Audit Services in Hyderabad

BC Shetty & Co. is one of the top audit firms in Hyderabad, housing dedicated and skilled chartered accountants. We are known for delivering high-quality audit and assurance services such as accounting and tax planning, compliance outsourcing and assistance setting up foreign subsidiary companies in India. Our mission is to help clients attain financial success, stability and accelerated growth. By handling all compliance responsibilities, we relieve business owners, allowing them to concentrate on their core operations without distraction.

If you're seeking stress-free accounting, compliance, and auditing services in Hyderabad, consider reaching out to BC Shetty & Co. for our expert reliance.

Audit Services Offered

Audit and assurance services

Statutory Audits

An Audit conducted to review the accuracy of the financial statements and records is known as Statutory Audit. It also verifies company's financial position by examining its bookkeeping records and financial transactions

While qualified chartered accountants in Hyderabad conduct statutory audits, our firm goes a step further by analysing your financial data and providing valuable insights and recommendations.

Internal Audits

An internal audit checks the quality of an organisation. It looks at the company's internal controls, corporate governance, and accounting processes to make sure everything is working well. The audit helps the organisation reach its goals by finding ways to improve how it manages risks and governs itself.

The internal audit can be conducted by a chartered accountant, cost accountant, or any other professional appointed by the company's board. At BC Shetty & Co., we designate a Chartered Accountant to conduct internal audits. Their role involves evaluating and reviewing the company's Processes and controls.

internal audits
tax audits

Tax Audits

A tax audit carefully reviews individuals' or businesses' financial and tax records to ensure compliance with tax laws and regulations. The primary purpose of a tax audit is to confirm that the tax returns filed are accurate and complete and that the taxpayer has paid the correct amount.

BC Shetty & Co. has been providing tax audit consulting services for a significant period. We are now a member of the International Accounting Association and adhere to all quality standards while delivering our services to you.

Forensic Audits

A forensic audit is a detailed examination of an individual's or organisation's financial records to detect and investigate potential fraud, embezzlement, or other financial misconduct. This type of audit seeks to uncover deliberate misstatements or omissions of information. It involves gathering evidence that could be used in legal proceedings, making it a critical tool for resolving disputes and ensuring financial integrity.

At BC Shetty & Co., our experienced chartered accountants in Hyderabad conduct comprehensive forensic audits with utmost professionalism and confidentiality. We utilise advanced auditing techniques to trace irregularities and provide clear, actionable findings. Our team identifies financial discrepancies and offers recommendations to strengthen internal controls and prevent future issues

forensic audits
compliance audits

Due Diligence:

A financial due diligence audit evaluates a company's financial statements and statutory compliance history over the last five years on behalf of investors or acquirers. It identifies risks, verifies accuracy, and ensures regulatory adherence, providing a fact-check report to support informed decision-making.

As a trusted auditors in Hyderabad, we conduct thorough financial due diligence, leveraging up-to-date knowledge of regulations and industry standards to deliver actionable insights for your investment or acquisition needs.

Our team of experts is here to help you understand and comply with all TDS requirements related to property transactions, ensuring a hassle-free experience.

Why Choose BC Shetty & Co. for Auditing in
Hyderabad?

BC Shetty & Co. is a leading accounting firm committed to building wealth with integrity. Our vision guides us to be the leading, most organised and innovative accounting firm. We have instituted an incremental process development model driven by advisory-oriented Chartered Accountants, increasing our clients' business growth. We provide the most detailed, full-proofed services that keep our clients happy.

Once you are associated with us, we will provide the following:

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A dedicated point of contact with a quick response time.

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A three-tiered quality review process, including external peer reviews.

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Designate an expert chartered accountant with years of experience.

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Regular email updates and newsletters to share the latest trends.

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A dedicated client portal for easy access.

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Weekly status updates will keep you informed.

As a trusted CA firm and one of the reputable auditors in Hyderabad, we provide a wide range of services. These include auditing, accounting, bookkeeping, transfer pricing, and advisory services. By absorbing all compliance burdens, business owners can focus on their core operations.

Our Approach to Auditing:

tax-auditPre-engagement Planning

Our audit firm will begin the audit process with pre-engagement planning. During this phase, we will seek to understand the specific nature of your business and evaluate the risks associated with the various entities within it. Additionally, feel free to reach out to us for tax audit services.

tax-auditGathering of Financial Records and Documentation

We will collect all your financial data, including bank statements, invoices, and more. This will give us clear insight into your finances.

tax-auditConducting Audit Procedures

After collecting the data, we will conduct the audit procedure and gather all necessary evidence to support your financial statements.

tax-auditCommunication with Management and Board of Directors

We will discuss the audit findings with management and the board of directors.

tax-auditFraud Detection and Reporting

During the audit process, we will assess fraud risks and take steps to identify financial statements that may not comply with the country's rules and regulations.

tax-auditPresentation of Audit Observation Report Along with Recommendations

We will prepare the audit observation report promptly. If we identify any fraud, it will be reported to the respective authorities.

Frequently Asked Questions

A tax audit is required by:

  • Business taxpayers with a turnover of more than Rs. 1 crore
  • Professionals with gross receipts of more than Rs. 50 lakh

The purpose of a tax audit is to ensure that taxpayers maintain proper books of accounts and comply with the Income Tax Act provisions.

The tax audit report needs to be filed electronically using the Income Tax Department's online portal.

The due date for filing the tax audit report as per Section 44AB is September 30th of the relevant assessment year.

If taxpayers fail to get their accounts audited or submit the tax audit report by the due date, they may be liable to pay the penalty. The penalty equals 0.5% of the taxpayer's turnover or gross receipts.

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