How does Y K Chaturvedi & Co. conduct stock audits for commercial banks?

Our team carries out physical inventory verification, evaluates stock ageing, examines debtor ageing, and recalculates Drawing Power (DP) as per sanction terms, ensuring compliance with banking consortium requirements.

Do you undertake audits of Co-operative Housing Societies in Maharashtra?

Yes, we audit Co-operative Housing Societies and Trusts across Vasai and Palghar district in strict compliance with the Maharashtra Co-operative Societies Act and applicable accounting standards.

Practice Area 01

Audit & Assurance

Name: Y K Chaturvedi & Co., Chartered Accountants
Telephone: +91 93221 65502
Price range: $$

Rigorous statutory compliance and independent financial assurance tailored for corporates, institutions, and banks.

Partner-Led Delivery

Overview & Scope of Practice

Statutory, tax, internal, stock, proprietary and institutional audits delivering verified financial credibility under direct partner oversight.

Professional Audit & Assurance Practice

Statutory, tax, internal, stock, proprietary and institutional audits delivering verified financial credibility under direct partner oversight.

At Y K Chaturvedi & Co., our audit & assurance practice delivers rigorous statutory compliance, end-to-end documentation accuracy, and direct partner supervision to protect your business against non-compliance liabilities.

Strategic Business Benefits

Statutory Adherence & Penalty Mitigation: Strict compliance with Indian Accounting Standards (Ind AS/AS), Companies Act guidelines, and Income-tax stipulations preventing non-compliance exposure.
Bank & Lender Credibility: Thorough verification of stock, debtors, and drawing power strengthens borrowing capacity and credit appraisal with financial institutions.
Internal Control Fortification: Uncover internal operational bottlenecks, revenue leakages, and procedural vulnerabilities through risk-based internal audits.
Direct Partner Supervision: Assignments are directly led by experienced partners ensuring deep scrutiny and mature business discussions with management.

Our Step-by-Step Execution Process

Step 01 - Audit Planning & Scope Definition: Understanding the entity's business model, risk profile, internal controls, and framing the audit calendar.
Step 02 - Fieldwork & Substantive Testing: Verifying ledgers, vouchers, asset registers, compliance records, and executing analytical review procedures.
Step 03 - Issue Resolution & Review: Discussion of draft audit observations with key management personnel and remediation of discrepancies.
Step 04 - Reporting & Certification: Issuance of independent audit report, statutory disclosures, and submission to regulatory bodies.

At Y K Chaturvedi & Co., assignments in audit & assurance are managed with strict statutory compliance, digital accuracy, and direct partner supervision to insulate your organization from regulatory non-compliance, litigation risks, and penalties.

Scope of Services Included7 Specialized Areas

Statutory Audit under the Companies Act, 2013

Tax Audit under the Income-tax law (Section 44AB)

Internal Audit and Management Audit

Stock Audit and Receivables / Drawing Power Audit for banks

GST Audit and GST reconciliation (GSTR-9C)

Concurrent Audit and Proprietary Audit

Audit of Trusts, Societies, Co-operative Housing Societies and Educational Institutions

Key Strategic Benefits & Value

Statutory Adherence & Penalty Mitigation

Strict compliance with Indian Accounting Standards (Ind AS/AS), Companies Act guidelines, and Income-tax stipulations preventing non-compliance exposure.

Bank & Lender Credibility

Thorough verification of stock, debtors, and drawing power strengthens borrowing capacity and credit appraisal with financial institutions.

Internal Control Fortification

Uncover internal operational bottlenecks, revenue leakages, and procedural vulnerabilities through risk-based internal audits.

Direct Partner Supervision

Assignments are directly led by experienced partners ensuring deep scrutiny and mature business discussions with management.

Our Structured Execution Methodology

Phase 01

Audit Planning & Scope Definition

Understanding the entity's business model, risk profile, internal controls, and framing the audit calendar.

Phase 02

Fieldwork & Substantive Testing

Verifying ledgers, vouchers, asset registers, compliance records, and executing analytical review procedures.

Phase 03

Issue Resolution & Review

Discussion of draft audit observations with key management personnel and remediation of discrepancies.

Phase 04

Reporting & Certification

Issuance of independent audit report, statutory disclosures, and submission to regulatory bodies.

Frequently Asked Questions: Audit & Assurance

A Tax Audit under Section 44AB is mandatory for businesses whose total turnover exceeds ₹1 Crore (or ₹10 Crores if cash receipts and payments do not exceed 5% of aggregate transactions), and for professionals whose gross receipts exceed ₹50 Lakhs (or ₹75 Lakhs under presumptive conditions).

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