Audit Services in India for SMEs Statutory • Tax Audit (44AB) • Internal • GST Reconciliation • Forensic Support
Shunyatax Global delivers documentation-first audits with clean workpapers, clear timelines, and board-ready reporting — designed for Indian businesses that want compliance + credibility.
(scope-based)
(business days)
(Day-0 shared)
- Statutory Audit under Companies Act, 2013 with structured workpapers.
- Tax Audit under Section 44AB with reporting coordination + query-ready evidence.
- Internal Audit for controls, risk, SOP adherence, fraud red flags.
- GST Reconciliation (GSTR-1 vs 3B + ITC alignment) to reduce mismatch exposure.
- Forensic Support for irregularity checks & evidence-backed summaries.
- Trial Balance + Ledger export (FY)
- GST returns (GSTR-1/3B) + reconciliation working
- TDS/TCS summary + challans
- Bank statements + confirmations
- ROC filings / Board minutes (as applicable)
Results depend on scope & data readiness. Typical SME cycles range 7–14 days with scope-based variations.
Our Range of Audit Services
Shunyatax Global audits are designed to reduce compliance risk, improve financial governance, and create stakeholder confidence — with clean documentation trails.
Statutory Audit
Companies Act compliant audit with structured workpapers and board-ready reporting.
Tax Audit (44AB)
Books alignment + reporting support + evidence mapping for tax audit readiness.
Internal Audit
Controls testing, SOP review, process gaps, risk scoring, and leakage reduction.
GST Reconciliation
GSTR-1 vs 3B alignment, ITC mismatch analysis, vendor compliance review.
Forensic Support
Irregularity checks with evidence trails & investigation-ready documentation.
Management / Compliance Audit
Governance + compliance review with actionable recommendations for leadership.
Types of Audit Services in India – Explained for Businesses
Auditing is not just a statutory obligation — it is a practical tool for risk management, compliance clarity, and credibility. Depending on your entity type, turnover, regulatory exposure, and stakeholder expectations, different audit services may apply.
1) Statutory Audit under the Companies Act, 2013
Mandatory for companies registered in India, irrespective of turnover or profitability.
- Purpose: verification of financial statements + legal compliance + reporting to shareholders.
- Who requires: Private Limited, Public Limited, OPC (as applicable).
- Coverage: Balance Sheet, P&L, books, supporting documents, accounting standards.
2) Tax Audit under Section 44AB (Income-tax Act)
Applicable when turnover/receipts cross the thresholds prescribed under Section 44AB.
- Objective: verify income computation + tax disclosures + non-compliance risk detection.
- Commonly for: trading, manufacturing, and professionals exceeding prescribed limits.
- Impact: cleaner filings + reduced future disputes + query-ready documentation.
3) Internal Audit for Process & Control Review
Management-driven audit to evaluate internal controls, operational efficiency, and risk exposure.
- Control weakness detection + fraud/leakage prevention
- SOP adherence improvement + better decision-making inputs
- Best for SMEs scaling operations + multi-department businesses
4) GST Reconciliation (Compliance & Notice Reduction)
GST compliance needs continuous reconciliation between returns, books, and ITC records.
- GSTR-1 vs GSTR-3B reconciliation
- ITC mismatch analysis + vendor compliance review
- Mismatch bucketization into 5 categories for faster closure
5) Forensic Audit & Investigation Support
Designed to detect financial irregularities, fraud indicators, and control breaches with evidence-backed reporting.
- Used for suspected fraud, disputes, and regulatory investigations
- Evidence trail mapping suitable for high-risk situations
- Deliverable: findings summary + supporting documents pack
6) Management & Compliance Audit
Evaluates governance, compliance gaps, and decision frameworks to improve operational discipline.
- Governance structures + compliance gap closure
- Risk mitigation strategy mapping
- Practical roadmap: 30–60 days (scope-based)
Who Should Consider Audit Services?
- Startups preparing for funding, expansion, or due diligence readiness.
- SMEs needing compliance stability + process improvement.
- Growing companies seeking investor/bank readiness and governance improvement.
- Businesses facing scrutiny where documentation clarity matters the most.
Shunyatax Global follows a scope-driven and documentation-first approach so your audit is not “just a report” — it becomes a control & credibility upgrade.
How Our Audit Process Works
- Step 1: Consultation — scope, timelines, and readiness inputs.
- Step 2: Planning — checklist + risk flags + priorities.
- Step 3: Data collection — ledgers, GST/TDS, bank trails, confirmations.
- Step 4: Execution — testing, reconciliation, analysis, evidence mapping.
- Step 5: Reporting — findings + recommendations + next-30-day plan.
Frequently Asked Questions
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Ready to secure your business with professional auditing?
Book a free consultation — get scope clarity + estimate in 24 business hours (typical).
