Statutory Audit
An annual audit of your financial statements, required for every company under the Companies Act — regardless of size or turnover.
Statutory · Tax · GST · Internal · Secretarial
Business Audits & Compliance — Statutory, Tax, GST & Secretarial Audits
Legalkarobar.com manages the full range of audits a growing business faces — checked against the actual turnover, capital, and borrowing thresholds that trigger each one, not a generic checklist applied regardless of your size.
Statutory Every Company44AB Tax AuditGSTR-9C GST Reconciliation138/204 Internal & Secretarial
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Audit Types — Statutory, Tax, GST, Internal & Secretarial
Threshold-Matched
We Check What Actually Applies to You
Calendar-Tracked
Every Deadline Flagged in Advance
CA/CS-Led
Reviewed by Qualified Professionals
The Ones Most Businesses Need
Core Audits Every Business Should Know
Tax Audit (Section 44AB)
A Chartered Accountant's review confirming your books comply with tax law, once you cross the applicable turnover threshold.
GST Annual Return & Reconciliation
GSTR-9 reconciles your year's GST filings; GSTR-9C reconciles them further against your audited financial statements.
The Ones That Apply Later
Audits That Apply as You Scale
Both of these only kick in once a company crosses specific size thresholds — most startups and small businesses aren't there yet.
Internal Audit
An independent review of internal controls, risk management, and governance — mandatory for listed companies always, and for larger unlisted and private companies.
Secretarial Audit
A non-financial compliance check by a practising Company Secretary, verifying adherence to corporate law and governance norms.
Is This Service For You
Who Needs This Service
Newly incorporated companies needing their first statutory audit
Businesses that just crossed the tax audit turnover threshold
GST-registered businesses approaching the GSTR-9C threshold
Growing companies unsure which audits now apply to them
Companies preparing for funding, due diligence, or acquisition
Businesses wanting one team managing the whole compliance calendar
How It Works
Our Audit & Compliance Process
Seven stages, whether you need one audit or all five.
01
Applicability Review
We check your turnover, capital, and borrowings against every audit threshold that could apply to you.
02
Engagement & Scope
Once applicability is confirmed, we scope exactly what each audit needs to cover and by when.
03
Books & Records Review
Financial statements, registers, and supporting documentation are reviewed for completeness first.
04
Fieldwork & Testing
The relevant auditor examines transactions, controls, and compliance against the applicable law.
05
Findings & Draft Report
Discrepancies or observations are discussed with you before anything is finalized.
06
Report Finalization & Filing
The signed report is filed with the Registrar, tax authorities, or GST portal as required.
07
Compliance Calendar Update
Your next audit and filing deadlines are logged so nothing is missed next cycle.
What Gets Reviewed
What We Review
Financial Records
- Books of accounts & ledgers
- Bank statements & reconciliations
- Sales, purchase & expense records
Regulatory Filings
- GST returns filed through the year
- Prior year's audit & ROC filings
- Statutory registers & board minutes
Governance Records
- Internal controls & approval workflows
- Related-party transaction records
- Board & shareholder resolutions
Decide Faster
Applicability at a Glance
| Audit Type | Applies To | Key Threshold | Governing Provision |
|---|---|---|---|
| StatutoryStatutory Audit | All companies | No threshold — always mandatory | Companies Act, 2013 |
| TaxTax Audit | Businesses & professionals above threshold | ₹1 Cr (₹10 Cr low-cash) / ₹50L professionals | Income Tax Act, Section 44AB |
| GSTGST Return & Reconciliation | GST-registered businesses above threshold | GSTR-9: >₹2 Cr · GSTR-9C: >₹5 Cr | CGST Act, Section 44 |
| InternalInternal Audit | Larger private & public companies | Turnover ≥₹200 Cr or borrowings ≥₹100 Cr | Companies Act, Section 138 |
| SecretarialSecretarial Audit | Listed & larger public companies | Paid-up capital ≥₹50 Cr or turnover ≥₹250 Cr | Companies Act, Section 204 |
Thresholds are assessed on the preceding financial year's figures and are revised from time to time — talk to us to confirm exactly which audits apply to your business today.
Plan Ahead
Timeline & Engagement
Typical Timeline
Applicability reviewSame day
Books & records review3–5 days
Fieldwork & testing1–3 weeks
Report finalization & filing3–5 days
Total, per audit cycle3–6 weeks
Timelines vary with company size, transaction volume, and how many audit types apply together.
What Determines Cost
Company size & transaction volumePrimary driver
Number of applicable audit typesQuoted per audit or bundled
Complexity of recordsPrior compliance gaps add time
Engagement typeOne-time or ongoing annual retainer
We quote after the applicability review, once we know which audits genuinely apply — talk to us for a scoped number.
Why It's Worth Doing Properly
Why Getting This Right Matters
Avoids penalties for late or missed statutory filings
Keeps you eligible for bank loans & credit facilities
Clean records make investor & acquirer due diligence faster
Catches discrepancies before regulators do
Protects directors from personal liability for non-compliance
Strengthens internal controls, not just paperwork
Gives you accurate, audited numbers for real decisions
Builds credibility with regulators, lenders & partners
Why Legalkarobar.com
Why Businesses Choose Legalkarobar.com for Audits & Compliance
We check applicability first, so you're never paying for — or missing — an audit that doesn't fit your situation.
Threshold-matched, not one-size-fits-all
We check your actual figures against the current turnover, capital, and borrowing thresholds before recommending anything.
One team across your whole compliance calendar
If we also handle your GST or ROC filings, your audits are scheduled to fit around them, not as a separate disconnected task. See our GST & tax registration service.
CA/CS-reviewed, not templated
Every audit type is led by the appropriately qualified professional — a Chartered Accountant or Company Secretary, as the law requires.
Deadlines tracked, not left to memory
Once your applicability is confirmed, every relevant deadline goes on a calendar we manage, not one you have to remember yourself.
See It In Action
Watch: How We Handle Business Audits & Compliance
A short walkthrough of our applicability-to-filing process is in production — the step-by-step breakdown above covers everything it will show.
Questions, Answered
Frequently Asked Questions
Yes. Every company registered under the Companies Act, 2013 must have its accounts audited annually, regardless of turnover, revenue, or whether it's actively trading — there's no small-company exemption. LLPs are the exception: a statutory audit is only mandatory once turnover exceeds ₹40 lakh or capital contribution exceeds ₹25 lakh.
A business needs a tax audit once turnover exceeds ₹1 crore in a financial year, extended to ₹10 crore if cash receipts and cash payments are each 5% or less of the total. Professionals face a lower, fixed threshold of ₹50 lakh in gross receipts, with no equivalent digital-transaction relief.
No. GSTR-9C, the GST reconciliation statement, is only mandatory once aggregate turnover exceeds ₹5 crore in a financial year, and has been self-certified rather than CA-certified since FY 2020-21. The annual return, GSTR-9, has a lower threshold of ₹2 crore, so you may need to file that even if GSTR-9C doesn't apply yet.
A statutory audit, required under the Companies Act, examines whether your financial statements give a true and fair view of the company's affairs, and applies to every company regardless of size. A tax audit, required under the Income Tax Act once you cross a turnover threshold, checks specifically that your books comply with tax law ahead of filing your return — a company can need both, filed by the same or different auditors.
A private company must appoint an internal auditor under Section 138 once its turnover exceeds ₹200 crore or its outstanding loans and borrowings exceed ₹100 crore in the preceding financial year. Below those thresholds, internal audit is voluntary, though many companies adopt it anyway as a governance practice, especially ahead of fundraising.
No. Every listed company needs one, but so does any public company with paid-up share capital of ₹50 crore or more, or turnover of ₹250 crore or more, or outstanding bank/financial institution borrowings of ₹100 crore or more. It's conducted by a practising Company Secretary and reported in Form MR-3, attached to the Board's Report.
Late or missed statutory audits can attract penalties on the company and its officers under the Companies Act, and unresolved non-compliance can affect your ability to file annual returns, raise funding, or pass regulatory checks later. We build your audit timeline around your financial year-end specifically to avoid this.
Yes, though by design some audits are meant to be independent of each other — for instance, the statutory auditor and internal auditor are typically expected to be separate to preserve objectivity. We coordinate the full compliance calendar even where different qualified professionals need to sign off on different reports.
Keep Going
Related Services
Get Your Compliance Reviewed
Tell us your company type, turnover, and current filings — we'll confirm exactly which audits apply within 24 hours.
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Book a free compliance review
We'll check your applicability against every audit threshold and send a scoped plan within 24 hours.
Phone
Coverage
Companies & LLPs pan-India
Response Time
Within 24 hours, Monday to Friday
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Free consultation — we'll get back to you within 24 hours on business days.
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