Audit & Assurance

At Malav C Sheth & Co., we deliver independent audit opinion that enables the stakeholders to have a true and fair view about the financial statements in tune with the expectations of the statute. We have proficiency in Tax Audit, Statutory Audit, Internal Audit & Transfer Pricing Audit.

Tax Audit & Statutory Audit

Tax Audit is governed by Income Tax Act, 1961 & Statutory Audit is governed by Companies Act, 2013 and Companies (Audit and Auditors) Rules, 2014.

Our objective here, is proper maintenance of books of accounts and its verification to help the business entity to know about its financial position. We find out if any discrepancies exist so that the same can be corrected and accurate financial statements can be maintained.

We also lend a hand to the entities to manage their cashflows which is a major concern for everyone today. The cash flow statement paints a picture as to how a company’s operations are running, where its money comes from, and how money is being spent. Also known as the statement of cash flows, the CFS helps its creditors determine how much cash is available (referred to as liquidity) for the company to fund its operating expenses and pay down its debts. The CFS is equally important to investors because it tells them whether a company is on solid financial ground. As such, they can use the statement to make better, more informed decisions about their investments.

Internal Audit

Our audit team is a group of experts who aims at evaluating the company’s internal control framework with a focus on improving the systems and controlling in an effective manner. With core competencies, we verify the effectiveness of controls on macro as well as micro level. Depending upon the company’s size, sector, geography or maturity, our Internal Audit services are flexible and scalable that help our client to achieve their desired future state while balancing cost-effectiveness, better risk coverage and increased value.

Transfer Pricing Audit

Transfer pricing law in India applies to both domestic and international transactions which fall above a threshold in terms of deal value. It ensures that the transaction between ‘related’ parties is at a price that would be comparable if the transaction was occurring between unrelated parties. A report from an accountant in a prescribed form, duly signed and verified by the accountant must be obtained before the specified date by any person entering into an international transaction or specified domestic transaction in the previous year.

Our tax experts provide tailored services to guide you through international transactions & assist you the best methods to be applied in computing arm’s length price based on your relation with associate enterprise, transaction undertaken, value of transaction etc. We also have alliance with expert minds specifically dealing in areas like incorporating an entity abroad, dealing in international transactions, comprehension of international tax laws and their compliance & all other NRI services.