Tax & Compliances

Statutory Audit Services

A statutory audit is a legally required examination of a company’s financial records to ensure accuracy and compliance with applicable laws and regulations in India. It helps build credibility, ensures transparency, and safeguards stakeholders’ interests.

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Service Overview

Everything you need to know about this service

A statutory audit is mandated under the Companies Act, 2013 and other applicable laws for certain entities in India. It involves an independent review of financial statements, accounting records, and internal controls by a qualified Chartered Accountant.

The purpose of a statutory audit is to verify whether a company’s financial statements present a true and fair view of its financial position. It also ensures compliance with accounting standards, tax laws, and regulatory requirements.

Our statutory audit services are designed to help businesses stay compliant, identify financial risks, improve internal processes, and enhance stakeholder confidence. Whether you are a startup, SME, or large enterprise, we provide accurate, timely, and reliable audit support tailored to your needs.

Step-by-Step Process

Our transparent, client-first approach from start to finish

1
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Initial Consultation

Understanding your business structure, audit requirements, and timelines

2
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Document Collection

Gathering financial statements, books of accounts, and supporting documents

3
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Audit Planning

Designing a customized audit plan based on risk assessment

4
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Execution of Audit

Verification of transactions, compliance checks, and internal control evaluation

5
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Issue Identification

Highlighting discrepancies, risks, and improvement areas

6
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Audit Report Preparation

Drafting and finalizing the statutory audit report

7
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Final Submission & Guidance

Submitting reports and providing recommendations for compliance improvement

1
Step icon
Initial Consultation

Understanding your business structure, audit requirements, and timelines

2
Step icon
Document Collection

Gathering financial statements, books of accounts, and supporting documents

3
Step icon
Audit Planning

Designing a customized audit plan based on risk assessment

4
Step icon
Execution of Audit

Verification of transactions, compliance checks, and internal control evaluation

5
Step icon
Issue Identification

Highlighting discrepancies, risks, and improvement areas

6
Step icon
Audit Report Preparation

Drafting and finalizing the statutory audit report

7
Step icon
Final Submission & Guidance

Submitting reports and providing recommendations for compliance improvement

Ready to begin? Book your free consultation.
Get Started

Required Documents

Common documents needed to initiate this service

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Financial Statements* Balance Sheet, P&L, Cash Flow Statement
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Trial Balance* Latest and previous year comparison
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Books of Accounts* Ledger, journals, and accounting records
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Bank Statements* For reconciliation and verification
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GST Returns* Filed returns for the financial year
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Income Tax Returns* Previous filings for cross-verification
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Invoices & Bills* Sales and purchase supporting documents
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Fixed Asset Register* Details of assets and depreciation
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Loan Agreements* If applicable
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Board Resolutions* For companies (if required)

Important: An exact checklist tailored to your matter will be provided after the initial assessment.

Who Can Apply?

Eligibility and jurisdictional criteria for this legal service

  • All companies registered under the Companies Act, 2013

  • LLPs with turnover exceeding ₹40 lakh or capital contribution above ₹25 lakh

  • Partnership firms (if required under specific regulations or agreements)

  • Banks, insurance companies, and financial institutions

  • NGOs and trusts receiving government grants or crossing prescribed limit

Need a personalised assessment? Eligibility depends on locus standi — your legal standing. Contact us for a precise evaluation.

The Nyaya Path Advantage

Why clients across India trust us with their matters

We offer a client-focused and transparent approach to statutory audits, ensuring complete compliance without disrupting your business operations. Our experienced professionals combine deep knowledge of Indian laws with practical insights to deliver accurate and timely audit reports. We prioritize clear communication, proactive risk identification, and actionable recommendations to help you strengthen financial systems and avoid future issues. With us, you don’t just get compliance—you gain a trusted advisory partner.

Frequently Asked Questions

Common queries about Statutory Audit Services

Yes. All companies registered under the Companies Act must undergo an annual statutory audit.
Only a qualified, independent Chartered Accountant (CA) or a CA firm.
Depending on the size of the business, it may take 1–4 weeks.
Even if there is no business activity, a statutory audit is still mandatory.
A detailed audit report certifying that the financial statements give a true and fair view of the company’s financial position.
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Book a Consultation

Speak directly with an expert about your Statutory Audit Services matter. Our team will assess your situation and chart the best path forward.

Attorney-client privilege from first contact
Response within business hours
Available via phone, video, or in-person
Transparent consultation structures

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