Audit & accounts
Statutory Audit in Delhi NCR
A statutory audit gives your financial statements credibility with banks, investors and the Registrar. Our Chartered Accountants audit companies, LLPs and trusts with a practical, risk-focused approach.
- Chartered Accountant led
- Written scope and fee before we start
- Delhi NCR, Haryana and Uttar Pradesh
What is a statutory audit and who needs it?
A statutory audit is an independent examination of a company's books by a Chartered Accountant, required by law. Every company registered under the Companies Act, 2013 must get its accounts audited every year, regardless of turnover. An LLP needs an audit above prescribed turnover or contribution limits.
Guide
Statutory Audit: what you should know
Who needs a statutory audit
Every company, including a one-person company or a small private company, must have its accounts audited each year under the Companies Act. LLPs are audited when turnover or contribution crosses the prescribed limits. The auditor gives an independent opinion on whether the financial statements give a true and fair view.
How the audit runs
The auditor is appointed at the first board meeting and then at each AGM for the term allowed. We plan the audit, test balances and controls, check compliance with accounting standards and report on matters required by law. Clean books and early document sharing shorten the audit.
What you should prepare
Trial balance, bank statements and reconciliations, fixed asset register, debtors and creditors lists, loan confirmations, GST and TDS reconciliations, and payroll records. Gaps found late are the main cause of delay, so we start the bookkeeping review before year end.
Common mistakes to avoid
- Starting preparation after year end
- Unreconciled bank and GST balances
- Missing the auditor appointment filing (ADT-1)
- Related-party transactions not documented
Who it is for
Who needs Statutory Audit?
Private Limited and Public Limited companies
LLPs above the audit limits
Section 8 companies, trusts and societies
Subsidiaries of foreign companies
Documents required for Statutory Audit
- Trial balance and ledgers for the year
- Bank statements and loan confirmations
- Sales, purchase and expense records
- Fixed asset register and stock records
- Previous year's financial statements and filings
Timeline and fees
Typically 2 to 4 weeks after the books are ready.
The fee depends on the scope, the volume of work and the timeline. We share a written scope and fee before we start, and there are no hidden charges.
Our process
How we handle Statutory Audit
Every step is handled by our team, with updates at each stage.
- 1
Appointment
Auditor appointed and ADT-1 filed where applicable.
- 2
Planning
Scope, risks and timelines agreed.
- 3
Fieldwork
Books, vouchers, confirmations and controls tested.
- 4
Reporting
Draft financials and audit report discussed with management.
- 5
Sign-off
Final audit report issued, ready for ROC filing.
FAQ
Statutory Audit: frequently asked questions
Is an audit mandatory for a small Private Limited company?
Yes. Every company must appoint an auditor and get its accounts audited, even if the company has no turnover.
Who can be the statutory auditor of a company?
Only a practising Chartered Accountant or a firm of Chartered Accountants, subject to the independence and eligibility rules.
What is the difference between a statutory audit and a tax audit?
A statutory audit is under the Companies Act and reports on true and fair view. A tax audit is under income tax law and reports on tax compliance.
When should the audit be completed?
Before the Annual General Meeting, which must be held within six months of the financial year end, so that AOC-4 and MGT-7 can be filed on time.
Is audit mandatory for a company with no turnover?
Yes, a company must still be audited and file its financial statements.
Is statutory audit the same as tax audit?
No. Statutory audit is under the Companies Act. Tax audit is under the Income-tax Act and applies above set limits.
Can the same CA do both?
Yes, in the usual case, within the independence rules.
Where we work
Statutory Audit across Delhi NCR, Haryana and Uttar Pradesh
Our offices are in Sector 62, Noida and Sector 67, Gurugram. We serve clients in these cities in person and online.
Related services
More services you may need
Tax Audit
Tax audit report for businesses and professionals above the prescribed limits.
Learn moreAnnual Compliance for Private Limited Company
AOC-4, MGT-7, ADT-1, DIR-3 KYC, DPT-3, income tax return and board compliance each year.
Learn moreROC and MCA Compliance
ROC filings, director changes, XBRL, dematerialisation, strike-off and revival of companies.
Learn moreAccounting and Bookkeeping
Monthly bookkeeping, payroll support, MIS reports and financial statements.
Learn moreGet in touch
Talk to a Chartered Accountant about Statutory Audit
Share a few details and we will reply within one working day with the scope, timeline and fee.
- Phone+91-9278813303
- Emailinfo@cadeoassociates.com
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