Audit & Attestation
Independent, objective assurance on your financial statements and internal processes — delivered with Big 4 experienced rigour and the personal attention of a boutique firm.
Audit & Attestation Services
Statutory audit is not merely a regulatory obligation — it is a critical governance mechanism that builds stakeholder confidence, identifies systemic risks, and lays the foundation for sound financial management. At S.K. Vij & Associates, we treat every audit engagement as a genuine value-creation opportunity.
Our audit practice is led by Abhay Vij (FCA, LL.B, DISA) and Ankit Mahajan (FCA) — both PwC alumni with significant prior experience. The team also includes Nikhil Jain (FCA, ACA, US CPA, CS) for specialised internal audit and US outsourcing mandates. Together they cover the full spectrum of audit and assurance requirements for Indian and multinational entities.
Our team of Chartered Accountants, Company Secretaries, US CPAs and Advocates brings multi-disciplinary expertise to every engagement.
- Statutory Audit under Companies Act 2013 — including CARO 2020 reporting
- Tax Audit u/s 44AB — Form 3CA/3CB and 3CD with all annexures
- Ind AS & IFRS Implementation — financial statements for complex groups
- Big 4 Audit Support — working papers, schedules, query responses
- MNC Subsidiary Audit — Ind AS accounts, audit closure support
- Certification Services — net worth, turnover, export remittance
- Bank & NBFC Audit — statutory branch audit, concurrent audit
- Business Valuation — Income Tax, RBI (FEMA), ROC purposes
Our Audit & Attestation Services
A comprehensive suite of assurance services — for Indian companies, MNC subsidiaries, NGOs, banks, and NBFCs — delivered by a team of Chartered Accountants, US CPAs, and Company Secretaries with Big 4 experienced backgrounds.
Audit of financial statements under Companies Act 2013 — including CARO 2020, management letter, and internal control observations. For companies of all sizes.
Mandatory tax audit for entities above turnover limits. Accurate Form 3CA/3CB and 3CD with all annexures, filed before statutory deadlines.
Ind AS financial statement preparation and audit closure support for Indian subsidiaries of foreign multinationals — aligned to parent-company reporting standards.
Acting as accounting advisor for clients audited by Big 4 firms — working papers, audit schedules, and query responses to facilitate efficient audit closure.
First-time adoption, financial statement preparation, technical accounting opinions, and ongoing Ind AS/IFRS reporting support for listed and MNC entities.
Net worth, turnover, utilisation, export remittance certificates — ICAI standard attestation for regulatory, banking, and commercial purposes.
Statutory audit of bank branches, concurrent audit, NBFC audit, Housing Finance Company audit, and MFI statutory audit.
Audit of trusts, societies, and Section 8 companies — including FCRA returns, 80G/12A compliance audit, and donor fund utilisation reports.
Independent business valuation for Income Tax (Rule 11UA), RBI/FEMA (FDI pricing), and ROC purposes — prepared by qualified valuers with full documentation.
Our Three-Stage Audit Approach
Every S.K. Vij audit engagement follows a structured, documented methodology ensuring consistency, regulatory compliance, and actionable management insights.
Understanding the client's business, regulatory environment, related parties, and significant risk areas. Designing tailored audit procedures and determining materiality thresholds.
Mid-year visit covering internal controls assessment, process walkthroughs, and preliminary substantive procedures — identifying issues while time remains to address them.
Comprehensive substantive testing across all balance sheet and P&L items using controls-based checklists and audit software. Verification of year-end positions and disclosures.
Audit report issuance alongside a detailed management letter — containing prioritised observations, control weaknesses, and practical recommendations for the Board.
Audit Compliance Calendar
We track every compliance deadline for our clients — ensuring zero late filings and zero penalties.
| Audit Type | Applicable To | Due Date |
|---|---|---|
| Statutory Audit | All Companies | Before AGM (Sep 30) |
| Tax Audit 44AB | Turnover > ₹1 Cr | September 30 |
| Transfer Pricing | Intl transactions | October 31 |
| FCRA Audit (FC-4) | NGOs, Foreign funds | December 31 |
| GSTR-9C | Turnover > ₹5 Cr | December 31 |
| Concurrent Audit | Bank branches | Monthly |
Our Key Differentiators
Strict independence from all audit clients — no consulting engagements, no financial interests, no compromises. Opinions that are unqualified and fully defensible.
Strong track record of completing all audits before regulatory deadlines — giving clients time to review observations without last-minute pressure or panic.
Both lead partners trained at Big 4 firms. Our documentation and review standards mirror Big 4 quality — at a fraction of Big 4 billing rates. Same rigor, personal attention.
15+ years in Statutory Audit & Assurance. Specialises in IFRS, Ind AS, IPO Advisory, MNC subsidiary compliance, and Big 4 audit support. Partner & Head of Audit Practice at S.K. Vij & Associates.
Frequently Asked Questions
Yes. Under the Companies Act 2013, every company incorporated in India — including private limited companies, one-person companies, and small companies — must get its financial statements audited annually by a Chartered Accountant. There is no minimum turnover threshold for statutory audit under the Companies Act, making it mandatory for all incorporated companies.
A statutory audit is mandated by the Companies Act 2013 and focuses on whether financial statements give a true and fair view. A tax audit under Section 44AB of the Income Tax Act is required if business turnover exceeds prescribed limits and focuses on specific tax-related disclosures in Form 3CD. Both are typically conducted by the same auditor — and we coordinate both for our clients to ensure full alignment and zero duplication of effort.
Yes — this is one of our most in-demand services. We act as accounting advisors for many MNC subsidiaries whose statutory auditors are Big 4 firms. We prepare the complete Ind AS financial statements, all audit schedules and working papers, respond to auditor queries, and facilitate full audit closure — significantly reducing the time and cost burden on your finance team.
For a well-organised SME with clean books, a statutory audit typically takes 2–4 weeks from receipt of complete records. For larger or more complex entities, 4–8 weeks. We conduct an interim review mid-year to significantly reduce year-end audit time. All our engagements are completed well ahead of statutory deadlines.
CARO 2020 requires auditors to comment on 21 specific matters including fixed assets, loans, investments, internal audit adequacy, statutory dues, and fraud. It applies to all companies except banking companies, insurance companies, Section 8 companies, and small companies meeting the size criteria. Our audit reports include fully compliant CARO 2020 annexures for all applicable clients.