Nix Advisory has been a leading provider of high-quality Chartered Accountancy services for over three decades. We are highly committed to upholding the highest standards of excellence, ethics, and technical expertise with a team of seasoned professionals. Our services include auditing, taxation, accounting, financial advisory services, and more, ministering to businesses and industries of all types. With Nix Advisory, you can have confidence in your financial success. 500+ Corporates Sector 30+ Years of Invest in A statutory audit is a legally required review of the accuracy of an organization’s financial records and documents. It is a service of examination of records held by an organization which involves analysis of financial records. A different audit is required for each financial year. Public limited company: Applicable to All. Private limited company: Applicable to All. LLP: If turnover in any financial year exceeds Rs. 40 Lakhs or its contribution exceeds Rs. 25 Lakhs. Individual or Others: If turnover exceeds Rs 1 crore in business and Rs. 50 Lakhs in Profession, in a financial year. Statutory Audit and assurance services can be provided by audit companies operated by certified chartered accountants in India. 30th September of next financial year. However, these dates can be extended by the regulatory departments. Starting from Rs 9,999 Internal audit refers to an audit for evaluation of an organisation’s internal controls and processes. Internal audit includes compliance audit, HR audit, operations audit and information technology audit. Internal Audit services can be provided by chartered accountants or certified internal auditors in India. Internal audit can be executed on monthly, quarterly, half-yearly and yearly basis depending on organization’s need. An internal auditor’s report is required before finalizing Statutory audit. Starting from Rs 7,999 Tax audit is an audit of accounts of a business or profession from an income tax standpoint. It is required to process income computation for filing of return of income. Tax audit is carried out by a certified Chartered Accountant in India. A taxpayer is required to have a tax audit if sales, turnover or gross receipts of business exceed Rs 1 crore and Profession exceeds Rs. 50 Lakhs in a financial year. Tax Audit services can be provided by certified chartered accountants in India. 30th September of assessment year. In transfer pricing cases, due date for filing tax audit is 30th November of assessment year. However, these dates can be extended by the income-tax department. Starting from Rs 9,999 A maximum of Rs 150,000 for non-filing Stock Audit is a process of physical verification of stocks maintained in the warehouse and matching results with the stock registers maintained in the company. It is also known as Inventory Audit. It is applicable to manufacturers and traders which deals in physical stocks. A Chartered Accountant and Cost Accountant can be a Stock Auditor in India. Starting from Rs 9,999 Statutory Audit is compulsory for ALL companies. Every entity registered under the Companies Act, as a Private Limited or a Public Limited company has to get its books audited every financial year. For LLPs, it is applicable if turnover in any financial year exceeds Rs. 40 Lakhs or contribution exceeds Rs. 25 Lakhs. For proprietorships, it is required to have a tax audit if sales, turnover or gross receipts of business exceed Rs 1 crore and Profession exceeds Rs. 50 Lakhs in a financial year. Internal auditor examines business practices and risks while statutory auditors examine financial statements and records of the company. A minimum of Rs 25,000 and maximum of Rs 500,000 for the company. For every officer in charge, penalty is from Rs 10,000 to Rs 100,000. No. A person whose relative is a director or key managerial person is not eligible to become an auditor of the company. No. Stock audit is not mandatory under any law. Your path to financial success begins with a collaborative approach. Allow Nix Advisory to assist you in navigating the complex world of finance. Whether you require expert auditing services, precise tax advice, or meticulous accounting services, we are here to facilitate your expansion. Take the initial step toward financial success. Contact us immediately for a consultation tailored to your specific requirements. Let’s embark on a journey together where your success is our primary objective.
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Audit Services
Served
Agnostic
Experience
India
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Statutory Audit:
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Internal Audit:
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Turnover
Above 200 Crores & above
Outstanding Loans
100 Crores & above
Paid Up Capital
50 Crores & above
Outstanding Deposits
25 Crores & above
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Tax Audit:
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Stock Audit:
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Who can be a Statutory Auditor?
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