Overview
Audit Assistance – Complete Overview
What is Audit Assistance?
Audit Assistance involves professional support provided to businesses during statutory, internal, and tax audits. It includes preparing financial statements, reconciling accounts, organizing documents, and guiding management to ensure compliance with accounting standards, tax laws, and corporate governance requirements.
Eligibility for Audit Assistance Services
Audit Assistance services are relevant for all entities required to undergo audits, including Private Limited Companies, LLPs, partnership firms, proprietorships, and non-profit organizations. It is especially critical for businesses undergoing statutory audits under the Companies Act, Income Tax Act, GST audits, or internal financial audits.
Importance and Benefits of Audit Assistance
Professional audit assistance ensures:
Accurate and error-free financial reporting
Compliance with statutory and regulatory requirements
Smooth interaction with auditors
Avoidance of penalties, notices, or legal issues
Proper documentation and record-keeping
Enhanced transparency and credibility with stakeholders
Process of Audit Assistance
The process begins with reviewing accounting records, financial statements, and statutory documents. Our experts reconcile accounts, identify discrepancies, and assist in preparing schedules and reports required by auditors. We coordinate with auditors, provide clarifications, and ensure all documentation is complete, accurate, and submitted on time.
Documents Required for Audit Assistance
Documents typically required include:
Financial statements (P&L, balance sheet)
Bank statements and reconciliations
Accounting books and ledgers
Tax filings (TDS, GST, Income Tax)
Payroll records and employee details
Statutory registers and compliance records
How NYAYAPATH LEGAL LLP Can Help You
NYAYAPATH LEGAL LLP offers end-to-end Audit Assistance services, providing guidance, document preparation, and support throughout the audit process. Our team ensures compliance with all statutory requirements, helps reconcile accounts, prepares schedules, and coordinates with auditors to make the audit process seamless and stress-free. We help businesses minimize errors, meet deadlines, and maintain credibility with regulators and stakeholders.
