Tax & Compliance

Statutory Audit

Mandatory annual statutory audit conducted by a practicing Chartered Accountant.

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Overview

What is Statutory Audit?

A statutory audit is a legally required examination of a company's financial statements, ensuring they present a true and fair view in accordance with applicable accounting standards. It's mandatory for all companies registered under the Companies Act, regardless of turnover.

Adzova's chartered accountants conduct your statutory audit, prepare the audit report, and support you through ROC filing.

How It Works

Our Process

1

Engagement & Planning

Your auditor understands your business and plans the audit approach.

2

Fieldwork

Books of accounts, vouchers, and supporting records are examined.

3

Draft Financials Review

Draft financial statements are reviewed against audit findings.

4

Audit Report

The auditor issues the statutory audit report.

5

ROC Filing Support

Support with filing audited financials with the Registrar of Companies.

Checklist

Documents Required

  • Books of accounts for the financial year
  • Bank statements
  • Purchase and sales invoices
  • Previous year audited financials
  • Fixed asset register
FAQ

Frequently Asked Questions

Is statutory audit mandatory even for small companies?

Yes, every company registered under the Companies Act must get its accounts audited annually, regardless of turnover or profit.

How long does a statutory audit take?

Timelines vary with the size and complexity of your books, but most small-to-mid-sized companies complete fieldwork and reporting within 2–4 weeks.

What is the difference between statutory audit and tax audit?

A statutory audit examines financial statements for a true-and-fair view under company law, while a tax audit specifically verifies compliance with the Income Tax Act — many businesses need both.

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