Audit, Accounting Compliance Training at K. D. Patel and Association

Abstract

On my two months of training at K. D. Patel & Associates, Chartered Accountants, Ahmedabad, this report was created as a component of my MBA internship program at ATLAS SkillTech University. This internship's main goal was to close the knowledge gap between theory and practice in the areas of audit, accounting, taxation, and regulatory compliance. The report opens with a summary of the accounting and auditing industry, stressing its importance on a global scale, India's regulatory environment, and the technological advancements influencing the sector. Additionally, it offers a thorough overview of K. D. Patel & Associates, including its organizational structure, service offerings, growth since its founding, and its function in assisting individuals, startups, and SMEs with financial compliance. I actively participated in bookkeeping, TDS returns, GST filings, audit procedures, and ROC compliances throughout my internship. These assignments improved my technical and professional skills while giving me practical experience with statutory requirements. Particular attention is paid to my experience with Input Tax Credit (ITC) reconciliation and GST filing, which was the most difficult but worthwhile task. The report's conclusion includes a sectoral analysis that identifies opportunities and challenges in the Indian auditing and compliance sector, mentor feedback, recommendations for the firm, and a reflection on my learning outcomes. Ultimately, the internship prepared me for my future career in management and finance by improving my technical proficiency as well as my analytical, problem-solving, and communication skills.