PSU Audits – Statutory & Compliance Audits for Public Sector Undertakings (PSUs)
Public Sector Undertakings (PSUs) play a pivotal role in India’s economy, operating in strategic sectors like infrastructure, power, telecom, transport, and manufacturing. Given their large-scale operations and significant public fund utilization, PSUs are subject to rigorous statutory audits, compliance reviews, and performance evaluations by the Comptroller & Auditor General (CAG) and other regulatory bodies.
We offer specialized PSU Audit Services covering statutory financial audits, internal audits, tax compliance audits, and performance audits for Central and State PSUs. Being a CAG Empaneled Audit Firm, we have extensive experience in handling audit assignments under CAG guidelines and PSU-specific audit frameworks.
Our audit scope includes verification of financial statements, compliance with Companies Act, PSU-specific accounting standards, regulatory filings, fund utilization reviews, evaluation of internal controls, procurement compliance, and risk assessments. We ensure PSUs maintain transparency, accountability, and compliance with Government policies and directives.
In addition to statutory audits, we provide representation support during CAG inspections, assist in drafting replies to audit observations, and offer advisory on strengthening governance and operational efficiency. Our structured audit process aims to minimize audit objections, improve financial reporting, and support PSUs in achieving better audit ratings.
Frequently Asked Questions (FAQs)
PSU Audits are statutory audits conducted for Public Sector Undertakings as mandated by the Comptroller & Auditor General (CAG) of India, in addition to Companies Act requirements and regulatory authorities.
Yes, PSUs are mandated to conduct periodic internal audits to ensure internal controls, operational efficiencies, and compliance with PSU-specific governance frameworks.
Key areas include financial accuracy, fund utilization, regulatory compliance, procurement process reviews, internal controls, and performance benchmarking.
Absolutely. We provide end-to-end support in drafting responses, compiling documentation, and representing PSUs during CAG inspections and audit reviews.
Audit & Assurance
- Statutory Audits (Companies Act)
- Internal Audits
- Tax Audits (Income Tax Act)
- Bank Audits (Statutory & Concurrent)
- Forensic Audits
- Management/Operational Audits
- Stock Audits
- Due Diligence Reviews
- System & Process Audits
- ESG/CSR Audits
- Trust & NGO Audits
- Startup Audits
- Municipal Corporation Audits
- CAG Audits
- PSU Audits
- Social Audits (MNREGA, etc.)
- Autonomous Body Audits
- Co-operative Society Audits
- Parliament-tabled Audit Reports
- PSE Audits
CA. Dhiraj Jain
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