An NBFC statutory audit closes on time when the books are reconciled before the auditor arrives: loan system to general ledger and bank, co-lending and Business Correspondent partners, and income against TDS and fees against GST. Audit readiness also needs complete PBC (prepared by client) schedules, documented asset classification, provisioning and Ind AS workings, and closed internal audit findings. Timely adoption of the audited accounts and annual report matters because lenders and investors read them before renewing or increasing funding.
Each of these turns into auditor queries, adjustments and delay. For an NBFC that depends on borrowings, a late audit means late annual returns, late lender submissions and harder funding conversations.
Audit support means one person who owns the audit for the NBFC: tracking the PBC list, answering queries the same week, coordinating with operations and branches, reviewing draft financial statements and disclosures, and closing management letter points afterwards. It works best on top of a monthly close and a head office internal audit, so the year-end holds no surprises.
We review your books, controls and systems, and show you what your own Decision Brief would say. Each month Regi also writes The CFO Desk, a LinkedIn newsletter for owners running businesses in the Gulf, overseas and India.