A statutory audit is an independent examination of the books, supporting records, and financial statements so that an opinion can be given on whether they present a true and fair view and comply with the applicable reporting framework. For companies the duty arises under the Companies Act, 2013. Similar obligations apply to LLPs and other entities where law or a regulator requires an auditor’s report.
The engagement covers planning, risk assessment, tests of balances and disclosures, and a written report to those charged with governance. Findings on internal control and statutory non-compliance are raised separately so management can close them before the next filing cycle.
We staff statutory audits for construction, manufacturing, textiles, services, automotive, finance, jewellery, and software entities, keeping working papers aligned with ICAI Standards on Auditing.