Auditing and Assurance Services

Audits are retrospective, independent checks on an organisation’s financial situation. An audit is more than a formality; it is a necessity to protect your business and encourage it to thrive. In today’s changing global economy, before any business can create value, it must create trust - businesses need trusted advisers.

At Venus Shah & Associates, we believe that assurance goes beyond our statutory responsibilities to report on a company’s accounts, which is why Audit & Assurance is one of our firm’s core service lines. An auditor will assess the client’s systems and records for accuracy, honesty and risk and can add value to client organisation and assist management in their decision-making process. Our audit & assurance experts take the time to understand your business as well as the sectors in which you operate. We can help you identify major risks and opportunities over and above performance of the traditional financial reporting function.

Our firm provides audit services of the highest standards, complying with auditing standards and maintaining strict quality control procedures. We believe the audit should be viewed as an opportunity, not an overhead. Providing appropriate insights into maximising the potential of your business, can actually serve to enhance the operation of your business.

Every company registered in India has to get its accounts audited from a Chartered Accountant every year. Our team carries out Statutory audit of Indian companies, due diligence compliance with the Indian corporate laws, performs internal auditing to review the internal control systems of the organisations
Every assesse, whose turnover of a business exceeds Rs.2 Crore or total receipts from any profession exceeds Rs.50 Lakhs in any previous year, is required to get his accounts audited and reported as per section 44AB of the Income Tax Act. We have a team of tax experts to carry out tax auditing of entities in compliance with the Income Tax Act.
For in depth checking of day-to-day transactions, large business organisations require internal audit. We have sufficient and capable staff strength to conduct these types of Service Tax. We perform internal auditing to review the internal control systems of the organisations and review the compliance with statutory requirements concerning an entity.
Goods & Service Tax (GST) is the most significant indirect taxes that every business entity encounters in the course of doing business. Under the GST system, a major thrust is laid on the 'self-assessment' of tax liability by the assesse. Hence, arises, the need for an independent auditor to audit business entities. Our team of professionals facilitate the determination of any under or over assessment made by the assesse, through the appropriate interpretation and application of the GST provisions by offering GST audit services.