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Statutory Audit Services

A statutory audit is a legally required audit of a company's financial statements. Acculex provides thorough, independent statutory audits conducted by qualified Chartered Accountants.

Overview

What is a Statutory Audit?

A statutory audit is a mandatory examination of financial records of a company or entity as required by law. Unlike internal audits, it is conducted by an independent external auditor.

Under the Companies Act 2013, every company — whether private, public, or OPC — must get its financial statements audited by a practicing Chartered Accountant. The audit report is required for annual ROC filing and income tax return filing.

Who Requires Statutory Audit?

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All registered companies (Private Limited, OPC, Public Limited)

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LLPs with turnover above ₹40 lakh or contribution above ₹25 lakh

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Trusts and societies receiving foreign contribution (FCRA)

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Co-operative societies with prescribed thresholds

Audit Report Types

Unqualified (Clean) Opinion

Financial statements give a true and fair view — no material misstatements.

Qualified Opinion

Financial statements are fairly presented except for specific matters.

Adverse Opinion

Financial statements do not give a true and fair view.

Disclaimer of Opinion

Auditor is unable to express an opinion due to limitation in scope.

Process

How It Works

Simple, transparent, and fully online — we make compliance easy.

1

Engagement Letter

Formal appointment of auditor and agreement on scope, fees, and timeline.

2

Document Collection

Collection of books of accounts, ledgers, bank statements, invoices, and previous audit reports.

3

Audit Planning

Risk assessment and preparation of audit program tailored to the company's operations.

4

Fieldwork

Verification of transactions, physical verification of assets, confirmation of balances, and analytical procedures.

5

Management Representation

Obtaining written representations from management on key matters.

6

Audit Report

Finalization and signing of audit report along with financial statements for MCA/ITR filing.

FAQ

Frequently Asked Questions

Everything you need to know before getting started.

When must the statutory audit be completed?â–¾
For companies, the audit must be completed before the Annual General Meeting (AGM), which must be held within 6 months of financial year end.
Can the same CA be the statutory auditor for more than 5 years?â–¾
For listed companies, an auditor can be appointed for one term of 5 years. For unlisted companies, a CA firm can continue as auditor without a specific rotation requirement (individual CAs have a 5-year limit).
What are the penalties for not conducting a statutory audit?â–¾
Under Section 147 of the Companies Act 2013, the company and every officer in default are liable to a fine of ₹25,000 to ₹5 lakh.
Does Acculex provide audit for small companies too?â–¾
Yes, we provide cost-effective statutory audit services for companies of all sizes, including small private limited companies and OPCs.

Book Your Statutory Audit Today

Independent, thorough, and compliant statutory audits by experienced Chartered Accountants.

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Statutory Audit Services India | Audit & Assurance | Acculex
📧 info@acculex.in  |  📞 +91 97370 65553
ITR Filing for AY 2025–26 is Open! Get a Quote