Bookkeeping & Bank Reconciliation
Starting from
₹2,999one-time
18% GST extra on professional fees
- Entry of sales, purchases and expenses
- Bank reconciliation for one account
- Ledger and trial balance
- Up to 300 vouchers
+ 2 more in this plan
Accounting & Audit
Internal Audit
Independent review of your controls, processes and records with practical recommendations that tighten operations and reduce leakage.
- From ₹9,999 / engagement + GST
- 2-4 weeks for a typical single-location engagement, depending on scope and data availability
- Confidential handling
About Internal Audit
A statutory audit tells you whether the accounts are fairly stated. An internal audit tells you whether the business is running the way you think it is. We test real processes, find where money or control leaks, and recommend fixes you can apply in weeks, not years.
What is Internal Audit?
Internal audit is a risk-based review of operations, financial controls and compliance carried out during the year. We agree a scope with management, map the process, test a sample of transactions, interview process owners and report observations ranked by risk, along with recommendations and management responses.
Typical areas are procure-to-pay, order-to-cash, payroll, inventory, fixed assets, expense claims, cash handling, statutory compliance and IT access. For companies where section 138 applies, the internal audit report supports the Board's responsibility for internal financial controls.
Who needs this service?
You may need it if any of these describe you.
- Companies where internal audit is mandatory under section 138 and Rule 13
- Owner-managed businesses growing beyond what the owner can personally supervise
- Multi-branch retail, distribution and franchise businesses
- Businesses with inventory shrinkage, cash leakage or approval delays
- Firms preparing for investor, lender or acquisition due diligence
Benefits
Find leakage early
Discover duplicate payments, unauthorised discounts, slow collections and inventory gaps.
Control improvements
Specific recommendations on approvals, segregation of duties and documentation.
Compliance check
Statutory payments, filings and registers are reviewed for gaps and delays.
Board-level reporting
A clear report suitable for Board or owner review and for the statutory auditor.
Follow-up cycle
Observations are tracked to closure in later reviews.
Types of Internal Audit
Financial controls review
Tests approvals, reconciliations and cut-off as part of the internal financial controls framework.
Process and operational audit
Purchase, sales, inventory, payroll and expense processes, tested at transaction level.
Compliance audit
GST, TDS, PF, ESIC, professional tax and ROC compliance review.
Branch or outlet audit
Cash, stock and process checks at stores, depots and branches.
Special or limited-scope review
A focused review such as expense claims, vendor master or specific complaint.
Eligibility requirements
- Any business can opt for an internal audit voluntarily.
- Under section 138 and Rule 13 of the Companies (Accounts) Rules 2014, internal audit is mandatory for listed companies and for certain unlisted public and private companies crossing specified thresholds of paid-up capital, turnover, borrowings or deposits.
- An internal auditor under the Companies Act may be a chartered accountant, cost accountant or other professional appointed by the Board; we will confirm the arrangement for your case.
Documents required
Keep these ready to avoid delays. Send scans or photos over WhatsApp - never share passwords or OTPs.
Business overview
- Organisation chart and process list
- Policies, SOPs and delegation of authority
- Previous audit reports and management letters
Transaction data
- Ledgers, trial balance and sub-ledgers for the audit period
- Sample vouchers, invoices, contracts and bank statements
- Payroll registers and statutory challans
- Inventory records and physical count sheets
Access
- Read access to accounting software or exports
- Nominated process owners for interviews
Step-by-step process
- Scoping meetingWe agree objectives, period, locations, sample sizes and timelines.
- Process understandingWalkthroughs and flowcharts document how transactions actually move.
- Risk and control matrixWe list key risks and the controls expected to address them.
- TestingSamples are tested for authorisation, accuracy, timeliness and documentation.
- Draft reportObservations with risk rating, root cause and recommendation are discussed with management.
- Final report and follow-upThe final report is issued with management responses and an action tracker.
Applicable rules & regulations
Plain-English notes. Always verify against the official notification.
| Section / rule / form | What it means |
|---|---|
| Section 138 Companies Act 2013 | Requires certain classes of companies to appoint an internal auditor, who reports to the Board or Audit Committee. |
| Rule 13 Companies (Accounts) Rules 2014 | Specifies the classes of companies that must have internal audit, by paid-up capital, turnover, borrowings and deposits. |
| Section 143(3)(i) | The statutory auditor reports on whether adequate internal financial controls exist and operate effectively. |
| ICAI Standards on Internal Audit | Issued by the Institute of Chartered Accountants of India to guide the planning, execution and reporting of internal audit. |
Important due dates
Statutory dates can be extended by notification - check the official portal before relying on them.
| Activity | Due date |
|---|---|
| Internal audit reports | As agreed in the engagement - quarterly, half-yearly or annual cycle |
| Reporting to Board / Audit Committee | As decided by the Board or applicable rules |
Transparent pricing
Plans from our Accounting Services Pricing list. Government charges and GST are shown separately.
Financial Statements
Starting from
₹4,999/ year
18% GST extra on professional fees
- Profit and loss account and balance sheet
- Depreciation schedule
- Closing stock and adjusting entries
- Notes to accounts (basic)
+ 2 more in this plan
Tax Audit (Section 44AB)
Starting from
₹7,999/ year
18% GST extra on professional fees
- Tax audit report in Form 3CB-3CD / 3CA-3CD
- Examination of books and clause-wise disclosures
- TDS and GST compliance cross-check
- Reconciliation with financial statements
+ 2 more in this plan
Statutory Audit
Starting from
₹14,999/ year
18% GST extra on professional fees
- Audit under the Companies Act / LLP Act as applicable
- Audit planning, vouching and verification
- Independent auditor report and CARO review
- Board / partner observations letter
+ 2 more in this plan
Package comparison
| Feature | Bookkeeping & Bank Reconciliation | Financial Statements | Tax Audit (Section 44AB) | Statutory Audit |
|---|---|---|---|---|
| Bookkeeping entries | Up to 300 | |||
| Bank reconciliation | ||||
| P&L and balance sheet | Reviewed | Audited | ||
| Audit report | Tax audit | Statutory | ||
| Depreciation schedule | ||||
| Portal filing of report | Support | |||
| Management letter |
Government fees & professional fees
We never mark up government payments.
Professional fee
From ₹9,999 per engagement for a limited-scope review of a small business. Larger scope, multiple locations and repeat quarterly audits are quoted after scoping.
Government charges
No government fee applies for internal audit.
Other costs
Travel and out-of-pocket expenses for outstation branch audits are charged at actuals after approval.
Internal audit reports are advisory in nature. Appointment of an internal auditor under section 138 must be made by the Board and be suitably qualified.
Deliverables
What you receive from us.
- Audit plan and scope note
- Risk and control matrix
- Findings report with risk rating
- Recommendations with management responses
- Action tracker for follow-up
Turnaround time
2-4 weeks for a typical single-location engagement, depending on scope and data availabilityTimelines assume complete, correct documents and, where applicable, timely action by the government portal or authority.
Why choose SK Wealth Tax Advisor?
- Experienced Professional SupportEvery file is handled by a person who knows the rules, not a call centre script.
- Transparent & Affordable PricingProfessional fees, government charges and GST are shown separately.
- Timely Filing & ComplianceWe track due dates for you and remind you before they arrive.
- Complete Business SolutionsRegistration, accounting, tax, ROC and licences under one roof.
- Digital & Paperless ServicesShare documents securely online. No office visit needed.
- Personalized Tax PlanningAdvice based on your income, goals and the regime that suits you.
Internal Audit - FAQs
Is internal audit the same as statutory audit?
No. A statutory audit is a legal audit of financial statements by an independent auditor. Internal audit is management's tool for reviewing controls and operations during the year.
Is my private company required to have an internal audit?
Under Rule 13, a private company must have it if its turnover in the preceding year was ₹200 crore or more, or outstanding borrowings from banks or financial institutions at any time were ₹100 crore or more. Please verify against the current rule.
Can the same firm do both statutory and internal audit?
Companies law restricts a statutory auditor from rendering certain services including internal audit to the same company. We will keep the roles separate.
What will I get at the end?
A report listing each finding, how serious it is, what causes it and what to change, plus a tracker to check closure later.
Will my staff be disrupted?
We schedule interviews and sample requests to minimise disruption and discuss findings with process owners before issuing the report.
Get started with Internal Audit
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Contact us
- +91 98765 43210
- Chat on WhatsApp
- info@skwealthtax.com
- A-123, Sector-18, Rohini, New Delhi – 110085
- Mon – Sat: 10:00 AM – 7:00 PM