A smooth statutory audit depends less on last-minute scrambling and more on organised financial records and supporting evidence. Preparing a simple data room early saves management time and helps auditors focus on substance.
Core document sets
- Trial balance, general ledger, and sub-ledgers reconciled to the balance sheet and P&L.
- Bank statements and reconciliations for all operative accounts through the audit period.
- Fixed asset register, depreciation working, and major purchase invoices or contracts.
- GST and TDS returns with challans; key compliance registers your business maintains.
If there were related-party transactions, loans, or one-off events (merger, impairment, restructuring), keep board resolutions and agreements handy. Your audit team may also request samples of revenue and expense vouchers.
Planning an audit this year? Speak with KCA TaxCare about audit and assurance support.