Audit and Assurance

Statutory Audit Services

R. Tulsian & Co. LLP is dedicated to delivering statutory audit services that enable organizations to achieve compliance and financial excellence with confidence.

• Foundation of Compliance and Accuracy
  • Conduct statutory audits in strict adherence to the Companies Act, 2013, and Limited Liability Partnership Act, 2008.
  • Perform tax audits under Section 44AB of the Income Tax Act, 1961, ensuring fiscal compliance and mitigating financial inaccuracies.
• Comprehensive Client Coverage
  • Serve large corporations, SMEs, government agencies, non-profits, private entities, partnerships, trusts, educational institutions, and healthcare facilities.
  • Deliver industry-specific insights that enhance transparency and uphold regulatory compliance.
• Sector Expertise
  • Extensive experience across industries, including manufacturing, mining, textiles, electronics, real estate, retail, e-commerce, and service sectors.
  • Specialized knowledge in finance, hospitality, healthcare, education, start-ups, and other service industries.
  • Tailored audits addressing unique operational and compliance needs across various sectors.
• Robust Audit Methodology
  • Maintain precision, regulatory adherence, and stakeholder confidence through a meticulous audit process.
  • Align financial practices with sector-specific regulations and ensure thorough scrutiny of financial records.
• Commitment to Excellence
  • Reinforce clients' financial and compliance frameworks, empowering them to navigate complex regulatory environments.
  • Enhance stakeholder trust and operational transparency with integrity and accuracy at the core of every engagement.

Internal Audit Services

R. Tulsian & Co. LLP empowers organizations with precise, forward-looking internal audit solutions designed to drive operational improvement and regulatory confidence.

• Comprehensive Internal Audits
  • Rigorous reviews to strengthen internal controls, enhance efficiency, and ensure regulatory compliance.
  • Audits tailored for entire organizations or specific business functions.
• Sector-Specific Expertise
  • Customized audits for industries including manufacturing, healthcare, education, automotive, start-ups, and more.
  • Addressing unique operational risks and compliance needs across diverse sectors.
• Statutory Compliance Assurance
  • Income Tax Act, 1961: Ensuring compliance with tax laws, updates, and notifications.
  • GST Act, 2017: Detailed reviews to confirm GST adherence, including transaction scrutiny.
  • Customs Act, 1962: Compliance for cross-border transactions.
  • Companies Act, 2013: Corporate governance and statutory record audits.
  • FEMA & RBI Regulations: Safeguarding against foreign exchange and banking rule breaches.
  • Labor Laws: Ensuring compliance with ESIC, EPF, Factories Act, and more.
  • SEBI Act, 1992: Adherence to securities and stock exchange regulations.
• Risk Management and Governance
  • Identifying operational risks and improving resilience through robust internal control frameworks.
  • Fostering sustainable growth by addressing governance and compliance challenges.
• Diverse Client Base
  • Serving corporations, SMEs, non-profits, schools, hospitals, and partnerships.
  • Expertise in industries such as textiles, tea production, leather goods, dry fruits, and more.
• Cross-Functional Audits
  • Comprehensive reviews targeting entire organizations or specific functions to optimize operations.
• Tailored Sector Solutions
  • Customized audits addressing unique industry risks and statutory requirements.
• Sustainable Partnerships
  • Strengthening compliance and governance while driving growth and mitigating risks.
• Actionable Insights for Growth
  • Delivering detailed audit reports with recommendations to enhance operations and meet compliance standards.
  • Enabling clients to maintain excellence in governance and achieve long-term success.

Stock Audits and Verifications

At R. Tulsian & Co. LLP, we deliver precise and actionable stock audits that strengthen inventory management, promote financial transparency, and enhance operational efficiency.

• Comprehensive Inventory Insights
  • Detailed assessments of inventory accuracy, stock movement, and valuation for enhanced transparency.
• Physical Stock Verification
  • Verifies stock quantities, locations, conditions, and movement, ensuring alignment with records.
• Valuation Analysis
  • Reviews inventory against industry benchmarks and accounting standards for precise financial reporting.
• Sector-Specific Expertise
  • Tailored audits for industries such as manufacturing, retail, healthcare, hospitality, and non-profits.
• Manufacturing Audits
  • Specialized expertise in sectors like iron & steel, textiles, automotive, and medical supplies to manage complex inventory challenges.
• Retail & Wholesale Audits
  • Supports wholesalers and retailers in stock verification, minimizing shrinkage, and optimizing supply chains.
• Regulatory Compliance
  • Ensures inventory management practices meet industry standards, legal requirements, and financial integrity.
• Actionable Recommendations
  • Offers practical solutions to improve stock control, operational efficiency, and asset management.
• Customized Audit Approach
  • Adapts audits to unique operational structures, inventory risks, and specific business objectives.

Bank Audits

R. Tulsian & Co. LLP provides specialized bank audit services to ensure regulatory compliance, financial integrity, and operational excellence for banks and financial institutions. With expertise in national and international banking regulations, we deliver audits tailored to meet client-specific requirements.

Key Audit Services :

• Regulatory Compliance & Reporting
  • Ensure adherence to the Banking Regulations Act, 1949, RBI Act, 1934, Basel guidelines, and IND-AS standards to prevent regulatory breaches.
• Financial & Operational Analysis
  • Assess asset and liability management, loan portfolios, credit risk, and capital adequacy for accurate reporting and enhanced efficiency.
• Internal Controls & Risk Management
  • Evaluate governance frameworks, cybersecurity, AML, KYC, and fraud prevention measures to strengthen internal controls and mitigate risks.
• Treasury & Liquidity Management
  • Review investment portfolios, liquidity strategies, and hedging practices to optimize asset allocation and ensure compliance with liquidity ratios.
• Credit & Loan Audits
  • Analyze lending practices, loan approvals, collateral management, and recovery mechanisms to minimize default risks.
• Actionable Insights
  • Deliver detailed audit reports with practical recommendations to improve compliance, risk management, and operational processes.

Forensic Audit Services

R. Tulsian & Co. LLP specializes in forensic audits to detect and investigate financial irregularities, fraud, and misconduct, safeguarding organizations’ reputation and integrity. Using advanced analytical tools and investigative expertise, we provide comprehensive and legally compliant audit services tailored to diverse industries.

Key Forensic Audit Offerings :

• Comprehensive Financial Investigation
  • Rigorous examination of financial records to detect discrepancies, fraud, and irregularities.
• Advanced Analytics & Techniques
  • Employ state-of-the-art tools, including data mining, pattern recognition, and digital forensics, to uncover complex issues.
• Critical Focus Areas
  • Detailed scrutiny of revenue recognition, asset valuation, intercompany transactions, and expense claims.
• Internal Control Assessment
  • Identify vulnerabilities in control mechanisms and recommend measures to mitigate fraud risks.
• Legally Compliant Reporting
  • Deliver detailed audit reports adhering to legal standards, providing reliable evidence for regulatory or litigation purposes.
• Tailored Solutions for Diverse Sectors
  • Expertise in manufacturing, retail, trading, and other industries, offering sector-specific forensic audit solutions.
• Commitment to Transparency & Integrity
  • Reinforce trust, accountability, and financial resilience through meticulous forensic investigations.

At R. Tulsian & Co. LLP, our forensic audits empower organizations to address financial challenges, uphold compliance, and build a foundation of trust and integrity.

Risk Audit Services

At R. Tulsian & Co. LLP, we provide specialized risk audit services to safeguard financial integrity and ensure regulatory compliance. Our risk audits meticulously identify, assess, and mitigate potential risks, empowering organizations to enhance operational efficiency and strengthen their compliance frameworks.

Key Risk Audit Offerings

• Comprehensive Risk Identification
  • In-depth evaluation of financial, operational, and compliance processes to uncover risks and vulnerabilities.
• Integrated Risk Analysis
  • Assessment of both internal and external factors, including market fluctuations, regulatory shifts, cybersecurity threats, and operational inefficiencies.
• Advanced Risk Assessment Methodologies
  • Utilize industry-leading techniques to evaluate existing risk management strategies and identify areas for enhancement.
• Actionable Strategic Recommendations
  • Provide tailored solutions to fortify risk management frameworks, ensure regulatory compliance, and optimize business operations.
• Proactive Risk Management
  • Equip organizations with the tools and strategies to implement robust controls and foster a proactive culture of risk mitigation.
• Informed Decision-Making Support
  • Deliver critical insights that guide executives in making informed, strategic decisions, ensuring long-term resilience and business continuity.

Our Risk Audit services offer organizations the insights needed to navigate uncertainties and strengthen their risk management frameworks, ensuring sustainable growth and operational excellence.

Concurrent Audit Services

At R. Tulsian & Co. LLP, our Concurrent Audit services offer real-time assurance by proactively verifying financial transactions as they occur. This immediate oversight ensures that discrepancies and irregularities are swiftly detected, enabling timely corrective actions and fostering ongoing compliance and transparency.

Key Concurrent Audit Offerings :

• Real-Time Transaction Monitoring
  • Continuously verify financial transactions as they occur to ensure immediate accuracy and regulatory compliance.
• Instant Discrepancy Detection
  • Quickly identify and address irregularities, minimizing risks and operational disruptions.
• Comprehensive Coverage
  • Review of key functions such as procurement, sales, finance, and reporting, ensuring a thorough audit of critical business activities.
• Integrated Operational Transparency
  • Embed audit processes seamlessly within daily operations to enhance visibility and foster a culture of accountability.
• Proactive Risk Mitigation
  • Detect and address potential risks early, safeguarding financial integrity and business continuity.
• Regulatory Compliance Assurance
  • Ensure adherence to regulatory frameworks, industry standards, and internal policies for ongoing compliance.
• Advanced Data Analytics
  • Utilize cutting-edge tools to monitor, analyze, and control transaction flows in real-time.
• Actionable Insights
  • Provide timely, precise recommendations that optimize decision-making and enhance operational performance.
• Strategic Partnership
  • Support organizational success through continuous compliance, risk management, and sustained operational excellence.

Our Concurrent Audit services provide clients with the proactive oversight needed to maintain financial integrity, operational efficiency, and compliance in an ever-changing business landscape.

Compliance Audits

At R. Tulsian & Co. LLP, our Compliance Audit services are designed to provide organizations with a thorough evaluation of their adherence to regulatory and contractual obligations. We ensure that all processes, policies, and operations align with legal requirements and industry standards, safeguarding against potential compliance risks.

Key Compliance Audit Offerings:

• Comprehensive Compliance Evaluation
  • Perform an in-depth review of adherence to legal, regulatory, and contractual obligations across various sectors.
• Systematic Risk Assessment
  • Analyze policies, procedures, and operational practices to identify gaps and areas of non-compliance.
• Regulatory Compliance Expertise
  • Assess compliance with critical laws such as the Companies Act, Income Tax Act, GST Act, and sector-specific regulations.
• Risk Mitigation & Legal Safeguarding
  • Proactively identify and address compliance risks, minimizing exposure to penalties and safeguarding reputation.
• Strategic Insights & Recommendations
  • Provide actionable recommendations to enhance compliance frameworks, optimize operational efficiency, and improve internal controls.
• Comprehensive Reporting
  • Deliver clear, concise audit reports outlining compliance levels, deviations, and suggested improvements.
• Trusted Expertise
  • Empower organizations with expert knowledge to navigate complex regulatory landscapes, ensuring sustained compliance and growth.

Our Compliance Audit services equip clients with the tools and insights needed to maintain legal and regulatory integrity, mitigate risks, and support long-term organizational success.

Risk Management & Internal Control Reviews

At R. Tulsian & Co. LLP, our Risk Management and Internal Control Reviews are designed to enhance organizational resilience, mitigate risks, and strengthen governance structures. We provide comprehensive assessments to ensure that businesses are well-equipped to navigate uncertainties while maintaining financial integrity and compliance.

Key Services Offered:

• Thorough Risk Assessments
  • Evaluate and refine risk management frameworks to proactively identify and mitigate operational, financial, and compliance risks.
• Customized Risk Mitigation Solutions
  • Collaborate with stakeholders to deliver tailored strategies that address unique vulnerabilities and bolster risk management practices.
• Internal Control Evaluation
  • Assess the robustness of internal control systems to protect assets, ensure accurate financial reporting, and maintain full regulatory compliance.
• Strategic Insights & Recommendations
  • Provide actionable recommendations that optimize internal controls, enhance governance structures, and improve operational efficiency.
• Proactive Risk Mitigation
  • Equip organizations to navigate potential risks confidently, fostering a culture of transparency, accountability, and sustainable growth.

Through our specialized reviews, we empower clients to strengthen their internal control environments and effectively manage risks, supporting long-term strategic objectives and operational success.

Agreed-Upon Procedures (AUP)

At R. Tulsian & Co. LLP, our Agreed-Upon Procedures (AUP) service is tailored to address the specific informational needs of our clients and stakeholders. This focused engagement delivers precise insights into designated financial, operational, or compliance areas, empowering informed decision-making without the broader scope of a full audit.

Key Features of AUP Services:

• Tailored Scope
  • Design and execute custom procedures aligned with the unique objectives of clients and stakeholders.
• Targeted Analysis
  • Conduct in-depth reviews of specific financial, operational, or compliance areas to provide focused insights.
• Collaborative Approach
  • Work closely with clients to define precise procedures, ensuring alignment with their goals and regulatory expectations.
• Robust Methodology
  • Apply rigorous and reliable methodologies to deliver accurate and relevant findings.
• Robust Methodology
  • Apply rigorous and reliable methodologies to deliver accurate and relevant findings.
• Comprehensive Reporting
  • Provide clear, concise reports detailing key observations and actionable recommendations.
• Strategic Decision Support
  • Enable clients to make well-informed, strategic decisions with confidence and clarity.
• Enhanced Governance and Compliance
  • Strengthen compliance frameworks, operational efficiency, and transparency to build organizational resilience.

By delivering high-value insights through a structured and client-centric approach, R. Tulsian & Co. LLP ensures that our AUP services drive operational improvements, foster compliance, and support long-term success across industries.