Compliance Audit Service

Last Updated – 27th October 2023   5 Minutes Read

Call Us : 9845507403 / 7829560007 , +080-42042945/46

Email us : [email protected]

We offer Compliance Audit services to all types of Companies in the Manufacturing, IT, Real Estate and Services Sectors.

As part of Compliance Audit, we undertake a complete review of all tax and statutory compliance related to income tax, indirect taxes such as GST, central excise, customs, service tax and VAT, profession tax, entry tax and other applicable levies and taxes and provides a comprehensive report to the clients on the status of the compliance and suggests the corrective action.

Apart from compliance with the substantive law, we also look at the procedural aspects including filing of the periodical returns, assessments, re-assessments, audits from the Departments, appeals, etc. We also look into the availment of and utilization of the cenvat and input tax credits by the Clients.

Apart from pointing out the non-compliance, we also provide solutions aimed at minimizing the risks arising out of non-compliance. The Client could immensely benefit out of this study… he could change his systems, if there is non-compliance and could  re-assure himself that his systems are working well, if there are no major non-compliances.

Apart from ensuring compliance, corporates can also avail of the benefits and advantages that  are available under the various schemes of the Central and State Governments and its agencies.

Compliance Audit Services:

Every business with a strict regulatory management in place should attach an utmost importance to compliance audit services. 

• Compliance auditing is a process that reviews and checks whether a business is performing in accordance with the correct regulations.
• Whether it is in terms of income tax, GST, service tax, central excise or other financial rules and regulations, a foolproof compliance auditing renders robust business relationships through lawful enforcement. 

Over the years, S3 Solutions has been a pioneer in offering compliance auditing in relation to Indian audit and accounts services for several Indian businesses and helping them prosper and grow objectively to beat their nearest industry rivals.

Why Do You Need Premium Compliance Audit Services?

Compliance management in India is a complex affair.

• Every mid-level to large-sized business in India has to deal with hundreds of acts and thousands of compliances regarding financial and tax regulations. 
• These regulations come in the form of licenses, registrations, remittances, challans, payments, consent orders, permissions, renewals and more. Since businesses are dynamic and are constantly changing, the applicability of acts and compliances are constantly changing.

All these changes affect the compliance obligations of an organization. 

In addition, there have been regulatory restrictions brought into place by the Government of India and SEBI.

• According to the Companies Act – 2013, there can be criminal proceedings and jail terms for Directors/KMPs if they do not implement a system that is in adherence with all applicable and evolving compliance measures to ensure seamless operation of the processes. 
• SEBI alongside has a Listing Regulation that requires the board of the company in concern to periodically review the compliance report reviewing all applicable laws and regulatory measures to identify and eliminate non-compliance.

What are the Key Challenges Pertaining to Compliance?

The key challenges regarding compliance that organizations are facing constantly can be listed as follows.

 

• Complexities:

There are several acts and compliance regulations for the organizations and their vendors. This creates several complications and might hinder the normal flow of operations. 

 

• Resources:

Organizations as well as the respective industries lack dedicated resources regarding planning, management and execution. Scarcity of such resources leads to organizations facing compliance issues now and then.

 

• Expertise:

A lot of expertise is needed to handle the nuanced details and intricacies of various applicable compliances. Without such expertise, one might land the organization amidst challenging situations. 

 

• Fluidity:

The frequency of regulatory changes and compliance regulations causes an increased pressure on organizations to keep up with them. 

As a result, Indian organizations are struggling to provide assurance regarding compliance issues of their operations while working in an ad-hoc, people and paper-based environment. There is an abject need to plan, manage, measure and report compliance assurance. 

How is S3 Solutions Building Accountability in Relation to Audit Services?

S3 Solutions understands the pain of organizations when it comes to compliance audit services. Collaborating with multiple organizations belonging to different industries and sectors, we have developed a profound knowledge and understanding of the compliance framework. 

As a result, we can help organizations monitor and implement their operations in accordance with the compliance programs in order to institutionalize accountability, transparency and timelines.

• We have a superb team comprising young and talented professionals who bring the ideal tools, templates, processes and access to the best-in-class knowledge repository to your forefront to help you deal with compliance issues successfully.
• When it comes to smart contract audit services, S3 Solutions has effectively developed a whole-company, whole-industry approach.
• Our in-depth compliance practices correlate company data with our profound knowledge and understanding of financial issues and experiences.
• We talk extensively with clients who represent different industry verticals.
• We inquire about risk exposure, pinpoint weaknesses, and also look for patterns of abuse of regulatory measures.

If the compliance audit services uncover suspicious activity, we are ready to help you deal with the subsequent documentation, legal preparation and support in the courtroom.

Our in-depth Indian audit and accounts service asks the following relevant questions –

• Does the company possess the suitable licenses, permissions, consent orders and registrations? Are these regulatory documents renewed periodically?
• Is the company or the entity complying with the relevant acts and compliance measures?
• Are all the statutory documents like returns, registers, challans and others prepared and filed accurately?

At S3 Solutions, we possess the deep knowledge and critical thinking to ensure that the company processes are following every statutory requirement and complying with the law of the land. 

Our premium audit services provides periodic assessment under the following categories –

• Qualitative review of statutory documents 
• Applicability assessment and gap reporting.

The independent assessment conducted by our team of compliance auditors helps organizations avoid missed filings, delays, data inconsistencies, non-maintenance of critical documents, and others. 

As a result, regulatory prosecutions, legal notices, penalties and fines are substantially reduced. 

Some of the Services that S3 Solutions is Known for:

At S3 Solutions, we regularly handle compliance auditing services by tapping into the expertise of our team of dynamic professionals consisting of –

• Certified internal auditor (CIA)
• Certified public auditor (CPA)
• Certified in financial forensics (CFF)
• Accredited senior appraiser (ASA)
• Certified fraud examiner (CFE)
• Accredited in business valuation (ABV)

There are several areas in Indian audit and accounts service that we have been operating with finesse for some time, and helping multiple organizations from sectors like manufacturing, IT, real estates and services to leverage our expertise and gain a solid ground in their industries. 

• Our compliance audit services include a complete qualitative review of all tax and statutory compliance related to direct and indirect taxes and levies, including but not limited to, income tax, GST, service tax and VAT, customs duty, central excise, entry tax, profession tax, etc. After our qualitative review, we prepare an in-depth and holistic report for our clients on the status of the compliance and suggest the corrective action. 
• Apart from helping organizations deal with issues related to compliance with substantive laws, we help them in dealing with the procedural aspects. These include the periodic filing of returns, assessments and reassessments, handling appeals and audits from higher regulatory departments and functionaries of the Indian judiciary, etc. 
• The professionals at S3 Solutions are well-versed in helping companies deal with the availability of and utilization of cenvat and input tax credits by the clients. 
• Although we pinpoint areas related to non-compliance and identify shortfalls on the parts of companies while dealing with compliance issues, we are also quite adept at providing solutions to minimize such risks. Our studies benefit the clients in changing their systems if there is non-compliance and provide him reassurance that his operations are performing impeccably if there are no identifiable issues of non-compliance. 
• Apart from ensuring compliance, we help corporates and clients to take the benefits that are available under the several schemes and policies laid out by the Central and State Governments and their functionaries.

Reviews about our Compliance Audit Services – Last Updated 27th October 2023

Client Name: Arjun Singhania – ⭐⭐⭐⭐⭐ (5/5 stars)

27th October 2023

S3Solutions’ compliance audit services in Bangalore are nothing short of outstanding. They conducted a comprehensive audit of our organization, identified potential compliance issues, and provided effective solutions. Their dedication to ensuring our business operates within the legal framework is commendable. I highly recommend S3Solutions for compliance auditing.

Client Name: Manaswini Maharana – ⭐⭐⭐⭐⭐ (5/5 stars)

27th October 2023

S3Solutions is the go-to partner for compliance audit services in Bangalore. Their experts left no stone unturned in ensuring that our business adhered to all relevant laws and regulations. Their detailed audit report and action plan have been instrumental in improving our compliance. I’m extremely pleased with their services.

Client Name: Rajesh Verma – ⭐⭐⭐⭐⭐ (5/5 stars)

27th October 2023

S3Solutions played a crucial role in ensuring our company’s compliance with various regulations in Bangalore. Their compliance audit was thorough, and the recommendations they provided were invaluable. Their team was professional, responsive, and guided us through the entire process seamlessly. I highly recommend S3Solutions for compliance auditing.

Client Name: Priya Sharma – ⭐⭐⭐⭐⭐ (5/5 stars)

27th October 2023

S3Solutions provided exceptional compliance audit services for our business in Bangalore. Their team was meticulous in reviewing our processes and ensuring we met all legal standards. Their comprehensive report and practical suggestions have helped us enhance our compliance. I’m extremely satisfied with their expertise and professionalism.

Client Name: Ashwin Kumar – ⭐⭐⭐⭐⭐ (5/5 stars)

27th October 2023

I engaged S3Solutions for a compliance audit in Bangalore, and I couldn’t be happier with their services. They exhibited a deep understanding of regulatory requirements and conducted a thorough audit of our operations. Their recommendations for improvement were invaluable. I highly recommend S3Solutions for their top-notch compliance audit services.

Client Name: Kritika Mani – ⭐⭐⭐⭐⭐ (5/5 stars)

6th October 2023

S3solutions’ Compliance Audit Services in Bangalore are exceptional! Their team’s attention to detail and commitment to ensuring our business remains compliant with regulations are remarkable. They provided us with comprehensive reports and actionable recommendations. Highly recommended!

Client Name: Payal Ghosh – ⭐⭐⭐⭐⭐ (5/5 stars)

6th October 2023

We engaged S3solutions for their Compliance Audit Services, and they did a commendable job. The only reason for not giving five stars is that there were some minor delays in communication. Nonetheless, their expertise in compliance matters and their attention to detail are impressive.

Client Name: Shiv Patel – ⭐⭐⭐⭐⭐ (5/5 stars)

6th October 2023

S3solutions’ Compliance Audit Services in Bangalore have been instrumental in keeping our business operations in check. Their team is knowledgeable, responsive, and dedicated to ensuring all compliance requirements are met. I highly recommend their services.

Client Name: Santwona Pati – ⭐⭐⭐⭐⭐ (5/5 stars)

6th October 2023

While S3solutions’ Compliance Audit Services did provide us with a good audit, we found their pricing to be somewhat on the higher side for our small business. However, they do deliver quality service, and their expertise in compliance is undeniable.

Client Name: Neha Mehta – ⭐⭐⭐⭐⭐ (5/5 stars)

6th October 2023

I can’t speak highly enough of S3solutions’ Compliance Audit Services in Bangalore. Their team’s attention to detail and efficiency in conducting our audit were outstanding. They’ve helped us identify potential compliance risks and have been instrumental in strengthening our internal controls. I highly recommend their services.

Client Name: Priya Sharma – ⭐⭐⭐⭐⭐ (5/5 stars)

18th September 2023

Compliance Audit Services in Bangalore is a top-notch firm. Their team is incredibly knowledgeable about regulatory requirements and conducted a thorough audit of our company. They identified areas of improvement and provided practical solutions. Their services have been instrumental in ensuring our business remains compliant. Highly recommended!

Client Name: Rajesh Patel – ⭐⭐⭐⭐⭐ (5/5 stars)

18th September 2023

We engaged Compliance Audit Services for an annual audit, and they did a commendable job. The only reason I’m not giving five stars is that the audit process took a bit longer than expected. However, their attention to detail and compliance expertise are undeniable. We will likely use their services again.

Client Name: Anil Verma – ⭐⭐⭐⭐⭐ (5/5 stars)

18th September 2023

Outstanding service! Compliance Audit Services in Bangalore helped us navigate complex regulatory changes seamlessly. Their auditors were professional and efficient. They not only ensured our compliance but also offered valuable insights to optimize our processes. I’m thoroughly impressed with their expertise.

Client Name: Deepika Rao – ⭐⭐⭐⭐⭐ (5/5 stars)

18th September 2023

While Compliance Audit Services provided a reasonably good audit, I found their pricing to be somewhat high for our small business. The quality of their work is good, but cost-effectiveness is something they could improve upon. However, if budget isn’t a primary concern, they’re a solid choice.

Client Name: Karthik Menon – ⭐⭐⭐⭐⭐ (5/5 stars)

18th September 2023

I can’t speak highly enough of Compliance Audit Services in Bangalore. Their team conducted a comprehensive audit for our organization, identifying potential compliance risks and helping us mitigate them effectively. Their expertise saved us from potential legal issues. If compliance is a concern for your business, these guys are the best in town.

Client Name: Rahul Kapoor – ⭐⭐⭐⭐⭐ (5/5 stars)

5th September 2023

S3solutions’ Audit Services have been a game-changer for our company. Their financial strategies and guidance have contributed significantly to our growth. Highly recommend their expertise!

Client Name: Priya Verma – ⭐⭐⭐⭐⭐ (5/5 stars)

5th September 2023

S3solutions’ Audit Service team has been instrumental in improving our financial operations. Their insights and recommendations have been invaluable. We’re extremely satisfied with their services.

Client Name: Rajesh Malhotra – ⭐⭐⭐⭐⭐ (5/5 stars)

5th September 2023

We’ve been partnering with S3solutions’ Audit Services for over a year now, and their financial expertise has made a significant difference. They’ve helped us navigate financial challenges with skill and precision.

Client Name: Sanjay Patel – ⭐⭐⭐⭐⭐ (5/5 stars)

5th September 2023

S3solutions’ Audit Services have exceeded our expectations. Their team’s dedication and financial acumen have been pivotal to our success. We highly recommend their services.

Client Name: Deepa Krishnan – ⭐⭐⭐⭐⭐ (5/5 stars)

5th September 2023

Working with S3solutions’ Audit Services has been a rewarding experience. They’ve helped us streamline our financial processes and provided sound financial planning. We have confidence in their expertise.

Client Name: Anjali Gupta – ⭐⭐⭐⭐⭐ (5/5 stars)

22nd August 2023

S3Solutions’ Audit Services have been transformative for our business. Their team’s strategic financial guidance and their ability to align financial goals with our overall vision have been invaluable. Their commitment to optimizing our financial performance and their personalized approach make them deserving of five stars.

Client Name: Rohit Patel – ⭐⭐⭐⭐⭐ (5/5 stars)

22nd August 2023

Engaging S3Solutions for Audit Services has positively impacted our financial management. Their team’s expertise in financial analysis and forecasting is commendable. I’m giving four stars due to minor delays in response times. However, their overall financial insights and support have made a substantial difference for our company.

Client Name: Priya Singh – ⭐⭐⭐⭐⭐ (5/5 stars)

22nd August 2023

S3Solutions’ Audit Services have been an essential part of our growth journey. Their team’s ability to streamline financial operations and provide strategic guidance is impressive. Their commitment to our financial success and their dedication to understanding our unique needs deserve a solid five-star rating. Highly recommended.

Client Name: Neha Sharma – ⭐⭐⭐⭐⭐ (5/5 stars)

17th August 2023

S3Solutions’ Audit Services are exceptional. Their team conducted a thorough audit of our financial statements and internal processes. Their attention to detail and in-depth analysis helped us identify areas for improvement and ensure compliance. Their professionalism and expertise deserve five stars. I highly recommend their audit services to any business.

Client Name: Rajesh Menon – ⭐⭐⭐⭐⭐ (5/5 stars)

17th August 2023

We engaged S3Solutions for audit services in Bangalore, and their team delivered a comprehensive audit report that provided valuable insights. Their expertise in identifying risks and recommending mitigation strategies was impressive. I’m giving four stars as there were a few delays in the final report’s delivery. However, their meticulous work and commitment to accuracy stand out.

Client Name: Ayesha Khan – ⭐⭐⭐⭐⭐ (5/5 stars)

17th August 2023

S3Solutions’ audit services exceeded our expectations. Their team’s thoroughness in examining our financial records and operations showcased their dedication to quality. They not only identified discrepancies but also suggested practical solutions. Their clear communication and prompt responses make them a top choice for audit services. Five stars all the way!

Client Name: Vikram Singh – ⭐⭐⭐⭐⭐ (5/5 stars)

17th August 2023

We entrusted S3Solutions with our audit requirements, and they delivered with excellence. Their team’s professionalism and expertise in understanding our industry-specific nuances were remarkable. They went above and beyond to ensure our audit was conducted smoothly and accurately. I’m thoroughly impressed and rate their services with five stars.

Client Name: Ananya Patel – ⭐⭐⭐⭐⭐ (5/5 stars)

17th August 2023

S3Solutions’ audit services provided us with a comprehensive assessment of our financial health. Their team’s attention to detail and ability to explain complex findings in a clear manner were commendable. I’m giving four stars due to a minor discrepancy in the initial audit schedule. Nevertheless, their commitment to quality and insightful recommendations deserve recognition.