Statutory Audit

Get done your statutory audit mandated by the law or statute

  • Evaluate honest financial position of your company and get accurate representation

Statutory Audit means a type of audit mandated by the law or a statute to make sure that the book of accounts is true and fair as presented to the public. It is intended to determine financial position by analyzing financial transaction, accounting records and related documents.

Benefits associated with it.

Reperformance. Observation. Inspection 

  • It offers credibility in the market.
  • It ensures better compliances.
  • It helps in better financial planning.
  • It helps in to plan better budgeting.
  • It ensures prevention of fraud.
  • It represent authenticity of financial statements.

Checklist for Statutory Audit

Analysis checklist. Make it simple.

  • Complete set of financial statement.
  • Copy of all details furnished to ROC.
  • List of all transaction made with parties.
  • Last year statutory audit report.
  • Bank statements signed by the respective bank.
  • Assets & Inventory verification report.
  • Details of all contingent liabilities.
  • Reconciliation of all sales, purchase and taxes.
  • List of all credit and debit notes.

Procedure for Statutory Audit.

Methodology, simplified.

  • The Chartered Accountant assigned for conducting audit of an organisation has to present the audit report online, using his/her official login credentials.
  • The organisation also has to mention the relevant information about their Chartered Accountant in their login platform.
  • Once the audit report is uploaded by the auditor, it has to be either accepted or rejected by the organisation on their login portal. If the organisation rejects the audit report, the entire process has to be repeated until the audit report is accepted by him/her.

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