Statutory Audit applies to all companies registered under Companies Act (Private Limited Company, One Person Company, Limited Company, Section 8 Company, Nidhi Company, Producer Company) irrespective of nature of business and sales turnover. Statutory audits must be completed by qualified Chartered Accountants who are independent of the Business.
Thus, the Board of Directors of the Company must appoint an Auditor within 30 days of incorporation and thereafter conduct an audit of its financial statements each financial year
Statutory audit also applies to Limited Liability Partnership (LLP) if it has an annual turnover of Rs 40 lacs or more or Rs 25 Lacs or more capital contribution. However it is advisable to the partners of limited liability partnership to get the accounts of their LLP audited even if the turnover or capital contribution criteria is not met.
Our firm uses latest audit approach which helps us achieve better results and detailed reports for management and stakeholders. Our firm has experience in conducting statutory audits effectively in following type of entities.
H Thakur and Company has delivered quality services with an emphasis on knowledge, research, experience and professionalism.