Statutory Audit

Want to avail our Statutory Audit Services?

At Profaides , We  believe in offering qualitative value added services encompassing a comprehensive review of all Statutory Audit  records along with our recommendations on strengthening internal controls for appropriate data entry, data recording, data analysis and data requirements for compliance.  

Statutory Audit

A statutory is another name of a financial audit. It is essentially an audit of the final statements of a company, i.e. the profit and loss and the balance sheet. The purpose of a statutory audit is to ensure that these accounts of the company represent a fair and accurate picture of the company’s current financial position on the date of the balance sheet.

It is important that we understand the need for a statutory audit to be carried out. In case of a company, the owners of the company are the shareholders. However, they do not run or manage the day to day affairs of the company. This is done by the board of directors and the management of the company.

If you are looking for any of the Statutory Audit services or Auditor Firms in Noida, Delhi, Gurgaon, NCR or any other part of India , You can write to us pbcnoida@gmail.com

 

So the shareholders need assurance that the accounts maintained and published by the company are authentic and genuine. This is why the law requires that an independent auditor to conduct a statutory audit.

The independent auditor has full authority to check the financial records of the company and publish his findings via an auditor’s report. The shareholders and owners of the enterprise can then be assured of the authenticity and reliability of the financial statements.

Other stakeholders like creditors, employees, potential investors etc also benefit from the statutory audit. They too can base their decisions on these accounts, since they are authentic.

Generally, there are two types of files in case of recurring audits in India:

A) Permanent Audit Files means where we keep all the structural records of the company. This starts from Auditor appointment papers, All the documents relating to the previous auditor , All the records of Organization key documents including details of ownership, All the legal documents , All the previous audited financials as well all the SOPs & related systems & procedures for the entity & a lot of others. 

B) Current Audit Files means where generally records related to the current audit period are kept. This includes all the Resolutions and minutes of the current period, Entire audit planning and the current program, All the working papers for audit including balance confirmations, All the statements and reconciliations, Compliance status records & all other working papers used in the audit. 

Why choose us for Audit Services ?

We, at Prof-aides have dynamic team of professionals & Statutory Auditors  who understand the sole purpose of  Statutory Audit services in India which is to understand whether an organization’s financial statements represent a true and fair view or not. We have our complete  statutory audit check list in place to perform audit services and that too specific for each of the industries from manufacturing, trading, online, E commerce as well as Service Companies in India.