A statutory audit is a type of audit that is required by law in India. In India statutory audits are governed under the Companies Act 2013 and the Income Tax Act. If your company meets certain conditions like being registered under the Companies act or crossing a specific income level, you must get your accounts audited by a certified auditor. The audit is not optional.
It is a legal requirement meant to check whether your company’s financial records are accurate and whether your business is following the lawful stop the objective is to ensure that the company’s present a true and Fairview of the financial positions to stakeholders like investors and banks. A strategery audit helps in building transparency, keeping your company’s financial health in check.
statutory audit fulfills your company's obligation under the Companies Act and the Income Tax Act.
It helps in identifying frauds errors or wrong reporting before they become a serious problem.
Audited financial statements help you build confidence among investors, lenders and partners.
Regular audits can help you avoid fines or even legal troubles from tax or regulatory bodies.
With a clean and transparent financial record, you can improve your company's credibility and brand image.
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