Audit & Assurance Services
Independent, Reliable, and Value-Adding Audit Solutions in Delhi
Last Updated: February 2026
In today's complex regulatory environment, audits are no longer just a compliance exercise but a critical tool for business insight and risk management. At Neo Consulting Private Limited, our audit and assurance services go beyond the numbers to provide a true picture of your business health, identify control weaknesses, and recommend operational improvements.
Why Choose Neo Consulting for Audit Services?
- Rigorous Standards: Following Standards on Auditing (SA) issued by ICAI
- Risk-Based Approach: Focusing on areas with highest risk and impact
- Value Addition: Providing management letters with actionable insights
- Experienced Team: Led by partners with decades of audit experience
- Technology Integration: Using audit tools for efficient data analysis
Comprehensive Audit Services
1. Statutory Audit
Mandatory under the Companies Act, 2013 for all companies. We ensure:
- Verification of financial statements (Balance Sheet, P&L, Cash Flow)
- Compliance with Accounting Standards (AS) / Ind AS
- Review of internal financial controls (IFC)
- CARO 2020 reporting compliance
- True and fair view reporting to shareholders
2. Tax Audit
Mandatory under Section 44AB of Income Tax Act for businesses with turnover > ₹1 Cr (₹10 Cr if cash receipts < 5%) and professionals with receipts > ₹50 lakhs. We cover:
- Verification of books of accounts for tax compliance
- Reporting in Form 3CA/3CB and 3CD
- Checking compliance with TDS provisions, Section 40A, 43B, etc.
- Identification of disallowed expenses and tax adjustments
3. Internal Audit
Focusing on process improvement and risk mitigation:
- Review of internal control systems and procedures
- Risk assessment and management
- Operational efficiency audit
- Compliance audit for applicable laws
- Detection and prevention of fraud and revenue leakage
- Reporting directly to Audit Committee/Board
4. GST Audit
Ensuring indirect tax compliance:
- Verification of GST returns filed vs books of accounts
- Reconciliation of turnover, output tax, and ITC
- Compliance with GST rules and notifications
- Certification in GSTR-9C (Reconciliation Statement)
5. Specific Purpose Audits
Stock Audit
Physical verification of inventory for banks and management. Valuation, condition, and movement analysis.
Concurrent Audit
Continuous audit for banks and financial institutions to ensure real-time transaction compliance.
Forensic Audit
Investigative audit to detect fraud, financial crimes, or disputes. Evidence gathering for legal proceedings.
Management Audit
Review of management decisions, strategies, and efficiency. Focus on specific management objectives.
6. Certification Services
Issuance of certificates required for various purposes:
- Net worth certificates for bank loans, tenders, visa applications
- Turnover certificates for tenders and export benefits
- Utilization certificates for grants and subsidies
- Remittance certificates (Form 15CB) for foreign payments
- Share valuation certificates for investments
Our Audit Methodology
- Planning: Understanding business, identifying risks, scheduling timelines
- Process Review: Understanding and testing internal controls
- Execution: Substantive testing, verification of evidences, analytical procedures
- Reporting: Draft report discussion, management representation, final report issuance
- Follow-up: Tracking implementation of audit recommendations
Frequently Asked Questions
What is the due date for Tax Audit?
The due date for filing the Tax Audit Report (Form 3CA/3CB and 3CD) is 30th September of the assessment year (e.g., 30th Sept 2026 for FY 2025-26). The income tax return must then be filed by 31st October.
Is audit mandatory for Private Limited Companies?
Yes, statutory audit is mandatory for every Private Limited Company irrespective of its turnover or profit/loss status. An auditor must be appointed within 30 days of incorporation and then at each AGM.
What happens if I don't get my accounts audited?
Failure to get accounts audited under Section 44AB attracts a penalty of 0.5% of total sales/turnover or ₹1,50,000, whichever is lower. For companies, non-compliance with statutory audit provisions attracts heavy penalties under the Companies Act for both the company and directors.