Statutory Audit
Mandatory annual audit under the Companies Act, 2013 for all Private Limited and Public companies. We ensure your financial statements show a true and fair view, compliant with Indian Accounting Standards (Ind AS/AS) and CARO 2020.
Key benefits
- Absolute Compliance: Keeps you compliant with MCA regulations, preventing massive fines and director disqualification.
- Investor Confidence: Clean audit reports are the baseline requirement for VCs, private equity, and bank loans.
- Fraud Detection: Our rigorous vouching and verification acts as a strong deterrent against internal fraud or misallocation.
- CARO 2020 Ready: Detailed reporting on fixed assets, inventory, statutory dues, and loan defaults as mandated by the government.
Documents required
- Trial Balance, Profit & Loss A/c, and Balance Sheet.
- Bank reconciliation statements and balance confirmation certificates.
- Fixed asset registers and inventory valuation sheets.
- Statutory registers, board meeting minutes, and ROC filing receipts.
- Major vendor/customer agreements and loan sanction letters.
How it works
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1
Audit Planning
Defining materiality, analyzing risk areas, and issuing the Engagement Letter.
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2
Fieldwork
Execution of audit procedures, sampling transactions, and testing internal financial controls.
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3
Drafting Financials
Preparing Schedule III compliant financial statements and notes to accounts.
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4
Reporting
Issuing the final Independent Auditor's Report (clean, qualified, or adverse).
Frequently asked questions
My company had zero turnover this year. Is an audit still required?
Yes. Under the Companies Act, 2013, a Statutory Audit is mandatory for every registered company regardless of turnover, profit, or loss—even if the company did zero business.
What is CARO 2020?
Companies (Auditor's Report) Order, 2020 requires auditors of certain companies to report on 21 specific clauses, including whistleblower complaints, internal audit systems, and benami properties. We determine if CARO applies to you.
Who appoints the statutory auditor?
The first auditor must be appointed by the Board of Directors within 30 days of incorporation (Form ADT-1). Subsequent auditors are appointed by shareholders at the AGM for a 5-year term.