Statutory Audit Services
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At K M GATECHA & CO LLP we have statutory auditor having knowledge of auditing providing best statutstandards, business in ahmedabad.Basic objective of statutory audit is to provide qualitative,trustworthy and clear financial statement to the users of the financial statements that is the stakeholders of the company.Being statutory audit firm in ahmedabad we not only believe in providing quality audit services through our external audit services in ahmedabad but also work to adding of value to financial statements by carrying out audit in accordance with statutory requirements.
Best Statutory Audit services in Ahmedabad
Statutory audit firm in Ahmedabad
Legal review of the company’s or government financial records and financial statements. Analysis of financial records and statement of the company and its examinations is called audit.K M GATECHA & CO LLP is known for Best Statutory Audit services in Ahmedabad.
A company’s financial statements must provide the required clarity and quality and create an atmosphere of trust in the minds of readers.We statutory audit firm in ahmedabad have Statutory Auditor in Ahmedabad who have a deep understanding of regulatory requirements, business challenges and technical knowledge of local and international accounting and auditing standards to provide best statutory audit services in Ahmedabad. We believe that through our external best audit services in Ahmedabad, audits are conducted in a free and fair manner in accordance with regulatory requirements, thereby adding value by increasing the transparency of a company’s financial statements.
What is meant by statutory audit?
A statutory audit, also called an external audit, is an audit mandated by a specific statute or law to ensure that an entity’s financial statements give an accurate picture of its situation and its profitability. Statutory audits are governed by the Companies Act 2013 and the Companies (Auditors and Auditors) Rules 2014.
The extent of statutory audits is largely determined by guidelines and regulations set by government. Being statutory audit firm in Ahmedabad our statutory auditor carefully review the financial statements and accounts of the organization to avoid inconsistencies or any possible misrepresentation and to ensure reliability.
The Companies Act 2013 makes it mandatory that the accounts of every company are audited by chartered accountants in practice. This auditor is called a business auditor and this activity is called a business audit. When carrying out a statutory audit, the provisions of the CARO must be observed. K M GATECHA & CO LLP developed a comprehensive audit plan and strictly adhered to it during the audit to identify key observations and recommendations to improve productivity while achieving results.
First of all, we determine the relevance of Ind-AS or not.
In general, Ind-AS applies to the following entities.
1) All listed companies.
2) Unlisted companies whose net assets are greater than or equal to Rs. 2.5 billion.
All parent companies, subsidiaries, associates and joint ventures of the companies in points 1 and 2 above. Once the IND AS applies, entities should be required to comply with the IND AS in all subsequent financial statements.
Why choose K M GATECHA & CO LLP as statutory audit firm?
We, K M GATECHA & CO LLP are a Statutory Audit Services Company, Tax Audit Services Company and Consultants in India with a dynamic team of Professionals and Statutory Auditors who understand the sole purpose of Audit Services. statutory audit in India which is whether a If the financial statements of the organization represent a true and fair view. We have a comprehensive list of statutory audits to perform audit services which are too specific for each industry of manufacturing, trading, e-commerce, e-commerce as well as service companies in India.
Our auditors have in-depth subject matter knowledge and experience to provide the best auditing services. They understand various industries and the challenges faced by companies operating in these industries. We allocate audit resources based on client and industry profile to ensure audits are performed by people with in-depth knowledge of your industry. We keep them informed by investing heavily in their training and development. We organize weekly meetings with our partners and auditors to exchange ideas and challenges and improve our collective expertise.
Our Other Services
CA Firm in ahmedabad
Being the best ca firm in Ahmedabad we provide CA services all over India. We have our associates spread over many cities.
We as the best tax consultant in Ahmedabad, india provide tax consultancy including direct and indirect tax consultancy.
Audit Firm in ahmedabad
We provide bank audits, stock audits, forensic audits, statutory audits, concurrent audits, tax audits, internal audits, information system audit services.
Accounting firm in ahmedabad
We provide bookkeeping, accounting, tally accounting, zero accounting, quick book accounting, Zoho accounting services.
Our GST services include GST registration, GST payments, GST refunds services,e way bill consultant, GST return, GST classification, GST compliances, etc.
Chartered Accountant In Ahmedabad
We as the most-trusted chartered accountant in Ahmedabad provide all chartered accountant services under one roof.
We provide tax accounting services for effective tax planning and making tax provisions.
Income Tax Services In Ahmedabad
We provide income tax audits, income tax return filing, corporate income tax services, etc.
Faqs on statutory audit
There are several types of audits. Audits can be internal or external. However, while internal audit reports and findings are shared within company management, external audit findings must be shared with external entities such as government agencies.
An auditor is an external audit that must be performed on a company’s financial statements and records by an external entity. Since legal audits are mandated by law or statute, they should be performed by professionals who understand the principles and ethics of the governing body.
Auditors will review bank statements, ledgers, accounting records and other financial documents filed for tax purposes.
There are several types of statutory audit, either through the Companies Act 2013 and the Companies (Auditors and Auditors) Rules 2014 or through other legal frameworks. Some of these statutory audits are-
1) The Securities and Exchange Board of India prescribes audits of stock brokers and credit rating agencies.
2) The National Health Mission requires a concurrent internal audit.
3) The Telecom Regulatory Authority of India has ordered an audit of billing and metering.
Statutory audits are important to businesses for the following reasons –
Compliance with the law – Under the Companies Act 2013 and the Companies (Auditors and Auditors) Rules 2014, the law allows all businesses to undertake a legal audit of their deposits and financial documents. The government can impose heavy fines for non-compliance.
Authenticity – Having a forensic audit is important for businesses as it increases the authenticity of financial reports as they are verified by experienced and qualified auditors
Minimize Fraud Risk – By performing a forensic audit, the risk of fraud in an organization can be reduced as it is able to detect all discrepancies and redundancies in financial statements.