Auditing & Assurance

Auditing & Assurance – Statutory, Internal & Tax Audits

At Mendajiwal & Co., we provide comprehensive auditing and assurance services to ensure financial transparency, regulatory compliance, and risk management for businesses of all sizes. Our expert team of Chartered Accountants ensures that your financial records are accurate, compliant, and aligned with industry standards.

  1. Statutory Audit

A Statutory Audit is a legally required audit of a company's financial records to ensure compliance with applicable laws and regulations. Our statutory audit services include:
✔ Company Audit under the Companies Act, 2013 – Ensuring compliance with the latest corporate laws
✔ Audit of Financial Statements – Reviewing balance sheets, profit & loss statements, and cash flow statements
✔ Regulatory Compliance Checks – Verifying adherence to accounting and financial reporting standards
✔ Bank & Financial Institution Audits – Conducting audits for loan approvals and financial health assessments 

Who Needs a Statutory Audit?
• Private Limited & Public Limited Companies
• LLPs exceeding turnover or capital thresholds
• Businesses with regulatory compliance requirements

  2. Internal Audit

An Internal Audit helps organizations improve operational efficiency, internal controls, and risk management. Our services include:
📌 Operational Audits – Identifying inefficiencies and optimizing business operations
📌 Risk-Based Audits – Assessing potential financial and operational risks
📌 Fraud Detection & Prevention – Implementing internal controls to prevent financial fraud
📌 Corporate Governance & Compliance Audits – Strengthening internal policies and procedures

Why Choose an Internal Audit?
• Enhances financial discipline and operational efficiency
• Identifies financial leakages and fraud risks
• Ensures compliance with internal policies and external regulations

  3. Tax Audit

A Tax Audit is required under Section 44AB of the Income Tax Act, 1961, for businesses and professionals exceeding specified turnover limits. Our tax audit services include:
✅ Verification of Books of Accounts – Ensuring accuracy in income and expense reporting
✅ Compliance with Income Tax Laws – Reviewing tax deductions, allowances, and filing requirements
✅ Form 3CA/3CB & 3CD Reporting – Preparing and filing tax audit reports with accuracy
✅ Advisory on Tax Optimization – Ensuring proper tax planning and compliance to minimize tax liabilities

Who Requires a Tax Audit?
• Businesses with turnover exceeding ₹1 crore (₹10 crore if 95% transactions are digital)
• Professionals with gross receipts exceeding ₹50 lakh
• Entities claiming presumptive taxation but exceeding income limits