Audit & Assurance
Independent attest and assurance engagements providing objective evaluation of financial statements, internal control systems, and regulatory adherence.
What We Cover
Approved statutory and professional services under this practice area.
Service Overview
Independent audit and assurance functions serve as a vital cornerstone of financial transparency, corporate governance, and regulatory accountability. Stakeholders, including shareholders, boards of directors, commercial lenders, and regulatory authorities, rely on audited financial statements to assess financial integrity.
Sanjeev Dua & Associates delivers rigorous, objective audit and assurance services adhering strictly to the Standards on Auditing issued by the Institute of Chartered Accountants of India. Our audit team combines deep technical knowledge with practical industry understanding across diverse audit mandates.
Who May Require This Service
General commercial circumstances and entity types subject to this framework.
Typical Process & Engagement Approach
How our professional team coordinates and executes assignments.
1. Audit Planning & Risk Assessment
Understanding the entity’s business model, regulatory environment, and identifying areas of material audit risk.
2. Internal Control Evaluation
Reviewing and testing design and operating effectiveness of internal financial controls and accounting procedures.
3. Substantive Testing & Verification
Examining accounting ledgers, supporting vouchers, physical asset verifications, and external confirmations.
4. Reporting & Communication
Discussing audit observations with management and issuing the independent audit report with required disclosures.
Information & Documents Typically Required
Standard records and background materials necessary for assessment and filing.
Professional Approach & Standards
We conduct audit engagements with complete independence, professional skepticism, and methodological rigor. Led by CA. Sanjeev Kumar Dua—who holds specialized post-qualification Certification in Concurrent Audit of Banks (CCA)—our team applies structured verification procedures that provide dependable assurance.
Common Questions
Key answers regarding service scope, regulatory relevance, and procedural steps.
What is the primary objective of an independent statutory audit?
The primary objective is to evaluate whether the financial statements present a true and fair view of the entity’s financial position, operating results, and cash flows in conformity with recognized accounting principles and statutory corporate requirements.
When is a business entity required to undergo a Tax Audit?
A Tax Audit is required when an entity’s business turnover or professional gross receipts exceed statutory thresholds prescribed under direct tax laws, or when presumptive taxation provisions require independent examination.
What does a bank-mandated Stock Audit involve?
A Stock Audit involves independent physical inspection and valuation of raw materials, work-in-progress, and finished goods, reconciliation against bank borrowing limits, verification of stock statements, and review of insurance adequacy.
Related Practice Areas
Interconnected statutory and corporate advisory disciplines.
Discuss Your Requirements with Our Office
Contact the firm to discuss your specific accounting, taxation, or compliance requirements with our professional team.