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A Statutory Audit is a legally mandated examination of a company’s financial records, books of accounts and financial statements conducted by an independent auditor to ensure accuracy, transparency and compliance with applicable laws and accounting standards.
The purpose of statutory audit is to provide stakeholders, regulators, investors and management with assurance that the financial statements present a true and fair view of the company’s financial position.
Statutory audits are generally conducted under the provisions of the Companies Act, Income Tax Act and other applicable regulatory laws.
Statutory audit helps businesses maintain transparency, accountability and legal compliance.
It helps organizations:
Examination of accounting records, ledgers, vouchers and supporting documents maintained by the business.
Review and verification of Balance Sheet, Profit & Loss Account, Cash Flow Statement and related disclosures.
Assessment of compliance with Companies Act, Accounting Standards, Income Tax provisions, GST regulations and other statutory requirements.
Review of financial controls and accounting systems to identify weaknesses and improve operational efficiency.
Examination and confirmation of fixed assets, inventory, receivables, payables, loans and other balances.
Issuance of audit report expressing an independent opinion on the financial statements of the organization.
Statutory audit may be required for:
The following documents are generally required:
Professional statutory auditors ensure that financial statements are audited in accordance with legal requirements and auditing standards. Expert audit services help businesses maintain compliance, improve governance and strengthen financial credibility.
Testimonial Detail
Thank you to Arpit jee for providing seamless support in our company registration and GST registration. The process was handled professionally, documentation was accurate, and communication was very prompt. Highly satisfied with the service and will definitely continue working with your team. Special mention to Priyanka and Namrata Jee to make things easier to connect.
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