We are committed to delivering independent, efficient, effective and comprehensive audit and quality assurance services

An audit service is more than a formality; it is a necessity to protect your business and encourage it to thrive. Early warnings, open communication and pragmatic resolution of issues are the essential features of the approach adopted by Chandak Agarwal & Co.

By taking the time to gain a thorough understanding of their client’s businesses and by providing a risk-focused service integrating rigorous risk assessment with diagnostic processes and audit testing procedures tailored to the specific audit, our firms maintain excellent relationships with their clients. This quality-led approach means members provide an intelligent, constructive and challenging audit to every one of their clients.

• Statutory Audits: The complexity of Statutory Audit Function has increased manifolds during recent times. Globalisation, Fast Changing Business and Statutory environment combined with need for synchronisation with global accounting standards and reliance on audited accounts by multiple users has put ever increasing responsibilities on the shoulders of any statutory auditor. It is a legally required review of the accuracy of a company’s or governments financial records.

• Internal Audits : Internal audit services target pinpointing areas of improvement for business houses. Focus is to ensure strong internal control systems to minimize the risk of accidental or deliberate errors and omissions. Safeguarding of assets, adequate division of authority over key control areas and compliance with internal operating policies and guidelines are other focus areas.
  
  We are committed to abide by the defined statutory rules and regulations of internal audit and agreed memorandum of understanding. Our diligent audit team comprises expert consultants and auditors who advise our clients in everyday transactions that include division of authority over key control areas and compliance with operating policy and guidelines.

• Tax Audit : Tax Audit is a compulsory audit under section 44AB of the Income Tax Act in India which is conducted if the total turnover of a person exceeds the prescribed threshold. Tax Audit Report is given by the Chartered Accountant to the person in form 3CD prescribed under the Income Tax Act.  Our Audit Department is geared up to provide tax audit services to our clients upholding the highest standards of auditing.

• GST Audit: As per section 35(5) of CGST Act, 2017, Every registered person whose turnover during a financial year exceeds the prescribed limit shall get his accounts audited by a chartered accountant or a cost accountant and shall submit a copy of audited annual accounts, reconciliation statement under section 44(2) and other documents in such form and manner as may be prescribed.

• Transfer Pricing Audit: In taxation and accounting, transfer pricing refers to the rules and methods for pricing transactions within and between enterprises under common ownership or control. Transfer pricing provisions are applicable on international transactions and specified domestic transactions between associated enterprises (AE). Transfer Pricing Audit required under Sec 92E r.w. Rule 10E for furnishing Form 3CEB.

• Stock Audit: It is carried out on behalf of banks and financial institutions. The objective is to ensure that the security against which funds are lent by the bank is safe and valued correctly.

• Due Diligence: We assist clients in conducting financial, legal and accounting reviews in case of mergers, acquisitions and investments. A sound understanding of local laws, regulations and accounting practices enables us to vet all critical issues in detail.

• Forensic / Risk Audit: Our forensic audit focuses on high risk areas and helps you strengthen your internal controls. Forensic audit techniques seek to uncover corporate or other organization fraud. Results emanating from a forensic audit are typically used to support both civil litigation and criminal prosecutions. Forensic audit techniques can be broken down into five basic categories.