Statutory Audit

Statutory audit is a legally mandated examination of a company's financial records, transactions, and statements to ensure compliance with applicable laws, regulations, and accounting standards. Conducted by independent auditors, it provides stakeholders, such as shareholders, creditors, and regulatory authorities, with assurance regarding the accuracy and reliability of the company's financial reporting. The audit encompasses a thorough assessment of internal controls, financial statements, and adherence to statutory requirements, helping to enhance transparency, accountability, and confidence in the company's operations.

  • Professional and experienced team
  • Cost-effective efficiency and timeliness  

    Terms & Condition*

    • Total payment may vary depending on government fees and the entity of the company.
    • Downtime on the government portal may cause work delays.
    • Documents should be appropriate as per the requirements.
    • Documents must be provided in time to avoid delay.
  • Proactive compliance management
  • Unlock the business's growth potential.
  • Transparency and communication
  • Comprehensive service offerings
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A Statutory Audit is an independent examination of a company's financial statements and records to ensure compliance with statutory requirements, accounting standards, and regulatory guidelines. It is conducted by a qualified external auditor appointed by the company's shareholders or regulatory authorities.

The primary purpose of a Statutory Audit is to provide assurance to stakeholders, including shareholders, creditors, regulators, and the public, about the accuracy, reliability, and transparency of the company's financial statements and disclosures. It helps in verifying the company's financial position, performance, and compliance with legal and regulatory requirements.

The key steps involved in a Statutory Audit include planning the audit engagement, understanding the company's business and internal controls, assessing risks, performing audit procedures such as substantive testing and analytical procedures, gathering audit evidence, evaluating findings, and issuing an audit report.

The responsibility for appointing the Statutory Auditor lies with the shareholders of the company. They typically appoint the auditor at the annual general meeting (AGM) based on the recommendation of the company's board of directors or audit committee.