A company needs to formulate a financial statement for the 31st of March every year. Financial statement as such gives an accurate value of the company’s state of affairs and need to comply with the standard of the accounting as the central government notified under the Companies Act section 133. The statutory financial statement should be formulated in the form and format as prescribed for a specific company type. For Instance, schedule VI is a suitable form, a private limited company needs.
Key Takeaways Statutory Audit
Statutory Audit Applicability
Who Can Be Appointed as a Statutory Auditor?
A practicing Chartered accountant firm or chartered accountant or LLP can only be appointed as a statutory auditor of a company.
How ASC can help?
At ASC an elite team of qualified auditors is designated to do such audits. Our Statutory Audit Services provides reasonable assurance to all the stakeholders that the subject matter is free from material misstatement and present a True and Fair view, which helps effectively evaluate and improve the effectiveness of risk management, control, and governance process over the subject matter.