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A Statutory Audit is compulsory by law to check accuracy of the company’s financial records. The motto of conducting a statutory audit is to check compliance’s part, check books of accounts are in line with law, review to determine that the financial records of company are in line with the law of land and disclosure made by company is fair and enough. The term Statutory Audit denotes that same is required by law. Audit is conducted to determine that financial records are prepared as per law like funds were handled correctly , taxes calculation done correctly etc.
In term of section 139(1) of the Companies Act, 2013 read with rule 3 of Companies (Audit and Auditors) Rules, 2014, every company shall appoint an individual CA or a firm of Chartered Accountants as an auditor. Section 139(6) of the Act stipulates that the first Auditor of the Company shall be appointed within 30 days of its date of registration.
We at S.V,.Bhat & Co,based on years of expertise have developed, employed and implemented the latest methods of audit ,for maximizing audit efficiency through a risk based international audit approach. This has enabled timely delivery and value added advisory services to clients.
We have conducted statutory audits of clients from different industries such as Information Technology (IT), manufacturers, real estate , traders, Ecommerce, hospitality etc.. In case you need these services, we would be glad to assist you. Please write to [email protected]