Streamlining the Process of Company Registration and Audit Introduction Setting up a new business is an excellent but very stringent exercise. Every legal and financial procedure explains in minute detail how the founder’s approach goes well or badly as she provides an excellent platform for a new business venture. All processes covered by such a cycle make the process of company registration inevitable. In case you seek information on  company registration services in pune, the process taken and benefits associated, and also compliance involved is confirmed. In this paper, you would find the process involved in business registration and audits relating to transparency in financial transactions and compliance in it.

Why Should You Register Your Company?

Company registration is one of those widely accepted practices in the law that gives legal recognition to business. No business can lawfully run or benefit from whatever legal framework it has to offer without going through proper registration. The important reasons why company registration is essential are as follows:

• Creation of Legal Identity: A legal identity of his business away from its owners or shareholders may be created when registering.
• Limited Liability: It protects the personal assets of the owners because the liabilities generated by the business do not affect the personal capital.
• Business Credibility: The credibility to the customers, clients, and partners improves with a registered business, thereby easily creating relationships and expansions.
• Access to Resources: All the government schemes, bank loans, and investment opportunities come in handy to the registered companies.
• Compliance with Law: They are not penalized and do not face any problems regarding law and order.
  The entrepreneurs like the registration of a company since they know it adds value to their business operation.

Procedure of Company Registration in Pune

The process followed for the registration of companies varies as per the kind. Here is the stepwise procedure to make it an easy transition for you:

1.Select a Business Structure
Find the right business entity suited to your requirements. There is a sole proprietorship, partnership, private limited company, LLP, and one-person company. Each structure has benefits as well as different legal repercussions. 

Choose the one according to the requirements of your business.

• Obtain DSC:
  Modes of online registration forms, along with a requisition for most online applications, are sent at the same time, requesting a requirement of a digital signature. The authorized signatories, along with directors and interested persons, must be registered DSCs with some authorized government-licensed firm.
• DIN Number:
  Every director of the company will apply for his specific DIN number, which the MCA will issue, and on which he can file his application document for registration.

2.Reserving of Company Name
The name should be unique and acceptable for your business. Confirm if the name is available or not and register the same through the MCA portal. Your name should not hurt the guidelines of the name given under the Companies Act, 2013.

3.Incorporation documents preparation
Draft MoA and AoA. It provides the object, purpose, and scope of the company, along with articles of association that formulate rules and regulations by which it has to work. 

4.Get incorporation
You need to obtain documents such as the MoA, AoA, and proof of registered office from RoC. Post-approval, a certificate of incorporation would be provided to you that would serve the purpose of a certificate of incorporation. 

5.PAN and TAN
PAN and TAN should be available to satisfy the tax compliance. These are issued by the Income Tax Department.

This procedure will allow for maximum ease in registering companies in the city of Pune for the respective companies.

Company Registration in India: Widening Horizons

Process above is for Pune. Whereas during company registration in India, there are some other things also which need to be considered according to the whole aspect of the country’s accommodation. Companies Act, 2013 deals with the incorporation, management, and winding-up of companies. Some important things to be kept in mind are:

1.Types of Registrations
There exist private limited companies, public limited companies, LLPs, and so on. All differ in terms of compliance requirements and suitability depending upon the nature and scale of business.

2.Statutory Compliance
Once it is registered, it has to follow the statutory requirements. For example, the company is required to file annual returns, keep the financial statements, and it also has to conduct the board meeting. It may invite the penalties or even legal action in case it does not do so.

3.Industry-Specific Licenses
There may be some other clearances that are required in the particular industries, like food processing or manufacturing, so take them before starting operations for your business.

4.Local and State Level
Your state may have more regulations and procedures depending on which place your business operates. For example, a multi-state business needs to get registered under GST for every state wherein they carry on their operations.
All this ensures that your business is running according to all the legal standards, hence not facing any hitch in its operation.

Importance of Audits in Business

Audits are one of the main requirements to maintain the organization in an appropriate financial discipline and compliance. The auditing process involves the stringent examination of all the finance-related documents; thus, this makes them more transparent and introduces full compliance of legal aspects also. This boring job is now outsourced to professional audit firms operating in Pune.

Benefits of Audits

1.Accurate Accounting of Finance
Audits ensure that there are no errors and lies in all statements relating to the books of the company so that they can clearly indicate the general financial position.

2.Makes It Easy to Comply
Consistent auditing ensures that one is adhering to the tax law and accounting requirements; thus, the probability of experiencing lawsuits is reduced.

3.Detects Fraud
From the audit, financial details’ records and internal systems are scrutinized, and frauds or irregular cases are detected; hence corrective action on the wrongdoing is possible.

4.Improves Stakeholder Confidence
The transparency of financial reporting enhances investor, shareholder, and lender confidence, hence making it possible to get funding and grow easily.

How to Choose the Best Audit Firm

Selection of the proper audit firm is a critical step toward making sure your business does not breach legal requirements and is financially sound. While selecting an audit firm in Pune, evaluate the firm on the following fronts:

1.Experience and Expertise

Seek an audit firm with experience auditing a business your size, in your industry, and of your complexity.

2.Reputation

Evaluate the reputation of the firm from the reviews and testimonials of its clients.

3.Other Services

Most audit firms offer services other than audit, such as tax advisory and financial consultancy. By selecting a firm that offers many services, it can make compliance easier.

Business houses can tie up with a well-established audit firm; this would ensure they are more attentive toward growth in business, simultaneously adhering to all financial and legal compliances.

Conclusion
All this requires running and setting up a business under proper observance of legal and financial norms. Be it services for company registration in Pune or reliable audit firms in Pune, it is a part of the success process. Proper company registration ensures that the business is running lawfully and is hence credible. Audit is kept up for the assurance of financial transparency and accountability. With information and professional help, the businesses will have an excellent base in the marketplace.