Professional Audit Services in Mysore for Businesses,
Startups & Growing Enterprises

Looking for experienced auditors in Mysore? BC Shetty & Co provides comprehensive audit and assurance services designed to improve financial transparency, strengthen internal controls, and ensure regulatory compliance.

As one of the trusted CA firms in Mysore, we offer practical and insight-driven audit solutions for startups, SMEs, private limited companies, and established organizations across industries.

  • Statutory Audit
  • Internal Audit
  • Tax Audit
  • Financial Due Diligence

Introduction to Audit Services

In today’s evolving regulatory and business environment, audit is no longer limited to compliance alone. Businesses require independent financial evaluation, risk identification, and strategic insights to support sustainable growth and informed decision-making.

At BC Shetty & Co, our audit services in Mysore are structured to help organizations improve governance, enhance operational efficiency, and maintain compliance with applicable laws including the Companies Act, 2013 and the Income Tax Act, 2025.

As Independent Auditors in Mysore, we have specialized service verticals across statutory audit, internal audit, taxation, and advisory, we provide businesses with practical recommendations that go beyond routine reporting.

As a professionally managed firm of chartered accountants in Mysore, we combine technical expertise with a business-oriented approach to deliver measurable value.

intro
Services

Trusted Auditors for Businesses & Startups

Our audit team works closely with:

icon Startups and venture-backed companies

icon SMEs and family-managed businesses

icon Manufacturing and trading entities

icon Technology and SaaS companies

icon Professional service firms

We understand that growing businesses require more than traditional audits-they need strategic guidance, compliance support, and investor-ready financial reporting.

Our methodology focuses on:

icon Understanding the business operations through client interactions

icon Identifying financial and operational risks

icon Testing internal control systems

icon Ensuring statutory and tax compliance

icon Delivering actionable audit insights through detailed observations report

Whether you are preparing for investment, expansion, statutory compliance, or process improvement, our audit professionals provide dependable support at every stage.

Services

Audit Services Offered

1. Statutory Audit Services

Our statutory audit services are conducted in accordance with the provisions of the Companies Act, 2013, applicable accounting standards, and Standards on Auditing issued by ICAI.

We help companies maintain statutory compliance while ensuring financial transparency and reporting accuracy.

Key Coverage Areas:

  • Audit of financial statements
  • Verification of books of accounts under Section 128
  • Compliance with accounting standards under Section 133
  • Companies Auditor reporting Order under Section 143 (CARO)
  • Review of disclosures and schedules as part of financial statements
  • Review of Internal controls over Financial Reporting

Statutory Requirements Covered:

  • Appointment of auditor under Section 139
  • Auditor independence and reporting obligations
  • AGM-related audit compliance timelines
  • Filing of audited financials through Form AOC-4

Our Approach:

  • Drafting and signing Engagement letter
  • Risk-based audit planning
  • Kick Off meeting with client

 

  • Analytical review and substantive testing
  • Internal financial control review
  • Regular review meeting

 

  • Presenting detailed observation report along with recommendations
  • Signing Audit report and Financial Statements

Our statutory audits are designed not just to satisfy legal requirements, but also to enhance stakeholder confidence and financial discipline.

2. Internal Audit Services

Our internal audit services are designed to strengthen business processes, identify control weaknesses, and improve operational efficiency.

As prescribed under Section 138 of the Companies Act, 2013, internal audit is mandatory for specified classes of companies based on turnover, borrowings, and listing status.

Drawing from our dedicated internal audit practice, we conduct structured and risk-focused reviews tailored to the operational realities of each business.

Scope of Internal Audit Includes:

  • Review of internal financial controls (IFC)
  • SOP and process evaluation
  • Risk assessment and mitigation review
  • Verification of delegation and authorization controls
  • Compliance testing
  • Operational efficiency assessment

Key Areas Covered:

  • Procurement and purchase cycle
  • Revenue and receivables management
  • Payroll and employee reimbursements
  • Inventory and fixed assets
  • Vendor payments and approvals
  • GST and statutory compliance checks

Benefits to Businesses:

  • Improved governance and accountability
  • Fraud risk mitigation

 

  • Process optimization
  • Better financial and operational control

For more details, refer to our dedicated Internal Audit Services practice page.

3. Tax Audit Services

Our tax audit services ensure compliance with the provisions of the Income Tax Act, 2025 and Income Tax Rules, 2026.

With the introduction of the new Income Tax Act, the earlier Section 44AB provisions are now governed by Section 63.

Applicability Includes:

  • Businesses crossing prescribed turnover thresholds
  • Professionals exceeding specified gross receipts
  • Presumptive taxation cases not meeting prescribed conditions

Reporting Framework:

  • Form 3CA / 3CB
  • New Consolidated Form No. 26 replacing Form 3CD
  • Applicable from 1st April 2026 for FY 2026–27 onwards

Our Tax Audit Services Include:

  • Review of books and accounting records
  • Verification of tax compliance
  • Identification of disallowances and tax risks
  • Reporting under prescribed formats
  • Coordination with income tax return filings

Key Benefits:

  • Reduced tax exposure and penalties
  • Improved compliance accuracy
  • Better financial reporting discipline

We ensure timely completion of tax audits in line with updated compliance deadlines introduced under Budget 2026.

4. Financial Due Diligence Services

Our Financial Due Diligence (FDD) services support businesses, investors, and acquirers in evaluating the financial health, risks, and sustainability of a target business.

These services are particularly relevant during:

  • Mergers & Acquisitions (M&A)
  • Investment rounds and fundraising
  • Strategic partnerships
  • Business restructuring transactions

Our Due Diligence Coverage Includes:

  • Quality of earnings analysis
  • Revenue and profitability assessment
  • Working capital analysis

 

  • Review of contingent liabilities
  • Verification of compliance exposures
  • Identification of financial and operational risks

Why Financial Due Diligence Matters:

  • Supports informed investment decisions
  • Identifies hidden risks and liabilities

 

  • Improves valuation accuracy
  • Enhances transaction confidence

Our due diligence approach combines financial analysis with commercial understanding to deliver meaningful insights for investors and management teams.

Why Choose BC Shetty & Co. for Audit Services in Mysore

Deep domain expertise in pharma & IT industries
Proven track record with mid-sized and large enterprises
Customized audit frameworks (not checklist-based)
Strong focus on value addition—not just compliance
One of the reliable internal audit firms in Mysore

Our Audit Process

Structured, Transparent & Professional Methodology

Pre-Audit Documentation & Engagement Setup

Collection of engagement letter, financial statements, books of accounts, and supporting records.

Financial Statement Analysis & Materiality Assessment

Financial Statement Analysis & Materiality Assessment

Audit Planning & Scheduling

Defining audit scope, timelines, resources, and scheduling activities with management.

Kick-off Meeting with Client

Discussion on audit objectives, scope, documentation requirements, and timelines.

Audit Testing & Verification

Detailed testing of transactions, controls, compliance, and supporting documentation.

Preparation of Detailed Audit Observation Report

Documenting findings, risks, control gaps, and actionable recommendations.

Audit Closure & Final Reporting

Conducting closure meeting, presenting observations, and issuing final audit report with sign-off.

Future-Proof Your Transfer Pricing Strategy

With increasing scrutiny and evolving regulations, multinational IT companies need more than compliance, they need strategy.

Partner with BC Shetty & Co for Reliable Transfer Pricing in Hyderabad.

Let’s build a compliant, efficient, and audit-ready global structure.

Frequently Asked Questions

We provide statutory audit, internal audit, tax audit, GST audit support, and financial due diligence services for startups, SMEs, private limited companies, and established businesses.

The duration depends on business size, transaction volume, scope of review, and availability of documentation. Smaller audits may take a few days, while larger engagements can extend over several weeks.

Professional auditors help businesses ensure compliance, strengthen internal controls, improve financial accuracy, identify risks, and enhance stakeholder confidence.

Yes. We provide specialized audit and advisory support for startups including investor-ready financial reporting, compliance reviews, internal controls assessment, and due diligence support.

IMPORTANT LINKS

Copyright B.C Shetty & Co. © 2026. All Rights Reserved. Privacy Policy , Terms and Conditions