services

 At RTA, we offer the following Audit Assurance Services:

1. Statutory Audits in accordance with the Companies Act, 2013
2. Income Tax Audits under the Income Tax Act, 1961
3. Audits related to GST (Goods & Service Tax)
4. Transfer Pricing Audits (in specific cases)

For the success and growth of organizations, they need to hire the best Auditing and Assurance Services. RTA, one of the leading Audit firms in Pune, has the best-advanced techniques and creative approach towards better administrative and financial controls. Our team of experts will suggest the best plans to the organization that will help in making the overall operation more efficient and the financial structure strong. The Audit and Assurance services will surely add efficiency and profitability to their client's organization by providing them with independent credibility to the financial statements, expedient solutions, and professional advice to manage and improve the overall system performance.

Earlier, the financial statement audit was not that important as they are now. Nowadays, more observation is provided to the Company's financial statements. Investors from the market give great importance to the clear evidence of the internal records, which can only be maintained if the organization hires the audit services. There are internal and external auditors, corporate management committees, and audit committees that play a very important role in getting the trust of the investors. All of them need to execute their respective responsibilities well, keeping in mind the legal and high expectations of the investors. To meet the investors' expectations well, the organization needs to provide complete and accurate information regarding the Company's financial statement. The team of experts at RTA in Pune will come up with the parameters and will conduct the audit in the Company well.

Once the audit process is conducted well in the organization, it can provide important information and will state that all the finances are fairly represented. RTA's viewpoint on the audit process is that it is a process for the clients to learn more about their business. It will help in improving the communication with the investors, partners, and even banks. The audit service provided by RTA will surely be more than the expectation of their clients. We not only provide financial information but also provide sound recommendations.

RTA's Approach Towards Audit and Assurance Services:

1. Strategic Planning and Compliance:RTA focuses on meticulous planning and the development of a clear audit program aligned with statutory requirements. This ensures that the audit process adheres to regulatory standards and guidelines.
2. Comprehensive Evaluation:The team assists in evaluating the strengths and weaknesses of audit areas, providing a thorough analysis of efficiency, effectiveness, and control status. This holistic approach ensures a comprehensive understanding of the organization's operational landscape.
3. Transparent Reporting:RTA ensures that all findings, conclusions, and recommendations are transparently communicated to the management. These insights empower decision-makers to make informed choices regarding the efficiency of their operations.
4. Management Action Guidance:The audit team plays a crucial role in appraising management actions related to reporting techniques and follow-ups. This guidance facilitates continuous improvement and adaptability to industry best practices.
5. Ethical Standards Adherence:RTA's audit experts strictly adhere to ethical norms and professional standards. This commitment ensures that the quality of the audit work remains uncompromised, instilling confidence in the reliability and integrity of the audit process.

RTA's approach reflects a commitment to thorough planning, comprehensive evaluation, transparent reporting, and adherence to ethical standards, ultimately contributing to the enhancement of organizational efficiency and control.

RTA Experience in Audit and Assurance Services:

RTA stands as a prominent Company Auditor in Pune, boasting over two decades of experience in the field. This extensive experience has been instrumental in reshaping industry trends and contributing to the lasting success of numerous clients. RTA's audit services are underpinned by principles of independence, objectivity, integrity, and strict adherence to all professional standards, rules, and regulations. The primary goal of every audit conducted by RTA is to furnish the company with an accurate and unbiased representation of its financial standing.

RTA excels in providing top-notch audit services to organizations necessitating audits for regulatory and statutory compliance, particularly related to annual and periodic financial reporting. The audit services rendered by RTA encompass comprehensive consideration of all relevant accounting principles, reporting requirements, prospective auditing, and guidance.

Notably, RTA serves a diverse clientele, catering to the needs of both multinational corporations and small to medium-sized enterprises. This broad spectrum of clients attests to RTA's ability to adapt its services to meet the distinct requirements of various business scales and structures. The wealth of experience accumulated by RTA positions it as a trusted partner for companies seeking reliable and insightful audit and assurance services in Pune.

RTA can assist you in:

1. Offering sound advice on controls and pinpointing system weaknesses for enhanced operational efficiency.
2. Ensuring compliance with relevant regulations to mitigate legal risks.
3. Providing specialized accounting treatments tailored to navigate the intricacies of the company's complex transactions.
4. Implementing robust monitoring mechanisms for prospective accounting adjustments in response to regulatory changes.
5. Conducting a meticulous review of externally reported information to uphold transparency and accuracy.
6. Generating comprehensive accountant's reports that offer a clear and insightful overview of the financial landscape.

RTA's expertise extends across these key areas, ensuring that your organization receives adept guidance and support in maintaining financial integrity and compliance.

Statutory Audit under Companies Act, 2013:

Under the Companies Act, 2013, every registered company in India is obligated to prepare financial statements annually, concluding on the 31st of March. These financial statements must accurately represent the company's state of affairs and adhere to accounting standards specified by the central government. The format for preparing such financial statements is prescribed in Schedule VI, tailored to the specific type of company.

The scope of financial statements encompasses the following components:

1. Balance Sheet:A snapshot of the company's financial position as of the end of the financial year.
2. Profit and Loss Account:For companies engaged in profit-generating activities, a statement detailing income and expenses for the financial year. In the case of non-profit activities, an Income & Expenditure Account is prepared.
3. Cash Flow Statement:A comprehensive report outlining the cash movements within the financial year.
4. Statement for Changes in Equity:If applicable, a document detailing alterations in equity during the financial year.
5. Explanatory Note:An accompanying note providing insights into the accounting policies and assumptions adopted by the company.

Adhering to these requirements ensures that the statutory audit under the Companies Act, 2013, provides a thorough examination of the company's financial statements, promoting transparency and compliance with regulatory standards.

Tax Audit as per the Income Tax Act, 1961:

Mandatory under the Income Tax Act, a Tax Audit is required when the annual gross turnover or receipts of the assessee surpass a specified limit. This audit is carried out in accordance with Section 44AB of the Income Tax Act and is performed by a Chartered Accountant.

GST (Goods & Service Tax) Audit under the GST Act:

According to the GST Act, every registered entity is required to undergo a GST audit conducted by a Chartered Accountant or Cost Accountant if its aggregate turnover during the fiscal year exceeds INR 2 Crores from the sale of goods or services.

Key points regarding GST Audit under the GST Act include:

1. Calculation of Turnover:The turnover calculation is PAN (Permanent Account Number) based, incorporating all sales of goods or services to determine if it exceeds the INR 2 Crores limit.
2. Inclusions in Aggregate Turnover:The aggregate turnover comprises the value of inter-state taxable supply, intra-state taxable supply, exempt supplies, export supplies, job work supplies on a principal-to-principal basis, zero-rated supplies, and supplies to agents or job work on behalf of the principal.
3. Exclusions from Aggregate Turnover:Exclusions from the aggregate turnover include taxable supply subject to reverse charge, all taxes and cess paid under GST, and goods supplied and received back from job work.
4. Audit for Multiple Branches:When determining the INR 2 Crores limit, the turnover of all branches is considered. If the cumulative turnover exceeds the limit, each branch is liable for GST audit. Organizations can appoint a single auditor for all branches or opt for separate auditors for each branch.
5. Due Date and Penalty:The due date for GST audit and annual return is specified as December 31 of the subsequent fiscal year. Failure to comply attracts a general penalty of Rs. 25,000, as no specific penalty is prescribed by the GST Act for late filing of GSTR 9C.