A statutory audit is a legally mandated audit of a company’s financial records to ensure accuracy and compliance with applicable laws. At Bhate Rawal & Co. LLP, we provide comprehensive statutory audit services that not only meet regulatory requirements but also strengthen your financial credibility. Our team of experienced Chartered Accountants ensures your business stays compliant while gaining valuable insights into financial performance and risk areas.
What is a Statutory Audit?
A statutory audit is an independent examination of financial statements required under laws such as the Companies Act, Income Tax Act, or other regulatory frameworks. The objective is to:
- Verify the accuracy of financial statements
- Ensure compliance with legal requirements
- Provide assurance to stakeholders
Who Requires a Statutory Audit?
Statutory audits are mandatory for:
- Companies registered under the Companies Act
- LLPs exceeding prescribed turnover limits
- Businesses covered under tax audit provisions
- Organizations required by regulatory authorities
If your business falls under any statutory requirement, conducting a statutory audit is not optional—it is mandatory.
🔷 Our Statutory Audit Services
At Bhate Rawal & Co. LLP, we deliver end-to-end statutory audit services:
✔ Financial Statement Audit
Detailed examination of balance sheet, profit & loss account, and cash flow statements.
✔ Compliance Audit
Ensuring adherence to Companies Act, accounting standards, and regulatory requirements.
✔ Risk Assessment
Identifying financial and operational risks that may impact your business.
✔ Internal Control Evaluation
Reviewing internal systems to detect inefficiencies and improve governance.
✔ Audit Reporting
Clear, accurate, and actionable audit reports for stakeholders.
🔷 Benefits of Statutory Audit
A well-executed statutory audit provides:
- ✅ Legal compliance and peace of mind
- ✅ Enhanced credibility with investors and banks
- ✅ Improved internal controls
- ✅ Detection of fraud and errors
- ✅ Better financial transparency
🔷 Our Audit Approach
We follow a structured methodology to ensure quality and accuracy:
- Understanding business operations
- Risk assessment and audit planning
- Testing and verification
- Documentation and reporting
- Post-audit advisory
🔷 Why Choose Bhate Rawal & Co. LLP?
- ✔ Experienced audit professionals
- ✔ Deep understanding of Indian regulations
- ✔ Industry-specific expertise
- ✔ Timely and reliable service
- ✔ Client-focused approach
🔷 Industries We Serve
We provide statutory audit services to:
- Startups and SMEs
- Corporates and large enterprises
- Manufacturing & trading businesses
- IT and service companies
🔷 FAQs on Statutory Audit
Is statutory audit mandatory in India?
Yes, statutory audit is mandatory for companies and certain entities as per legal requirements.
What is the difference between statutory audit and internal audit?
A statutory audit is legally required, while internal audit is conducted voluntarily for internal control and efficiency.
Who can conduct a statutory audit?
Only a qualified Chartered Accountant or a CA firm can conduct a statutory audit.
🔷 Call to Action
Need reliable statutory audit services?
Get expert support from Bhate Rawal & Co. LLP to ensure compliance and build financial trust. 👉 Contact us today for a consultation.