Independent evaluation of an entity's financial statements to express an opinion on whether they present a true and fair view of its financial position, in accordance with Indian Accounting Standards and Companies Act 2013 requirements.
All registered Private Limited Companies, Public Limited Companies, and LLPs meeting statutory thresholds in India.
Formulating an audit plan, setting materiality thresholds, and performing risk assessment.
Testing transaction samples, verifying bank balances, and checking ledger compliance.
Discussing audit findings, adjustments, and accounting estimates with management.
Issuing the independent auditor's report containing our opinion.
Yes, statutory audit is mandatory for all registered companies in India, regardless of their turnover or capital.
Late filing of AOC-4 attracts daily penalties and can lead to prosecution of the directors under the Companies Act.
