Statutory Audit & Assurance
Statutory Audit & Assurance
Our experienced audit team will scan through your records and conduct an effective and efficient statutory and tax audit well within the statutory timeframe.

All the companies registered under the Companies Act, 1956, whether public or private and whether having a share capital or not, are required to maintain proper books of accounts under Section 209 of the Companies Act, 1956. Companies have also to get their Books of accounts audited as required under section 224 of the Act.

Section 224 governs the appointment of auditors. The auditors are to be appointed by the shareholders of the company in an annual general meeting by passing an ordinary resolution. Kindly note appointment of Statutory under section 224(1) is an ordinary business read with Section 173 of the Companies Act, 1956.

First auditors are to be appointed by the Board of directors within one month of the date of registration of the company as per section 224(5).

Tax Audit is mandatory if a Assessee having gross receipt/sale above of Rs.60,00,000 and for professional Receipt is above 25,00,000.

First Auditior is appoinated by BOD within 1 month from date of reg. of the company.IF BOD fails, auditor is appoinated by share holder passing a board resolutaion.

Continuing globalization will increase the complexity of principles, regulations, and the cultures in which organizations operate. Increasing litigation, legislation, and regulations will carry important compliance implications. Ever growing competition will increase the pressure on organizations to enhace productivity.

The principal objectives of the Statutory Audit is to ensure that the financial statements i.e. the Balance Sheet, Profit & Loss Account and Cash Flow Statement give a true & fair view and are free from any material misstatements.

Our approach to Statutory Audit of the financial statements is to provide reasonable assurance that the accounts have been prepared in accordance with the Generally Accepted Accounting Principles (GAAP) and is free of any misstatements, errors and discrepancies. In addition to the traditional statutory audit, we also help the clients by monitoring organizational ethics, conducting effective reviews of operational and financial performance, assessing the quality, economy and efficiency of their operations and suggesting continuous improvement strategies