Statutory aduit is basically verified or certified by the CA that the book of accounts are maintained as per enactment of the law or as per custom of the entity who have not followed Accounting standard & other law near there to
statutory audit is an audit whcih is conducted by a person or a firm in whcih all the partners are member of ICAI and holding Certificate of practice, statutory auditor is basically responsible for reporting on mistakes , errors which they find during the course of audit.
Statutory audit is done by chartered Accountants, to verify the financial statement's fairness and it is done annually.It ensures that, to the best knowledge of the auditors, financial statements are free from any misrepresentations and frauds.
statutory audit is comulsory audit OR audit by law is called statutory audit. it is also called internal audit. it is done by independant charter accountant. statutory audit investigate the fraud and mistakes in the companies financial satatements...
Statutory Audit is audit done by CA firm on annual basis. It is audit done by external auditors which are appointed by the organisation in their AGM.They look for whether balancesheet represents true and fair view as per AS issued by the ICAI or as per their related By-Laws.
Statutory audit means examination of the accounts statement by a Chartered Accountant who is appointed by the Shareholders of the Company at Annual General Meeting. Auditor is responsible to report to the Shareholders about the position of the Company.
It is an audit conducted on the annual financial statements of the company to express an opinion on whether the FS present a true and fair view of the company. It is done by the statutory auditor who will be a chartered accountant appointed by the shareholders of a company.
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 are 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
statutory audit is done only if the balance sheet of the company is not equal. Statutory Audit is auditing done by CA of the company on annual basis. It is audit done by external auditors which are appointed by the organisation in their AGM.They look for whether balancesheet representation is correct or wrong according to the companies balance sheet as per the rules
Statutory audit is compulsory audit required by the state to give a detailed report of a company to its stakeholders. This is conducted by external auditors to give their independent opinion on the financial records..