Details

Audit and Assurance services form a core component of our professional practice at R V K & Associates. These services are designed to evaluate the financial and operational integrity of an organization, ensure regulatory compliance, and enhance stakeholder confidence. Our approach is risk-based, tailored to client industry and scale, and in line with the standards prescribed by the Institute of Chartered Accountants of India (ICAI).

Our Audit & Assurance Services Include:

1. Statutory Audit:

• Conducted under the Companies Act, 2013 and other applicable laws

• Examination of books of accounts, financial statements, and disclosures

• Ensuring adherence to accounting standards and regulatory compliance

• Preparation of auditor’s report as required by law

2. Tax Audit (Under Section 44AB of Income Tax Act):

• Review of tax records and documentation

• Verification of compliance with tax laws and regulations

• Filing of Form 3CA/3CB and Form 3CD with appropriate disclosures

3. Internal Audit:

• Evaluation of internal controls, operational processes, and risk areas

• Identification of control gaps and inefficiencies

• Reporting with practical recommendations for improvement

• Periodic audit schedules based on business risk profile

4. Bank Audit:

• Statutory and concurrent audit of bank branches

• Review of advances, cash, investments, and overall branch functioning

• Compliance verification with RBI guidelines and circulars

5. Concurrent Audit:

• Ongoing audit of transactions to ensure real-time compliance and accuracy

• Focus on high-risk areas like loans, NPA monitoring, cash transactions, etc.

• Reporting discrepancies on a continuous basis to management

6. Co-operative Society Audit:

• Audit in accordance with Maharashtra Co-operative Societies Act

• Verification of member records, statutory registers, and accounts

• Preparation and filing of audit report in prescribed format

7. Special / Investigation Audits:

• Forensic or investigative audits for specific transactions or fraud detection

• Fact-based assessment of financial or operational irregularities

• Detailed reporting for use by management, regulators, or courts

Audit Methodology:

• Risk assessment and planning

• Understanding and evaluation of internal control systems

• Substantive and analytical procedures

• Final reporting with observations, suggestions, and compliance notes