Company Statutory Audit.
Every company registered in India, whatever its size, must have its annual financial statements audited by a chartered accountant under the Companies Act, 2013. We plan and run the audit under the ICAI Standards on Auditing and issue an independent auditor's report, with CARO 2020 and internal financial controls reporting where they apply. The opinion is our independent judgement, formed on the evidence.
Typically 3–6 weeks from receipt of closed books to the signed report for a single company. The number of locations and subsidiaries, inventory counts, and how quickly confirmations and management responses arrive drive the time.
A partner — a chartered accountant or company secretary — from the first call to sign-off.
Based on your situation, and fixed in writing before any work starts.
Is this for you?
- Private, public and one person companies preparing annual accounts for the AGM
- Companies appointing their first auditor after incorporation, or a new auditor when a term ends
- Groups with subsidiaries that need consolidated financial statements audited
- Companies whose lenders, investors or parent need audited figures
What you receive at the end.
- 01Independent auditor's report on the standalone (and, where relevant, consolidated) financial statements
- 02CARO 2020 report, unless your company is exempt from it
- 03Report on internal financial controls over financial reporting, where required
- 04Management letter on control weaknesses and recommendations (SA 265)
- 05Signed financial statements carrying a UDIN, ready for the board, the AGM and Form AOC-4
Company Statutory Audit, step by step.
Typically 3–6 weeks from receipt of closed books to the signed report for a single company. The number of locations and subsidiaries, inventory counts, and how quickly confirmations and management responses arrive drive the time.
- 1
Acceptance and appointment
We check eligibility and independence under sections 139 and 141 and give our written consent. You then file Form ADT-1 with the Registrar after the appointing meeting.
- 2
Planning and risk assessment
We understand your business, controls and IT systems, set materiality and identify where misstatement is most likely, as SA 300 and SA 315 require.
- 3
Interim and controls testing
We walk through key processes such as sales, purchases and payroll and test the controls in them, including the audit trail (edit log) in your accounting software.
- 4
Year-end fieldwork
We test balances and transactions: bank and party confirmations, inventory count attendance, cut-off, provisions, related-party transactions and tax positions.
- 5
Completion and review
We evaluate going concern, subsequent events and uncorrected misstatements, discuss findings with management and obtain written representations under SA 580.
- 6
Audit report issue
We sign the independent auditor's report, with the CARO 2020 and internal financial controls annexures where applicable, and send a management letter on control gaps.
What we need from you.
Don't have everything yet? We send a short checklist after the first call and work with what you have.
- Trial balance, general ledger and draft financial statements in Schedule III format
- Bank statements, loan sanction letters and balance confirmations
- Fixed asset register and inventory records with count sheets
- Board and general meeting minutes and statutory registers
- GST, TDS and income-tax returns, assessments and notices for the year
- Agreements for major contracts, borrowings and related-party transactions
- Previous year's audited financial statements and auditor's report
The fee depends on your situation. After a short call, the partner who will do the work tells you what's involved and gives you a fixed fee in writing — before any work begins.
- Government fees and statutory charges are billed at actuals.
- When you pay — upfront, in stages or on completion — is agreed in writing with the fee.
Questions about Company Statutory Audit.
Ready to discuss Company Statutory Audit?
30-minute confidential call — no proposal, no commitment. A partner will write back within one business day.