No. Statutory audit, Tax Audit and GST Audit are not included in this services subscription. Inrole can work with an auditor of the client’s choice or connect the client with one of it’s affiliates.
Types of Audit:
Statutory Audit is a mandatory compliance for all entities registered under the Companies Act - Private Limited and Public Limited Companies.
Tax Audit is a conditional audit conducted under the Income Tax Act. If the turnover of any entity – Sole Proprietor, Private Limited Company or LLP is more than 1 crore, and in case of professionals if the value of services is more than Rs. 50 lacs, a Tax Audit is required to be conducted by a qualified CA.
GST Audit is a conditional audit conducted under the Goods and Service Act. If the turnover of any entity – Sole Proprietor, Private Limited Company or LLP is more than 2 Crores, a GST Audit is required to be conducted by a qualified CA/Cost Accountant.