Statutory Audit

Statutory Audit

Auditing of the records of accounting in accordance with the provisions of the Statute to maintain a accurate and equitable representation of the accounting in conjunction with the specific legal situation in which the audit is undertaken. To order to maintain accurate and equal accounting of transactions and other claims of incorporation of all accounting under the Indian Company Act, the reports will be audited by the CA. The auditor shall track and evaluate each report in accordance with the provisions and legislation of the Company Act. Statutory is essential for assuring the reliability of company’s annual accounts of various stakeholders like debtors, creditors, bankers, shareholders and government.

The process of the statutory audits has become increasingly complicated recently. Statutory environment in cooperation with synchronization of various accounting parameters and the reliance of various stake holders on audited accounts have increased the questionability of statutory auditors.