Company Audit Service in Ahmedabad
Looking for a professional auditor for your company audit? Legal Adda is a trusted consultancy offering Company Audit Services in Ahmedabad, Gujarat, India. We provide qualified Chartered Accountants (CAs) across all major cities in India to conduct Statutory Audits for Private Limited Companies, LLPs, Public Limited Companies, Branch Offices, and more.
Under the Companies Act, every company is required to have its books of accounts audited by a Chartered Accountant. Even a Private Limited Company with no financial transactions must still submit its audit report to the Registrar of Companies (ROC) as part of the mandatory MCA audit process.
Company Statutory Audit Service in Ahmedabad
All entities registered as a company under the Companies Act must undergo a Statutory Audit. Legal Adda offers reliable and efficient Company Statutory Audit Services in Ahmedabad and across Gujarat.
A statutory audit is mandatory for every company — there are no exceptions or exemptions. Only Chartered Accountants in practice are authorized to be appointed as statutory auditors.
With a network of over a hundred experienced Chartered Accountants, Legal Adda ensures seamless and compliant audit services for Private Limited Companies, Public Limited Companies, One Person Companies (OPCs), and Limited Liability Partnerships (LLPs).
Is Statutory Audit Mandatory for All Companies (Pvt. Ltd./LLP/Limited Company)?
Yes, statutory audit requirements vary based on the type of entity, as outlined below:
- Public Limited Company: Audit is compulsory.
- Private Limited Company: Mandatory audit, even if there is no turnover or business activity.
- One Person Company (OPC): Audit is mandatory.
- Limited Liability Partnership (LLP): Audit is required if annual turnover exceeds ₹40 lakhs.
- Section 8 Company: Audit is compulsory.
- Banking, Insurance, and Government Companies: Audit is required as per the relevant laws.
What’s Included in Our Statutory Audit Services:
- Appointment of Auditor in the company.
- Verification of books of accounts and financial records.
- Preparation and finalization of the audit report.
- Support for clarifications and queries during the audit process.
- Filing of MCA annual forms and related compliance documentation.
- Comprehensive assistance with all general audit-related requirements.
Process of Company/LLP Audit
Step 1: Make an Inquiry
Get in touch with us for your Company Statutory Audit.
Share your company details, and our representative will contact you to assist with the appointment of an auditor for your company.
Step 2: Auditor Appointment
Our team will handle the auditor appointment process by filing the necessary forms with the Ministry of Corporate Affairs (MCA) to officially appoint a Chartered Accountant for your company.
Step 3: Books of Accounts
Provide the complete books of accounts and relevant financial information to the assigned Chartered Accountant.
Once the audit begins, the auditor will review all financial records and supporting documents as part of the audit procedure.
Step 4: Query Resolution
After reviewing the records, the Chartered Accountant may issue a list of queries or observations.
The company must address and resolve these queries to ensure a smooth completion of the audit.
Step 5: Audit Report
Following the completion of the audit, the auditor will issue an independent audit report containing their opinion on the company’s financial statements.
This marks the completion of the audit for the respective financial year.
Step 6: RoC Filings
In the final stage, the audit report and financial statements are filed with the Registrar of Companies (RoC) and uploaded to the MCA portal, completing the statutory compliance process.
Disclaimer: The content on this website is for informational purposes only and does not constitute legal, financial, or professional advice. Please consult qualified experts before acting on any information. K M GATECHA & CO LLP accepts no liability for errors, omissions, or outcomes from the use of this content. This site is not an advertisement or solicitation.
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Frequently Asked Questions (FAQs)
1. What is a company audit?
A company audit is a detailed examination of a company’s financial statements and accounting records by a qualified Chartered Accountant (CA) to ensure accuracy, compliance, and fairness as per the Companies Act, 2013.
2. Is a company audit mandatory for all companies?
Yes. Every company registered under the Companies Act — including Private Limited Companies, Public Limited Companies, One Person Companies (OPCs), and Section 8 Companies — must undergo a statutory audit, even if there is no business transaction or turnover during the year.
3. Is audit required for LLPs (Limited Liability Partnerships)?
Yes, but only if the turnover exceeds ₹40 lakhs or the capital contribution exceeds ₹25 lakhs in a financial year.
4. Who can conduct a company audit?
Only a practicing Chartered Accountant (CA) or a firm of Chartered Accountants can be appointed as the statutory auditor of a company.
5. What is the purpose of a statutory audit?
A statutory audit ensures that a company’s financial statements reflect a true and fair view of its financial position. It also verifies compliance with legal and regulatory requirements under Indian corporate law.
6. How often should a company audit be conducted?
A statutory audit must be conducted annually, covering the company’s financial statements for each financial year.
7. Can a company choose any CA for the audit?
Yes, a company can appoint any independent Chartered Accountant or CA firm in practice, provided they meet the eligibility criteria set by the Companies Act.
8. What are the main documents required for a company audit?
Key documents include:
- Books of accounts and ledgers
- Bank statements and reconciliations
- Purchase and sales invoices
- Expense records
- Fixed asset details
Previous year’s audit report and financial statements
9. How long does it take to complete a company audit?
The duration depends on the size of the company, volume of transactions, and accuracy of financial records. Typically, it can take anywhere from a few days to a few weeks.
10. What happens after the audit is completed?
Once the audit is completed, the auditor issues an independent audit report with their opinion on the financial statements. This report must be filed with the Registrar of Companies (RoC) along with the annual financial statements on the MCA portal.
11. Is an audit required even if the company is inactive or has no transactions?
Yes. Even if a company has no business activity or zero turnover, it is still required to conduct an annual statutory audit and submit the audit report to the RoC.
12. What penalties apply if a company fails to conduct an audit?
Failure to comply with audit requirements may lead to penalties for both the company and its directors, including monetary fines and disqualification from directorship, as per the Companies Act, 2013.
13. Does Legal Adda provide company audit services outside Ahmedabad?
Yes. While Legal Adda is based in Ahmedabad, it provides company audit and compliance services across India through its network of experienced Chartered Accountants.
