VRSV and Associates

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In today’s regulatory landscape, audit compliance is more than just an obligation—it’s an opportunity to enhance financial transparency and efficiency. At VRSV & Associates, we leverage our auditing and assurance services to evaluate existing financial procedures, providing valuable insights that help businesses optimize their operations. Our approach allows us to identify gaps, improve record-keeping, and develop more accurate financial reports, ultimately leading to better fiscal planning and strategic decision-making. By ensuring compliance with statutory requirements and enhancing financial processes, we empower businesses to operate more efficiently and achieve long-term growth.

STATUTORY AUDIT

TAX AUDIT

GOODS & SERVICES TAX (GST) AUDIT

INTERNAL AUDIT

Statutory Audit

A statutory audit is an independent review of an entity’s financial statements and disclosures to ensure accuracy, fairness, and compliance with applicable laws. The auditor’s report, issued after the examination, provides assurance on the reliability of financial information presented to stakeholders.

Our Statutory Audit Services Include:

 
  • Compliance with Regulatory Requirements – Conducting audits as per legal mandates under Company Law, Cost Accounting Law, and other applicable regulations.
  • Financial Statement Verification – Ensuring the accuracy and fairness of financial records and disclosures.
  • Adherence to Auditing Standards – Following Standards on Auditing (SAs) issued by the Institute of Chartered Accountants of India (ICAI).
  • Expert Audit Team – A highly skilled team with extensive experience in audit functions to deliver comprehensive and reliable audit solutions.

At VRSV & Associates, we ensure a transparent, efficient, and compliant audit process, helping businesses maintain financial integrity and statutory compliance.

Tax Audit

A tax audit is a mandatory examination of a taxpayer’s business or professional accounts as per Income Tax Law to ensure compliance with financial regulations. Section 44AB of the Income Tax Act specifies which taxpayers are required to get their accounts audited by a Chartered Accountant (CA).

Our Tax Audit Services Include:

 
  • Compliance with Section 44AB – Ensuring businesses meet tax audit requirements under the Income Tax Act.
  • Examination of Accounts – Reviewing financial records to confirm compliance with income tax provisions.
  • Audit Report Preparation – Preparing and certifying tax audit reports in Form 3CA, 3CB, and 3CD as per regulatory requirements.
  • Expert Analysis & Observations – Providing detailed insights, findings, and recommendations for tax compliance.

At VRSV & Associates, our experienced Chartered Accountants conduct timely, efficient, and effective tax audits, ensuring seamless compliance with Income Tax Laws.

Goods & Services Tax (GST) Audit

A GST audit is a thorough examination of a registered taxpayer’s records, returns, and financial documents to ensure compliance with GST laws. This audit verifies the accuracy of turnover, tax payments, refunds claimed, and input tax credit (ITC) availed while assessing adherence to statutory provisions.

Types of GST Audits:

 
  • GST Audit by a Chartered Accountant (CA) – Conducted as per GST law for eligible taxpayers.
  • GST Audit by Tax Authorities – Initiated by government officials to verify tax compliance.
  • GST Special Audit – Ordered by authorities when discrepancies are detected in tax filings.

At VRSV & Associates, we follow a professional and systematic approach to conducting GST audits, ensuring accuracy and compliance. We assist in the preparation and filing of GST annual returns (GSTR-9) and audit reconciliation statements (GSTR-9C) efficiently, minimizing compliance risks for our clients.

Internal Audit

As per Section 138 of the Companies Act, 2013, certain companies are mandated to appoint an Internal Auditor, who may be a Chartered Accountant (CA), Cost Accountant, or other qualified professionals, to conduct an internal audit of the company’s functions and activities. The Central Government prescribes the rules regarding the manner and intervals of conducting and reporting internal audits.

 

Companies Required to Appoint an Internal Auditor:

 
  • Every Listed Company
  • Unlisted Public Companies meeting any of the following criteria:
  • Paid-up share capital of ₹50 crore or more in the previous financial year
  • Turnover of ₹200 crore or more in the previous financial year
  • Outstanding loans or borrowings exceeding ₹100 crore at any time in the previous financial year
  • Outstanding deposits of ₹25 crore or more at any time in the previous financial year
  • Private Companies meeting any of the following criteria:
  • Turnover of ₹200 crore or more in the previous financial year
  • Outstanding loans or borrowings exceeding ₹100 crore at any time in the previous financial year

Our Internal Audit Services:

 
  • Regulatory Compliance Audit – Conducting audits in compliance with applicable laws and corporate governance requirements.
  • Performance & Risk Assessment – Evaluating business operations, identifying inefficiencies, and recommending improvements.
  • Management Reporting – Providing detailed reports on weaker areas to enhance internal controls and risk management.

 

At VRSV & Associates, our expert audit team ensures a thorough and effective internal audit process, helping businesses improve governance, efficiency, and financial transparency.

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