statutory-audit

Conducted for companies incorporated under the Companies Act or similar legislation. It includes auditing the financial statements and records of the company to ensure compliance with legal requirements and accounting standards.

Auditing the financial statements and transactions of cooperative societies, such as credit unions, agricultural cooperatives, and housing cooperatives. It ensures compliance with cooperative laws and regulations governing their operations.

Audit of banks and financial institutions to assess the accuracy and reliability of their financial statements, compliance with banking regulations, adequacy of risk management practices, and safeguarding of depositor funds.

Examination of insurance companies’ financial records and transactions to ensure solvency, compliance with insurance regulations, adequacy of reserves, and fair presentation of financial statements to policyholders and regulators.

Audit of government agencies, departments, and public sector entities to assess the efficiency, effectiveness, and economy of operations, compliance with laws and regulations, and proper use of public funds and resources.

Audit of taxpayers’ financial records and tax returns to verify compliance with tax laws, assess accuracy of reported income, deductions, and credits, and ensure payment of correct taxes to government authorities.

Examination of non-profit organizations’ financial statements and transactions to ensure transparency, accountability, and proper utilization of funds in accordance with their mission.

Audit of foreign companies operating in a country to assess compliance with local laws and regulations, including financial reporting requirements, taxation, and corporate governance standards.

Mandatory audit of publicly listed companies’ financial statements to provide assurance to investors, regulators, and other stakeholders regarding the accuracy and reliability of financial.

Planning and Preparation

Understanding the Business

Risk
Assessment

Data Collection and Analysis

Reporting and Communication

Follow-up and Resolution