What is a Statutory Audit?

A statutory audit is a yearly check of a company's books of accounts and financial statements by an independent Chartered Accountant (CA). It is required by the Companies Act, 2013. The auditor checks whether the balance sheet and the profit and loss account show a true and fair view of the company's financial position, and then gives a written opinion in the Auditor's Report.

The word "statutory" means that the audit is required by law. A company does not have a choice. Even a small private company or a company that has not done any business must get its accounts audited every year.

CA Arpit Gupta provides statutory audit services for private limited companies, OPCs, public limited companies and Section 8 companies, with proper planning, clear communication and timely filing.

Which Companies Need a Statutory Audit?

Note: LLPs and sole proprietorships follow different rules. An LLP needs an audit only when it crosses the limits set in the LLP law.

Why is Statutory Audit Important?

• Companies must comply with the companies Act to avoid penalties
• An independent check reduces errors and wrong entries
• Trust of banks and investors
• The auditor can find weak controls and mistakes at an early stage
• Base for Tax and ROC filings
• The owners get a clear view of profit, assets, debts and risks
• Audited accounts are accepted as strong proof for visas, tenders and funding

What Documents Are Needed for a Statutory Audit?

• Trial balance and ledgers of the company
• Bank statements for the full year
• Sales and purchase invoices
• Expense bills and vouchers
• Fixed asset register and purchase papers
• Stock details and stock count records
• Loan statements and agreements
• Debtor and creditor lists with balances
• GST returns, TDS returns and tax payment challans
• Salary registers, PF and ESI records
• Share capital details and statutory registers
• Minutes of board and general meetings
• Details of related parties and transactions
• Agreements, contracts and major legal papers
• Previous year's audited financial statements and Income Tax Return

If your books are not ready, we can help you complete or correct them before the audit begins.

How Does Our Statutory Audit Process Work?

1. Call or WhatsApp us on +91-7081220600
2. Tell us about your company like type, turnover, number of staff and past audit status
3. We check eligibility and independence and share our proposal and fee
4. The auditor is appointed with the required consent, certificate and ADT-1 filing
5. We plan the audit and share the list of documents and the timeline
6. You share the books and records
7. We audit the accounts: checking entries, vouching, confirming balances and testing controls
8. We discuss the findings with you and suggest corrections
9. We finalise the financial statements and the Auditor's Report with UDIN
10. We help you with the AGM papers and with the ROC filings such as AOC-4 and MGT-7 or MGT-7A
11. We remind you about the next due dates

What Mistakes Should You Avoid?

• Not appointing the first auditor within 30 days of incorporation
• Forgetting to file ADT-1
• Not closing the books and bank reconciliations before the audit
• Leaving old entries and unreconciled balances without explanation
• Not keeping the board and AGM minutes
• Mixing personal and company expenses
• Ignoring GST and TDS mismatches
• Appointing an auditor who is not eligible
• Starting the audit too close to the AGM date

Why Choose CA Arpit Gupta for Statutory Audit?

• Practising Chartered Accountant
• You get a clear timeline and a document list at the start
• Correct compliance like appointments, ADT-1, AOC-4 and MGT-7 handled in the same place
• Honest feedback
• Support for old defaults
• One CA for all needs
• We explain every point without confusing terms
• Easy contact

Get Your Company Audit Done on Time

Do not wait for a notice or a late fee. Share your company details with CA Arpit Gupta, and we will plan and complete your statutory audit and the related ROC filings.

Call or WhatsApp CA Arpit Gupta at: +91-7081220600.