Audit and Assurance Services

Audit & Assurance

Reliable, independent audit services that strengthen stakeholder confidence and ensure regulatory compliance across every engagement.

Independent. Thorough. Trusted.

At Piresh Jain & Co., our Audit & Assurance practice is designed to go beyond mere compliance. We deliver independent, objective audit engagements that provide stakeholders with the highest level of confidence in your financial statements and internal processes.

With over 25 years of experience serving businesses across Bhilwara, Rajasthan, and beyond, our team of qualified Chartered Accountants brings deep industry knowledge, rigorous methodology, and a proactive approach to every audit engagement.

Audit review and financial analysis
What We Offer

Our Audit & Assurance Services

01
Statutory Audit under Companies Act
Comprehensive statutory audits in full compliance with the Companies Act, 2013, ensuring accurate financial reporting and adherence to Indian Accounting Standards.
02
Concurrent Audit for Banks & Financial Institutions
Real-time, transaction-level audit for banks and NBFCs, ensuring ongoing compliance with RBI guidelines and early detection of irregularities.
03
Internal Audit & Controls Review
Thorough evaluation of internal controls, risk management frameworks, and operational processes to strengthen governance and improve efficiency.
04
Proprietary Audit
Detailed audit of proprietorship firms covering books of accounts, tax compliance, and financial health assessment for business owners.
05
Stock Audit & Inventory Verification
Physical verification and valuation of inventory, stock reconciliation with books, and reporting for banks and management on stock adequacy.
06
Tax Audit under Section 44AB
Mandatory tax audit for businesses and professionals exceeding prescribed turnover limits, with timely filing of Form 3CA/3CB and 3CD.
07
Revenue Audit
Systematic examination of revenue recognition practices, billing accuracy, and completeness of income streams to safeguard against revenue leakage.
08
Due Diligence & Special Purpose Audits
Financial and operational due diligence for mergers, acquisitions, and investments, along with special purpose audits tailored to specific requirements.
Our Approach

How We Work

Risk-Based Planning
Thorough risk assessment identifying critical areas that require focused attention and tailored audit procedures.
Partner-Led Engagement
Every audit is led by an experienced partner directly involved from planning through to the final report.
Proactive Reporting
Actionable management letters highlighting process improvements, control weaknesses, and strategic recommendations.
Compliance Assurance
Full compliance with auditing standards (SA), Companies Act, RBI norms, and other regulatory frameworks.
FAQ

Frequently Asked Questions

A statutory audit is mandated by law and conducted by an independent external auditor to express an opinion on the financial statements. An internal audit is an ongoing function established by management to evaluate internal controls, risk management, and governance processes. Both serve different but complementary purposes.
A tax audit is mandatory for businesses with turnover exceeding Rs. 1 crore (Rs. 10 crore in certain cases) and for professionals with gross receipts exceeding Rs. 50 lakhs. The audit report must be filed in Form 3CA/3CB along with Form 3CD before the due date.
A concurrent audit is a real-time, continuous examination of financial transactions as they occur, primarily required by banks and financial institutions as mandated by the RBI. It acts as an early warning system to detect irregularities and ensure adherence to guidelines.
For small to medium enterprises, it typically takes 2 to 4 weeks. For larger entities with multiple branches or complex operations, it may take 4 to 8 weeks. We work closely with your finance team to plan the audit timeline efficiently.
A due diligence audit includes review of financial statements, tax compliance history, contingent liabilities, legal matters, contracts, internal controls, and employee-related obligations. Our report helps you make informed decisions by providing a clear picture of the target entity's financial health.
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