Audit and assurance services
Encompass both Audit & Assurance and advisory offerings, aimed at supporting clients in attaining their business objectives, adeptly managing risks, and enhancing overall business performance.
Audit and Assurance Services by Dexter Consultancy Vadodara
Welcome to Dexter Consultancy Vadodara, your trusted partner in navigating the complexities of Audit and Assurance. Our team of seasoned professionals is dedicated to providing comprehensive services that go beyond traditional auditing, offering valuable insights to enhance your business operations.
Services We Offer
Financial Statement Audits :
Examine your financial statements, ensuring accuracy and compliance with relevant Laws. We go beyond the numbers, providing a thorough analysis to enhance financial transparency.
Stock Audit :
Stock audit is a process of verifying the physical existence, quantity, quality, and valuation of your inventory. Stock audit can help you ensure the accuracy and reliability of your inventory records, We can help you conduct stock audit of your raw materials, work-in-progress, finished goods, and consumables.
Internal Audits :
Conducts comprehensive internal audits to evaluate your internal controls, identify potential risks, and recommend strategies to fortify your business processes.
Tax Audits:
A tax audit service in India is a service that involves the examination and verification of the books of accounts and records of a taxpayer by a chartered accountant. The purpose of a tax audit service is to ensure the accuracy and completeness of the income tax returns and compliance with the provisions of the Income Tax Act, 1961.
Compliance Audits :
Stay ahead of regulatory changes with our compliance audit services. We help you navigate the intricate landscape of regulations Like GST Compliance Check, ROC Compliance Check
Assurance :
Assurance is a process of providing an independent and objective opinion on the reliability and validity of your financial or non-financial information. Assurance can help you improve the quality and accuracy of your information, and increase the trust and confidence of your users and decision-makers.
Broadly, Audit involves the following :
- Indepth study of existing systems, procedures and controls for proper understanding. Suggestions for improvement and strengthening.
- Comprehensive review to ensure that the accounts are prepared in accordance with Generally Accepted Accounting Policies and applicable Accounting Standards/IFRS.
- Checking the genuineness of the expenses booked in accounts.
- Reporting inefficiencies at any operational level.
- Detection and prevention of leakages of income and suggesting corrective measures to prevent recurrence.
- Certification of the books of account being in agreement with the Balance Sheet and Profit and Loss Account.
- Issue of Audit Reports under various laws
Have Any Questions?
FAQ's
What is a tax audit?
A tax audit is an examination of the books of accounts and records of a taxpayer by a chartered accountant to verify the accuracy and completeness of the income tax returns and compliance with the provisions of the Income Tax Act, 19611
What is a statutory audit?
A statutory audit is an audit of the financial statements and records of a company by an independent auditor to express an opinion on the true and fair view of the financial position and performance of the company and compliance with the provisions of the Companies Act, 20132.
What is the purpose of a Tax Audit?
A tax audit is conducted to ensure compliance with tax laws and regulations. It involves a thorough examination of financial statements and records to verify the accuracy of tax returns and the fulfillment of statutory obligations.
What triggers the requirement for a Tax Audit?
Tax audits are typically mandated for businesses or individuals exceeding 1 Crore turnover thresholds
What are the consequences of non-compliance with tax audit and statutory audit?
Non-compliance with tax audit and statutory audit can result in the following consequences
- Penalty of 0.5% of the total sales, turnover, or gross receipts, or Rs. 1.5 lakhs, whichever is lower, for failure to get a tax audit or furnish the tax audit report within the due date.
- Penalty of 0.25% of the turnover or Rs. 25 lakhs, whichever is lower, for failure to get a statutory audit or furnish the statutory audit report within the due date.
- Disallowance of certain expenses or deductions claimed by the taxpayer or the company in the income tax returns.
- Rejection of the income tax returns filed by the taxpayer or the company and initiation of best judgment assessment by the Income Tax Department.
- Imposition of interest, penalty, or prosecution for concealment of income or evasion of tax by the taxpayer or the company.
What are the due dates for tax audit and statutory audit?
The due date for filing the tax audit report with the Income Tax Department is 30th September of the assessment year, or 31st October of the assessment year if the taxpayer is also liable for transfer pricing audit1. The due date for filing the statutory audit report with the Registrar of Companies is 30th September of the financial year, or 31st October of the financial year if the company is also liable for cost audit or secretarial audit2.
Request for Audit and Assurance Services
Why to Choose Dexter Consultancy For Audit And Assurance Services In Vadodara ?
When you choose Dexter Consultancy for Audit and Assurance Services in Vadodara, you’re opting for a partner dedicated to ensuring the accuracy, transparency, and success of your financial operations.
- Expertise and Experience
- Comprehensive Services
- Client-Centric Approach
- Timely and Efficient Services
Looking For Best Tax Consultancy Services in Vadodara?
In addition to providing software services , we also offer expert services to help you manage your business and legal compliances.
Goods & service Tax
GST Registration , GST Return Filing , GST Consultancy.
Accounting Service
Monthly, quarterly, and annual financial reporting statements.
Company Registration
LLP , Private Limited Company, Proprietorship.
Income tax Return
Income Tax Return, Tax consultancy, Tax Planning and Assessments
Drafting Of Legal
Affidavits , Shareholder Contract Drafting , Master Purchase and Sale Agreements.
Audit & Assurance
Internal Audit,Stock Audit,Statutory Audit Assurance.
