Statutory audit refers to the financial statement audit to find out whether they give a true and fair view of the financial position of the company. Statutory audit is a requirement by law or regulatory authority of a particular jurisdiction to be carried out.
Our team of auditors and accountants conduct statutory audits by examining our client’s bank accounts, financial statements, transactions, bookkeeping records, ledgers, and other documents that should be submitted for tax purposes and government requirements.
Significance of statutory audit
- Statutory audits provide an independent opinion on the true and fair view of the financial position and profitability of a company.
- By conducting a statutory audit we help our clients gain credibility which plays a vital role in the growth of a company.
- Helps in maintaining accurate financial records and this is achieved when an external auditor goes through the book of accounts.
- External audit helps in reducing the chances of fraud in the company/ organization.
- Carrying out a statutory audit ensures that the financial statements are in line with the statutory requirement and all the necessary disclosures required by the law are adequately made.
- Statutory audit ensures that the financial statements of an entity are comparable with the previous period and with similar organizations in terms of their format and content.
- It helps in strengthening the internal audit of a company.
Why partner with us for statutory audit
MNC Consulting Group has a team of highly qualified and experienced auditors and accountants who have worked with clients in different industries, and they have the knowledge on how to customize their audit methodologies depending on the statutory audit services requirement and our client’s environment.
Our firm has earned a good reputation due to our unbiased opinion and great dedication. Our team is objective and independent and consequently, we are able to provide significant value to our audit and assurance clients.
Contact us today and have your statutory audit done!