Audit & Assurance / Statutory Audit
Statutory Audit Services
Partner-led statutory audits planned early and documented to stand up to stakeholder and regulatory scrutiny.
Overview
What this means in practice
Every company in India requires a statutory audit, but the experience depends entirely on how the audit is planned and reviewed. The statutory audit practice combines three decades of experience with current compliance awareness, so financial statements, disclosures and audit schedules are prepared to satisfy boards, bankers and regulators, not just to get a signature. Engagements are reviewed by partners, and observations come with closure priorities, not just findings.
Who this is for
- ✓Private limited companies of every size, from first audits to established groups
- ✓Family-owned and promoter-driven businesses across manufacturing and services
- ✓Subsidiaries and group entities reporting to parent companies
- ✓Growing SMEs preparing for bank funding or investor review
What we help with
Statutory audit under the Companies Act and applicable auditing and reporting standards
Pre-audit readiness review covering reconciliations, schedules and prior observations
Verification of revenue, expenses, assets, liabilities and statutory dues
Reporting on internal financial controls and other applicable disclosure requirements
Management letter with prioritised observations and remediation follow-up
Documents typically required
- ✓Trial balance, ledgers and finalised books of account
- ✓Bank statements with completed reconciliations
- ✓GST and TDS returns with books-to-returns reconciliations
- ✓Fixed asset register and additions or disposals during the year
- ✓Loan agreements, statutory registers and related-party transaction details
- ✓Prior year financial statements and audit observations
Common Questions
Questions clients bring to this practice
Are your books, schedules and reconciliations ready before the audit begins?
Do payroll, TDS and GST records match what the ledgers say?
Did last year's audit observations actually get closed?
Our Process
A structured CA-led process from records to resolution.
Plan the audit around your closing calendar and share a preparation checklist early
Review systems, controls and risk areas before detailed fieldwork begins
Test balances, transactions and disclosures with a clear, tracked list of open points
Conclude with the audit report, management observations and closure priorities
FAQs
Common questions, answered plainly
How long does a statutory audit take?
For a well-prepared SME, fieldwork typically runs from a few days to a couple of weeks depending on size and complexity. Most delays come from incomplete reconciliations and missing documentation, which is why we share a readiness checklist well before fieldwork.
When should we appoint the auditor and start planning?
As early in the year as possible. Early appointment lets reconciliations and schedules be maintained through the year instead of being rebuilt at year-end, which shortens the audit and improves its quality.
Can you help us get the books audit-ready first?
Yes. Our bookkeeping team can bring ledgers, reconciliations and schedules to audit-ready condition, with the clean-up and audit roles kept appropriately separated where independence rules require.
What happens to the observations you raise?
Observations are delivered with practical closure priorities, discussed with management and tracked into the next year. We treat an observation reported twice as a process failure, ours or yours.
Do you audit companies located outside Andheri or Mumbai?
Yes. The firm is based in Saki Naka, Andheri East, but we serve clients across Mumbai and beyond, combining on-site fieldwork with remote document review where that is efficient.