Introduction
Statutory audits are a legal requirement for companies operating in India under the Companies Act, 2013. They play a crucial role in ensuring financial transparency, compliance with laws, and maintaining stakeholder trust. PK Chopra & Co., a leading Chartered Accountancy firm in India, specializes in delivering accurate and compliant statutory audit services for businesses across sectors.
What is a Statutory Audit?
A statutory audit is a mandatory audit of a company’s financial records to ensure accuracy and compliance with regulatory norms. It is governed by the Companies Act, 2013, and is compulsory for:
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All companies with an annual turnover exceeding prescribed limits
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Private limited companies with paid-up capital over ₹1 crore
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Public limited companies, irrespective of turnover
The statutory audit ensures that the financial statements represent a true and fair view of the company’s financial position.
Why Statutory Audits are Important in India
1. Regulatory Compliance
A statutory audit ensures that a company complies with the Companies Act and other applicable laws.
2. Investor Confidence
Audited financial statements give investors and stakeholders confidence in a company’s financial integrity.
3. Fraud Detection
Regular statutory audits help identify financial irregularities, preventing fraud and mismanagement.
4. Business Credibility
Comprehensive audits enhance the credibility and reliability of a business in the eyes of banks, investors, and regulatory bodies.
PK Chopra & Co. – Expert Statutory Audit Services in India
With decades of experience in the field of audit and assurance, PK Chopra & Co. is a reputed name among businesses looking for reliable statutory audit services in India.
Our Audit Process Includes:
✅ Understanding the business structure and operations
✅ Reviewing internal control systems
✅ Verifying accounting records and vouchers
✅ Assessing compliance with statutory requirements
✅ Preparing detailed audit reports
Why Choose PK Chopra & Co.?
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Qualified Chartered Accountants with deep domain knowledge
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Technology-enabled audit tools for accuracy and efficiency
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Tailored audit plans for diverse industries
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Transparent audit reporting with actionable insights
Industries We Serve
PK Chopra & Co. offers statutory audit services to a wide array of sectors, including:
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Manufacturing
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Real Estate
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Retail & E-commerce
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IT & Software
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Healthcare
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NGOs & Educational Institutions
Our Commitment
At PK Chopra & Co., we are committed to upholding the highest standards of audit quality, confidentiality, and professionalism. Whether you are a startup or an established enterprise, our team ensures your statutory audit is conducted smoothly and in compliance with Indian regulations.
Frequently Asked Questions (FAQ)
1. What is the difference between a statutory audit and an internal audit?
A statutory audit is legally required and focuses on financial accuracy and compliance. Internal audits, on the other hand, are conducted voluntarily to assess internal controls and operational efficiency.
2. Who is required to get a statutory audit in India?
Any company registered under the Companies Act, 2013, including private and public limited companies with specified thresholds of turnover or paid-up capital, must undergo a statutory audit.
3. What documents are required for a statutory audit?
Documents include the balance sheet, profit and loss account, general ledger, bank statements, tax filings, and relevant statutory registers.
4. How long does a statutory audit take?
The duration depends on the company’s size and complexity, but on average, it may take anywhere between 2 to 6 weeks.
5. Why should I choose PK Chopra & Co. for statutory audit?
PK Chopra & Co. brings decades of experience, industry-specific expertise, and a client-centric approach, ensuring efficient and compliant audits with minimal disruption to your operations.
Conclusion
A statutory audit is not just a compliance requirement—it’s a strategic tool that fosters trust, prevents risks, and strengthens corporate governance. With PK Chopra & Co., you get more than just auditors—you gain a proactive financial ally. Contact us today to ensure your business remains audit-ready and fully compliant.
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