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Neeraj Bhagat & Co. is fully aligned with the latest global and Indian developments:

• Revised Global Internal Audit Standards under the new IPPF are now effective from January 2025
• Increasing focus on risk-based audits, corporate governance, fraud prevention, and technology-driven audit procedures
• Expanding scope of assurance beyond financials: system audits, compliance audits, sustainability reporting, cybersecurity checks, etc.
• More emphasis on internal controls, especially for digitally transforming enterprises

We continuously upgrade our audit methodology to stay ahead of regulatory and industry changes.

A quality audit helps your organization:

✔ Strengthen internal controls and eliminate risks
✔ Improve financial accuracy and compliance
✔ Enhance operational efficiency and cost effectiveness
✔ Build stakeholder confidence and corporate reputation
✔ Achieve long-term, sustainable business growth

At Neeraj Bhagat & Co., an audit is not a fault-finding exercise — it’s a partnership to help you strengthen business foundations, improve controls, and drive performance.

We believe that audits today are not just about the past — they support a more secure and successful future.

1️. What is the purpose of an audit?

An audit provides an independent assessment of a company’s financial records, internal controls, and compliance status. It enhances credibility and helps detect errors, fraud, and operational inefficiencies.

2️. Why is auditing important for businesses in India?

Auditing ensures statutory compliance under the Companies Act, Income Tax Act, GST regulations, and other laws. It also strengthens trust with investors, bankers, and stakeholders while improving financial discipline.

3️. What types of audits does Neeraj Bhagat & Co. offer?

We offer statutory audit, internal audit, management & efficiency audit, due diligence, forensic audit, and systems & control review customized to business requirements.

4️. Who requires a statutory audit?

All companies registered in India are required to undergo statutory audits each financial year. Certain partnerships, LLPs, trusts, NGOs, and other entities may also require audits depending on turnover, capital, or regulatory guidelines.

5️. How does an internal audit help my organization?

Internal audits help identify weaknesses in processes, internal controls, cash management, procurement, cybersecurity, and risk management — enabling better decision-making and operational improvements.

6️. How frequently should audits be conducted?

Statutory audits are annual, while internal or concurrent audits are usually quarterly or monthly depending on business size, nature, and risk exposure.

7️. How long does an audit typically take?

The duration depends on the scale and complexity of operations, accounting hygiene, and documentation readiness. Our team ensures timely completion with minimal disruption to day-to-day business.

8️. Will an audit reveal fraud?

While the primary goal is not fraud detection, our risk-based audit approach helps uncover suspicious activities, irregular transactions, or internal control failures that could lead to fraud.

9️. What documents are required for an audit?

Trial balance, financial statements, accounting entries, invoices, tax records, bank statements, ledgers, agreements, inventory records, and internal control policies are typically reviewed.

10. How is Neeraj Bhagat & Co. different from other audit firms?

With over 26 years of experience, industry-specific expertise, and a consultative approach, we provide not just compliance audits but actionable insights to improve business efficiency and governance.

11. Do you also assist in implementing internal controls?

Yes. Along with audit review, we help design, strengthen, and monitor internal control systems for long-term business sustainability.

12. How can I book an audit consultation with Neeraj Bhagat & Co.?

You can contact us through our website or directly reach our team to schedule a consultation for your audit requirements.