Independent Verification · Stakeholder Confidence · Regulatory Compliance
Audit is the independent examination of financial records, processes, and controls by a qualified professional (Chartered Accountant) to express an opinion on their accuracy, completeness, and compliance with applicable standards. Assurance services provide confidence to management, investors, lenders, regulators, and other stakeholders that the information they are relying upon is reliable.
VITTAX offers following types of audit and assurance services and helps clients regarding other audits also, each serving a distinct purpose.
An Internal Audit is a voluntary (or mandatorily required under Rule 13 of the Companies Audit and Auditors Rules for certain classes of companies) examination of a company's internal controls, risk management, and governance processes. Unlike statutory audit (which is backward-looking), internal audit is forward-looking — identifying weaknesses in processes, fraud risks, and control gaps before they materialise into losses.
✔ Who is it mandatory for: Listed companies and certain unlisted companies (Rule 13)
✔ Voluntary applicability: Any business wanting to improve controls, reduce fraud risk, or prepare for PE/IPO
A Stock Audit (Physical Inventory Verification) and Fixed Asset Audit involve physically verifying the existence, condition, and valuation of inventory and fixed assets — and reconciling physical counts with book records. Banks require annual stock audits for businesses availing working capital / CC limits. Fixed asset audits are required for accurate depreciation, insurance valuation, and reporting.
✔ Stock Audit: Businesses with CC/OD against stock pledged to banks — mandatory by lender
✔ Fixed Asset Audit: Businesses wanting to clean up their fixed asset register for accurate accounts
A Management Audit evaluates the effectiveness, efficiency, and economy of management decisions and operational processes — going beyond financial records to examine how well the organisation is achieving its objectives. It is an advisory-level engagement that provides senior management with an independent assessment of whether their strategies, processes, and resources are aligned and optimised.
✔ Who needs it: Companies whose board or PE investors want an independent view of operational efficiency
A Forensic Audit is a specialised investigation of financial records to detect fraud, embezzlement, money laundering, or other financial crimes. It combines accounting expertise with investigative techniques — examining digital evidence, bank records, and transaction trails to establish facts that can be used in legal proceedings, regulatory investigations, or insurance claims. VITTAX's forensic team handles fraud investigation, financial due diligence for acquisitions, regulatory inquiries, and whistleblower complaint investigations.
✔ Fraud Suspects: Companies suspecting employee fraud, vendor fraud, or financial misappropriation
✔ Whistleblower Cases: Boards or audit committees investigating whistleblower complaints
✔ M&A Due Diligence: Acquirers conducting financial due diligence on target companies
✔ Legal Disputes: Litigants needing expert financial evidence for court proceedings
Pricing
Internal Audit
₹9,999 onwards/qtr
Risk-based internal audit programme
Ideal for: Companies above ₹10 Cr turnover, PE-backed, Rule 13 applicants
Stock / Asset Audit
₹4,999 onwards
Physical verification and valuation
Ideal for: Businesses with CC limits, manufacturing units, warehouses
Management Audit
₹14,999 onwards
Operational effectiveness review
Ideal for: Mid-to-large companies, PE-backed businesses, post-merger entities
Forensic Audit
₹29,999 onwards
Financial fraud investigation
Ideal for: Companies, lenders, regulators, litigants needing fraud investigation
FAQs
When is a statutory audit mandatory for a private limited company?
Always — every private limited company must have its accounts audited by a Chartered Accountant every financial year, regardless of turnover or profit. There is no exemption for small companies from statutory audit under the Companies Act, 2013.
What is CARO 2020?
Companies (Auditor's Report) Order, 2020 requires auditors to report on specific matters (fixed assets, inventory, loans, frauds, etc.) in addition to the main audit report. Applicable to most companies except certain small/private companies.
⚡ Audit Covers
All types of audit under one roof — CA-signed reports, regulatory & lender accepted