Smart Tax-Saving Strategies for Individuals in 2024
Smart Tax-Saving Strategies for Individuals in 2024 Even for salaried professionals, it is possible to manage one's taxes proactively....
Audit and Assurance Services are essential pillars of sound corporate governance. They help ensure that businesses operate transparently, ethically, and in full compliance with applicable financial and regulatory frameworks. These services go beyond simple compliance—they instill confidence among investors, regulators, and other stakeholders by validating the accuracy and fairness of a company’s financial statements.
At GVS & Co., we provide comprehensive audit and assurance services from our offices in Gurgaon and Faridabad, helping businesses stay compliant while identifying opportunities for operational and financial improvements.
An audit is an independent examination of financial records, internal controls, and business processes. Auditors assess whether the financial statements are a true and fair reflection of the organization’s performance and are prepared according to applicable laws and accounting standards.
Regulatory Mandate: In India, statutory audits are mandated under the Companies Act 2013 and other financial regulations such as the Income Tax Act and GST laws.
Trust Building: Audits establish credibility with lenders, investors, and government agencies.
Risk Mitigation: They help uncover financial misstatements, fraud, or non-compliance before they escalate.
A legally mandated audit to verify the accuracy of a company’s financial records. Required under the Companies Act, it is conducted by an independent Chartered Accountant.
Scope of Work:
Reviewing financial statements (P&L, balance sheet, cash flow)
Ensuring compliance with Indian Accounting Standards (Ind-AS)
Assessing internal controls and risk exposure
Issuing audit opinion (Unqualified, Qualified, or Adverse)
Benefits:
Legal compliance
Increased stakeholder confidence
Identification of financial inconsistencies
An in-depth review of internal processes to identify inefficiencies, control lapses, and compliance risks.
Scope of Work:
Evaluating financial and operational controls
Risk assessment and mitigation strategies
Fraud detection and prevention
Suggesting improvements in SOPs and workflows
Benefits:
Real-time insights into operations
Strengthened internal controls
Proactive risk management
Conducted under Section 44AB of the Income Tax Act to verify income and deductions for eligible entities.
Scope of Work:
Verifying compliance with tax laws
Checking accuracy of income, expense, and TDS entries
Filing audit report (Form 3CA/3CB and 3CD)
Benefits:
Avoid penalties
Ensures regulatory compliance
Focused on evaluating efficiency and effectiveness in achieving business goals.
Scope of Work:
Workflow evaluation
Cost control analysis
Performance benchmarking
Benefits:
Operational improvements
Better decision-making inputs
At GVS & Co., our audit methodology follows a structured process:
Planning – Define scope, objectives, and timelines
Risk Assessment – Identify key risk areas
Fieldwork – Data collection, sampling, testing
Reporting – Clear and actionable findings
Follow-up – Assistance with implementation of recommendations
Expertise Across Sectors – We serve startups, SMEs, MNCs, and not-for-profits
Certified Chartered Accountants – ICAI-licensed and highly experienced
PAN India Service Delivery – Local presence, national reach
Compliance-First Approach – Minimized audit risks and faster turnaround
Cost-Effective – Premium service without a premium price
| Benefit | Description |
|---|---|
| Compliance | Ensure adherence to Companies Act, Income Tax Act, and GST Laws |
| Transparency | Improve credibility with stakeholders and attract investors |
| Risk Detection | Uncover frauds, inefficiencies, and operational loopholes |
| Decision Support | Gain actionable insights for strategic and financial decisions |
| Business Continuity | Identify threats that can hinder long-term sustainability |
| Stakeholder Trust | Demonstrate financial discipline to lenders, partners, and regulators |
Whether you’re a small business or a large corporation, our audit team in Gurgaon and Faridabad is equipped to deliver value-driven audits that go beyond compliance.
Whether you are a startup looking for guidance or an established company in need of expert compliance support, we’re here to help. Reach out today; our team is just a message away.
Looking for professional guidance on accounting, tax, or compliance matters? Our team is prepared to guide you with solutions tailored to your business goals. Schedule your consultation now and take the first step toward clarity and growth.
We make financial support easy-from your first conversation to your final outcome. Here’s how we help you move forward with clarity:
Do you have questions about tax, compliance, or how to scale your startup? Our team can help with expert, hassle-free advice, tailored to the needs of your business. Let’s build your financial future-together.
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Gupta Varun & Co. is a professional Chartered Accountant firm providing reliable accounting, tax, compliance, and advisory services for startups and growing businesses across India.
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