial mismanagement or errors discovered later can damage a business's reputation with investors, partners, and customers. Our chartered accountants can enhance transparency and credibility with auditing services.
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