CAG, RBI & IRDA Empaneled — 12 Audit Verticals Including Society/RWA & MSME Audit
CA Alok Kumar (FCA, AICA, LLM, AML Specialist) leads a 110+ member team at S.K. Mehta & Co. (Estd. 1970), delivering audit and assurance services that go beyond compliance tick-boxes. From statutory audits to forensic investigations, society/RWA audits to MSME business audits — our approach combines deep regulatory knowledge, AI-powered analytics (AICA), legal acumen (LLM), and anti-money laundering expertise (AML) to deliver actionable insights alongside assurance.
12 distinct audit verticals — each backed by institutional empanelments, deep sectoral expertise, and actionable insights beyond mere compliance.
Companies Act 2013 — Sections 139 to 147
A statutory audit is a legally mandated examination of a company's financial records to ensure they present a true and fair view. Every company registered under the Companies Act 2013 must undergo annual audit. Our team audits private limited, public limited, Section 8, and government companies — ensuring compliance with Ind AS and CARO 2020.
Section 44AB — Income Tax Act, 1961
Tax audit under Section 44AB is mandatory when business turnover exceeds ₹1 crore (₹10 crore with ≤5% cash) or professional receipts exceed ₹50 lakh. We file Tax Audit Report in Form 3CA/3CB along with Form 3CD covering all clauses including disallowances, capital vs. revenue expenditure, inventory valuation, and TDS compliance.
CGST Act 2017 — Section 35(5), 65 & 66
While compulsory CA GST audit was removed August 2021, businesses with turnover >₹5 crore must self-certify GSTR-9C. GST authorities can still initiate departmental audits under Section 65 and special audits under Section 66. We provide end-to-end support from annual return prep to DGGI investigation defence.
RBI Empaneled — Nationalized & Cooperative Banks
As RBI Empaneled auditors, we conduct statutory branch audits, concurrent audits, and revenue audits for nationalized banks, cooperative banks, and RRBs. Engagements include LFAR preparation, NPA classification, income recognition, and compliance with RBI Master Circulars on capital adequacy and KYC/AML norms.
Fraud Detection — AML Specialist Expertise
CA Alok Kumar's unique FCA + LLM (NLU Delhi) + AML Specialist combination enables forensic investigations that are financially rigorous and legally defensible — critical when findings become evidence before courts, regulators, or investigative agencies.
IRDA Empaneled — Life & General Insurance
As an IRDA empaneled firm, we audit life, general, and reinsurance companies. Requires specialized knowledge of actuarial reserving, claim settlement, investment portfolio valuation, solvency margin computation, and Insurance Act 1938 compliance.
Section 138 — Companies Act 2013
Internal audit under Section 138 is mandatory for listed companies and unlisted public companies with turnover ≥₹200 crore or loans ≥₹100 crore. Unlike statutory audit, it's an ongoing process evaluating internal controls, risk management, operational efficiency, and governance throughout the year.
Bank Borrowers & Manufacturing Entities
Stock audits verify inventory pledged as security against working capital facilities. Our team physically verifies raw materials, WIP, finished goods at borrower's premises — reconciling with stock statements submitted to banks and verifying drawing power calculations.
CAG Empaneled — PSUs & Government Bodies
As a CAG empaneled firm, S.K. Mehta & Co. conducts audits of PSUs, government departments, autonomous bodies, and statutory corporations on behalf of the Comptroller and Auditor General of India — demanding the highest standards of independence and thoroughness.
M&A, Investment & Regulatory Assignments
Due diligence before mergers, acquisitions, investments, or joint ventures. Deep-dive into financial health, contingent liabilities, related party risks, tax exposures, and compliance gaps. Also handles NCLT-directed investigations and court-appointed audits.
Cooperative Societies Act & Societies Registration Act
Housing societies, apartment complexes, and Resident Welfare Associations (RWAs) handle significant amounts of member contributions, maintenance charges, sinking funds, and corpus funds. A professional audit ensures financial transparency, prevents mismanagement, and builds member confidence. We audit cooperative housing societies under the state Cooperative Societies Act, registered societies under the Societies Registration Act 1860, and unregistered RWAs on a voluntary basis — covering fund utilization, vendor payments, reserve fund compliance, and election-related financial disclosures.
Udyam Registered Micro, Small & Medium Enterprises
MSMEs form the backbone of India's economy but often lack the structured financial controls of larger enterprises. Our MSME Business Audit is a comprehensive 360-degree review tailored specifically for micro, small, and medium enterprises — covering statutory compliance, tax audit applicability, GST compliance, Udyam registration verification, working capital optimization, internal control strengthening, and preparation for growth milestones like bank funding, government tenders (GeM portal), or SME IPO listing. We help MSME owners move from compliance-driven accounting to growth-ready financial management.
Every engagement follows a structured, risk-based methodology aligned with ICAI Standards on Auditing (SA).
Thorough assessment of scope, industry, risk profile, and regulatory requirements. We assemble sector-specialist teams and develop risk-based audit plans with defined materiality thresholds.
We evaluate internal financial controls — walkthroughs of key processes, IT controls, authorization hierarchies, and segregation of duties to identify areas of material misstatement.
Confirmation of balances, physical verification of assets, vouching of transactions, cut-off testing, and search for unrecorded liabilities with enhanced procedures for complex areas.
Journal entry testing, fraud indicator screening, duplicate payment detection, Benford's Law analysis, and trend anomaly identification — increasing audit coverage beyond traditional sampling.
Independent Auditor's Report with CARO 2020 / LFAR as applicable, plus a Management Letter with control improvements, risk mitigation strategies, and governance recommendations.
Empaneled with CAG, RBI, IRDA, Income Tax Dept, ICAI, and RCS Delhi — a rare level of institutional trust.
Data analytics, AI-powered journal entry testing, and anomaly detection — increasing audit coverage beyond sampling.
LLM from NLU Delhi and AML Specialist. Essential for forensic audits, PMLA compliance, and legally defensible findings.
Sector-specific teams for banking, insurance, PSUs, MSMEs, societies, and cooperatives.
22+ years of practice with zero disciplinary actions, zero regulator complaints, zero peer review observations.
Every report includes actionable insights — control improvements, risk mitigation, process optimizations.
Statutory Audit is a legally mandated annual examination under the Companies Act 2013 (Sections 139-147). Every company — private limited, public limited, OPC, or Section 8 — must undergo it. Cooperative societies and trusts also require audit under their governing statutes.
Mandatory when business turnover >₹1 crore (₹10 crore if cash ≤5%), professional receipts >₹50 lakh, or presumptive taxation declares below prescribed percentage. Due date: 30th September of the assessment year.
Compulsory CA GST audit was removed August 2021. However, taxpayers with turnover >₹5 crore must self-certify GSTR-9C alongside GSTR-9. Departmental audits under Section 65 and special audits under Section 66 still apply.
Yes. Cooperative housing societies must undergo annual audit under the respective state Cooperative Societies Act. RWAs registered as societies need audit under the Societies Registration Act 1860. Even unregistered RWAs benefit from voluntary audit for financial transparency, member confidence, and dispute prevention.
MSME Business Audit is a comprehensive 360-degree review covering statutory compliance, tax & GST compliance, Udyam registration, working capital optimization, internal controls, and readiness for growth milestones like bank funding, government tenders, or SME IPO listing. It helps MSMEs transition from basic compliance to growth-ready financial management.
Main offices in Dwarka & Rajendra Place, New Delhi. Regular engagements across Delhi-NCR (Gurgaon, Noida, Faridabad, Ghaziabad), Patna (Bihar), Pune (Maharashtra). For bank/CAG audits, we operate at branches across all Indian states per empanelment assignments.
From statutory audits to forensic investigations, society/RWA audits to MSME business reviews — CA Alok Kumar's 110-member team delivers with precision, independence, and actionable insights.
