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CA Rinky Vishwakarma, Fellow Chartered Accountant
CA Rinky VishwakarmaFellow Chartered Accountant · SVT & AssociatesICAI No.: 177507
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Audit for a Purpose

Audit for a Bank Loan or CC Limit: Audited Accounts Lenders Accept, With UDIN

Audited financials and the supporting schedules a bank asks for when sanctioning or renewing a loan or cash credit limit.

First stepFree scoping callReply within 2 hours
FeeFixed, in writingBefore you pay
Signed byPractising CAUDIN on every report
Banks usually ask for audited financial statements before sanctioning or renewing a loan or cash credit limit. A practising CA's signed audit report with a UDIN, together with stock, debtor and creditor schedules, helps the bank assess the borrower. Each bank sets its own thresholds and format, so the exact requirement comes from your lender.
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Reviewed by CA Rinky Vishwakarma (ICAI No.: 177507) · Last updated

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CA Rinky VishwakarmaReviewed by CA Rinky Vishwakarma · ICAI No.: 177507
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1,000+
Clients served
20 years
Combined experience
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Google rating
UDIN
On every audit report
Who Needs This

Who Needs Audit for Bank Loan

The Details

Audit for Bank Loan: what to know

What a lender looks at

Credit teams read the audit report, the notes to accounts and the schedules of stock, debtors and creditors. They check whether stock and debtor figures in your stock statements match the audited balance sheet, and whether related-party loans or contingent liabilities are disclosed.

Even where a tax audit or statutory audit is not required, a bank may ask for audited accounts under its own policy. We prepare the accounts and audit so the numbers the bank sees are the same ones you file. The investor diligence page covers a similar situation for equity funding, and accounting for bank loan readiness explains how to prepare the books.

What banks commonly ask for
DocumentWhy the bank wants it
Audited balance sheet and P&LFinancial position and trend
Stock and debtor ageingCheck against drawing power
GST and tax returnsMatch turnover with accounts
Loan and security scheduleTotal debt and charges
What You Get

What Is Included

  • Audit report with UDIN
  • Stock, debtor and creditor schedules
  • Reconciliation with GST turnover
  • Notes on borrowings and security
  • Support for CMA data tie-out
  • Clarification letters to the bank
Documents Required

Documents Checklist

  • Last three years' accounts
  • Bank statements of all accounts
  • Sanction letters and loan statements
  • Stock statements submitted to the bank
  • GST and income-tax returns
  • Debtor and creditor lists with ageing

Free printable list: audit documents checklist format.

How It Works

How It Works, Step by Step

  1. Share your details

    Fill the form or WhatsApp us with your entity type and last year's turnover

    Day 1
  2. Free scoping call

    The CA reviews your trial balance, confirms the audit scope and quotes a fixed fee in writing

    Within 2 working days
  3. Audit fieldwork

    Testing, queries and adjustments on your records, with a clear list of open points

    Timeline agreed in writing
  4. Signed report with UDIN

    The CA signs the report, generates the UDIN and supports the follow-on filings

    On the agreed date
Transparent Fees

Audit Fees: Fixed in Writing After Free Scoping

The ICAI does not prescribe audit fees, so we do not publish a list price that would not fit your case. We scope your books for free and quote one fixed fee in writing, and you pay only after you accept it.

What decides your audit fee
FactorWhy it mattersEffect on fee
Turnover and transaction volumeMore entries to testHigher with more entries
Locations or branchesMore places to verifyHigher with each location
State of the booksUnreconciled books need cleaning firstLower with clean books
Reporting neededCARO, internal financial controls, consolidationHigher with more reports
TimelineShort notice means overtimeHigher if rushed
How the quote is laid out
LineHow it is shown
Our professional feeFixed amount in writing after scoping
GST at 18%Shown on its own line
Government or statutory fees (for example MCA filing fees)At actuals, shown separately
Total payableStated before you commit

Read the full explanation in our guide: audit fees in India.

Client Reviews

What Our Clients Say

G
★★★★★
4.81,000+ clients · View on Google Maps
★★★★★

"Ever since my association, I am impressed with the professionalism and personal conduct of the firm. Clients are made to feel belonging."

RS
Rachana SinghBusiness Owner · Google review
★★★★★

"An extremely professional setup, very responsible to all our needs. Strongly recommend for taxation and accounting services."

AD
Abhishek DubeyEntrepreneur · Google review
★★★★★

"The best for auditing, finance, and budget analysis. Will consistently give the best possible solution, worth every penny."

MS
Mayur SinkarCFO, Startup · Google review
Your CA

Reviewed and Signed by a Practising Chartered Accountant

CA Rinky Vishwakarma, Fellow Chartered Accountant, ICAI No. 177507

CA Rinky Vishwakarma

Signing Chartered Accountant, SVT & Associates
ICAI No.: 177507Fellow CA – ICAI20 years combined experience1,000+ clients served

Fellow Chartered Accountant (FCA) with over 12 years of experience across Big 4 audit, investment banking and independent practice. Personally reviews each engagement before sign-off, and signs audit reports in her capacity as a practising CA. Full profile: CA Rinky Vishwakarma.

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FAQ

Frequently Asked Questions

Does every bank loan need an audit?

No law requires an audit for every loan, but most banks set their own threshold and ask for audited financials above it. We check what your bank has asked for in writing and design the engagement around it.

Can you give the bank a CMA data certificate?

We can prepare the data that ties to the audited accounts. Whether a separate CA certificate is accepted is the bank's decision, and we confirm its format first.

Will an audit guarantee that the loan is sanctioned?

No. The audit gives the bank reliable numbers, but the sanction is the bank's decision. We do not promise approvals.

Can SVT & Associates audit my company and also keep its books?

No. Section 144 of the Companies Act bars a company's auditor from providing certain services to that company, including accounting and book-keeping, internal audit and design of financial information systems. We tell you this upfront so you do not end up with a conflict that a regulator or lender can challenge. If you need one of those services, we can arrange it through a separate engagement for a company we do not audit.

What documents do you need to start an audit?

Trial balance or the full accounting data file, bank statements and bank reconciliations, sales and purchase registers, GST returns and reconciliations, TDS returns and challans, fixed asset register, loan and borrowing confirmations, stock records, and the previous year's audited financials. Statutory records such as the minute book and registers are needed for companies. We send a checklist after the first call so you only collect what applies to you.

How long does an audit take?

The main driver is how complete and reconciled your books are when we start. Clean books with bank reconciliations done move quickly, while backlog, missing vouchers or unreconciled GST and TDS add time. After reviewing your trial balance and documents, we give you a timeline in writing before you commit.

How much does an audit cost?

The ICAI does not prescribe audit fees. The fee depends on turnover, transaction volume, number of locations or branches, state of the books, and the reporting needed, such as CARO or internal financial controls. We scope your case for free and share a written estimate. You pay only after you accept it.

How do I verify the UDIN on an audit report?

Every audit, attest and assurance report signed by a practising CA must carry an 18-digit UDIN generated through ICAI. You can check it at udin.icai.org. For tax audit reports, the UDIN is also quoted on the Income Tax e-filing portal when the report is uploaded.

Related

Related Services and Pages

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Free scoping call · Fixed fee in writing · Signed by a practising CA

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Who signs and issues the work. SVT & Associates is a Chartered Accountancy firm registered with the Institute of Chartered Accountants of India. Audit and assurance work is performed under the supervision of CA Rinky Vishwakarma (FCA, ICAI Membership No. 177507). Reports and certificates are signed by a practising CA and carry a UDIN. Under section 144 of the Companies Act, 2013, we do not provide book-keeping or internal audit services to a company whose statutory audit we perform. Our role in online document collection and delivery is administrative; the professional opinion is the CA's. Fees are shown before 18% GST. Dates and limits are as understood on the last-updated date and can change by notification. We do not guarantee any outcome, approval or sanction by a bank, lender or authority.
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