Audit & Assurance

Statutory
Audit

Comprehensive Statutory Audit under the Companies Act, 2013 by expert Chartered Accountants - financial audit, internal controls evaluation, and compliance reporting.

Mandatory for All Companies
CARO 2020 Compliance
Due by 30th September
Overview

What is Statutory Audit?

Statutory Audit is a mandatory audit of the financial statements of a company conducted under the provisions of the Companies Act, 2013. Every company registered under the Act, irrespective of its turnover or size, is required to appoint a Chartered Accountant as its statutory auditor.

The auditor examines the company's books of accounts, financial statements, internal controls, and compliance with accounting standards (Ind AS / AS). The audit culminates in issuing an audit report to the shareholders expressing an opinion on whether the financial statements give a true and fair view.

Our team of experienced CAs provides thorough statutory audit services, ensuring compliance with the Companies Act, applicable standards, and regulatory requirements while adding value through insightful observations and recommendations.

True & Fair Opinion

Independent assurance on whether financial statements present a true and fair view

Internal Controls

Evaluation of internal financial controls and reporting on their adequacy and operating effectiveness

CARO Reporting

Companies (Auditor's Report) Order 2020 reporting on specified matters and compliance areas

Compliance Check

Verification of compliance with Companies Act, Ind AS, SEBI, and other applicable regulations

Why Choose

Benefits of Statutory Audit

Legal Compliance

Fulfil the mandatory audit requirement under Section 139 of the Companies Act, 2013. Non-compliance can attract penalties and legal consequences.

Stakeholder Assurance

Audited financial statements build trust with shareholders, investors, banks, and regulatory authorities.

CARO Compliance

Comprehensive reporting as per Companies (Auditor's Report) Order 2020 covering key areas of compliance.

Timely Filing

We ensure the audit report is filed with MCA (ROC) before the 30th September deadline, avoiding penal provisions.

Expert CA Team

Our qualified CAs bring deep knowledge of Companies Act, Ind AS, and auditing standards to your audit.

Value Addition

Our audit reports include management letters with observations and recommendations for process improvements.

Requirements

Documents Required

Financial Records

  • Balance Sheet & Profit & Loss Account
  • Trial Balance with detailed schedules
  • Cash Flow Statement
  • Fixed Asset Register & depreciation schedule
  • Inventory records & stock statements
  • Debtors & Creditors ledgers

Statutory & Compliance

  • MOA & AOA / Partnership Deed
  • Board Meeting Minutes & Resolutions
  • PAN, TAN & GST Registration Certificates
  • Related party transaction details
  • Bank statements & confirmation letters
  • Previous year audit report & tax returns
How It Works

Statutory Audit Process

1

Planning

Understand business, assess risk, and develop audit strategy and materiality

2

Internal Control Testing

Evaluate design and implementation of internal financial controls

3

Substantive Procedures

Test transactions, balances, and disclosures with audit evidence

4

Report Drafting

Prepare audit report with opinion, CARO, and management letter

5

Filing & Submission

Submit audit report to Board/AGM and file with MCA portal (ROC)

FAQ

Frequently Asked Questions

Every company registered under the Companies Act, 2013, irrespective of its size, turnover, or profitability, must appoint a statutory auditor and get its accounts audited. One Person Companies (OPCs) and small companies are also covered but may have simplified reporting requirements.
The audit report is issued in Form 10B/10BB as per the Companies (Audit and Auditors) Rules, 2014. The report includes the auditor's opinion on financial statements, CARO report (where applicable), and reporting on internal financial controls.
The statutory audit must be completed before the Annual General Meeting (AGM) of the company, which must be held within 6 months of the financial year-end (i.e., by 30th September). The financial statements and audit report must be filed with the ROC within 30 days of the AGM.
CARO (Companies Auditor's Report Order) 2020 is issued by the MCA requiring auditors to report on 21 specific matters including fixed assets, inventory, loans given, deposits accepted, managerial remuneration, and related party transactions. Non-compliance is reported in the audit report.

Get Your Statutory Audit Done Today

Ensure compliance with the Companies Act and get reliable audit services from our expert CA team.