Audit & Assurance · ICAI Registered

Audit & Assurance Services built on independence.

Independent audits that strengthen stakeholder confidence, ensure regulatory compliance, and reveal what your financial statements actually mean — from statutory audit under the Companies Act, 2013 to tax audit, internal audit, and concurrent audit.

Audit and assurance services exist to give stakeholders — promoters, investors, lenders, regulators, and the management team itself — the confidence that financial statements present a true and fair view of the business. At NDS Advisors, we treat every audit engagement as a chance to do more than tick boxes.

With increasing oversight from MCA, NFRA, and ICAI, every company — private, public, LLP, or OPC — must maintain accurate books, comply with reporting standards, and undergo independent audit by a qualified Chartered Accountant. We bring 15+ years of audit practice across manufacturing, real estate, healthcare, jewellery, textile, and startups.

Our approach combines technical rigour with practical judgement. We test where risk actually lives, document every conclusion, and surface weaknesses in internal controls before they become liabilities — delivering an audit report you can stand behind.

Audits We Conduct

Statutory Audit

Independent audit under Section 143 of the Companies Act, 2013 — verifying truth and fairness in line with Ind AS and Schedule III.

Tax Audit (Sec 44AB)

Income Tax audit for businesses crossing turnover thresholds, with Form 3CA/3CB and detailed Form 3CD certification.

Internal Audit

Risk-based internal audit under Section 138 — covering controls, SOPs, processes, and operational risk for prescribed companies.

Stock & Inventory Audit

Physical stock verification, valuation, and reconciliation — required by banks for working capital and credit limit assessments.

Concurrent Audit

Real-time audit of branches for banks and NBFCs — verifying transactions as they happen to detect irregularities early.

CARO 2020 Reporting

Detailed reporting on PPE, inventory, loans, related party transactions, statutory dues, and going concern matters.

IFC & ICFR Reporting

Evaluation and audit opinion on Internal Financial Controls over Financial Reporting for listed and prescribed companies.

Limited Reviews & Certifications

Special purpose audits, limited reviews, and certifications for ROC filings, due diligence, and regulatory submissions.

Our Audit Process

Engagement & Scoping

Understanding your business, finalising audit type, and a clear engagement letter with defined scope and timelines.

Risk Assessment & Planning

Walk-through of processes, evaluation of internal controls, and a documented audit plan tailored to your sector.

Fieldwork & Testing

Substantive testing, vouching, ledger scrutiny, and third-party confirmations — fully documented in signed workpapers.

Reporting & Sign-Off

Audit opinion, CARO annexure where applicable, and a separate management letter with practical recommendations.

ROC Filing Support

Assistance with Form AOC-4, MGT-7, and related post-audit ROC filings to close the annual compliance cycle.

Why It Matters

✓Mandatory compliance under the Companies Act, 2013

✓True and fair view of financial statements

✓Detects errors, irregularities, and control gaps early

✓Strengthens investor and lender confidence

✓Reduces risk of MCA, ROC, and NFRA penalties

✓Aligned with Ind AS, AS, and Schedule III

✓Smoother fundraising, listing, and due diligence

✓Strengthens IFC/ICFR and corporate governance

Frequently Asked Questions

Statutory audit is mandated under the Companies Act, 2013 and applies to all companies regardless of turnover — its purpose is to verify whether financial statements present a true and fair view. Tax audit under Section 44AB applies to businesses crossing prescribed turnover thresholds and focuses on verifying income, deductions, and tax compliance through Form 3CD.

Tax audit under Section 44AB is mandatory if your business turnover exceeds ₹1 crore (₹10 crore where cash transactions are below 5%), or your professional gross receipts exceed ₹50 lakh in a financial year. It also applies when income is declared lower than presumptive rates under Sections 44AD, 44ADA, or 44AE.

Every company must appoint its first statutory auditor within 30 days of incorporation through a board resolution. Subsequent appointments are made for a term of five years at the AGM, with Form ADT-1 filed within 15 days of appointment.

Internal audit focuses on evaluating internal controls, operational efficiency, and risk management — it is process-driven and forward-looking. Statutory audit focuses on the accuracy of financial statements and statutory compliance — it is historic and report-driven. Internal audit is mandatory for prescribed companies under Section 138 of the Companies Act, 2013.

A small private company statutory audit typically takes 7 to 15 working days. Larger or multi-location engagements may require four to six weeks. Tax audits during peak season are completed in 5 to 10 working days when records are organised.

Yes. We are headquartered in Andheri East, Mumbai and serve clients across India through secure remote engagement workflows, digital document management, and on-site visits where required. Our team has handled audits for businesses in Pune, Delhi NCR, Bengaluru, Ahmedabad, Surat, and tier-2 cities.

We typically require trial balance, ledger and books of accounts, bank statements with reconciliations, statutory registers, GST and TDS returns, fixed asset register, inventory records, prior year audit reports, and key contracts. A complete checklist is shared at engagement start.

Under Section 271B of the Income Tax Act, failure to get accounts audited or furnish the tax audit report by the due date attracts a penalty of 0.5% of total turnover or gross receipts, subject to a maximum of ₹1,50,000. Timely audit planning helps you avoid these penalties entirely.

Ready to get started?

Partner with our team for independent assurance, stronger governance, and on-time MCA filings — every audit cycle, without surprises.