Practice Vertical
Independent statutory compliance, internal control reviews, and actionable management reporting delivered under direct partner supervision.
Independent statutory audit, internal audit, tax audit, and Internal Financial Controls (IFC) reviews conducted under ICAI Standards on Auditing to strengthen reporting integrity and board visibility.
How We Add Value
Our audit approach is rooted in the ICAI Standards on Auditing (SAs) and the Companies Act 2013. We do not treat audits as post-mortem tick-and-bash exercises. Every review culminates in a structured internal control deficiency letter that provides executive leadership with concrete, risk-prioritized findings.
Engagement Scope
Comprehensive financial statement audits under the Companies Act 2013, CARO 2020 reporting, and Section 44AB Tax Audits under the Income Tax Act 1961, establishing true and fair view presentation.
Systematic evaluation of Internal Financial Controls over Financial Reporting (IFC/ICFR) under Section 134(5)(e). Mapping processes, testing control design, and evaluating operating effectiveness.
Targeted vouching verification, expenditure leakage diagnostics, and standard operating procedure adherence across critical transaction cycles (Procure-to-Pay, Order-to-Cash).
Direct partner discussions with audit committees, promoters, and CFOs, articulating control weaknesses, accounting estimates scrutiny, and practical remediation steps.
We execute statutory audits under the Companies Act 2013, tax audits under Section 44AB of the Income Tax Act 1961, CARO 2020 reporting, and internal control reviews. Every engagement adheres to the Standards on Auditing issued by ICAI, ensuring rigorous substantive testing and verifiable audit evidence.
Clients typically engage us when operations expand across multi-location facilities, when statutory and CARO reporting mandates tighten, or when lenders and boards require higher assurance on balance sheet veracity and covenant compliance.
At VARAIYA & SHAH LLP, senior partners lead the planning, review key risk areas, and directly lead executive closing meetings. Observations are presented with practical operational context rather than boilerplate disclaimers.
Consult a Partner
We can help you determine whether this engagement requires recurring statutory support, an internal control diagnostic, or a structured advisory intervention.