Statutory Audit

Statutory audit is a type of audit which is mandated by a statute or law to ensure that the books of account presented to the stakeholders and regulatory authorities represent a true and fair view. Statutory audit helps an organization in providing a clear and accurate representation of its financial situation, where an external auditor examines the entity’s books of accounts, assets and liabilities and financial statements.

Applicability

• As per the Companies Act 2013, all public and private limited companies, irrespective of their nature of business, has to mandatorily get its accounts audited annually

• A company must appoint an external auditor within 30 days from the date of company’s incorporation

• A Limited Liability Partnership (LLP) has to undergo a statutory audit only if its turnover in any financial year exceeds INR 40 lacs or its capital contribution exceeds INR 25 lacs

How can we help you?

• Our consistent standards of audit services will help your organization to comply with the applicable regulatory requirements, promoting investor confidence and transparency and thereby ensure consistent and sustainable growth.

• We provide assistance in handling complex accounting issues and disclosure requirements.

• We focus our review based on the size and nature of your business and therefore provide insights and qualitative suggestions suited for you.