The reason of execution of the statutory audit is to verify all the processes in which a company spends the funds and earns profits. The audit is also performed intending to observe the methods used for spending such money are in accordance with the laws and policies vigorously put into practice for that use. Therefore, the statutory audit is very important.

A statutory audit is an officially required assessment that is performed to verify the overall correctness of entity’s financial records and statements. The major intention of carrying out statutory audit is to conclude whether the entity is offering the precise and reasonable illustration of its existing financial position.

An entity is required to report their financial position and performance at regular intervals to the various stakeholders including Shareholders, Government authorities, Bankers, etc.

The statutory audit is carried out by strictly examining accounting information of all the financial transactions from bookkeeping records to bank balances. The leading CA firm in Ahmadabad, Parikh & Associates charted accountants handle the statutory audit dexterously to make sure that all the steps that are associated with the process are performed properly.

The statutory audit is not performed to check fraud, non-compliances, or lapses, but it is adroitly planned to help the organization to prevent misappropriation of funds and illegal activities with regular assessment of the numerous records provided by some competent third party.

We at Parikh & Associates charted accountants conduct the audit of the financial statements of an organization in line with the requirements of the statute and provide our opinion on the financial statement with its true and fair view.