Statutory Audits

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Statutory Audit

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In India, various laws and regulatory bodies like Reserve Bank of India, Income Tax, Companies Act etc. establish the requirement and provisions of statutory audit. Only A Chartered Accountant in practice is authorised to conduct the statutory audit.

  • Statutory Audits of Banks

    Reserve Bank of India has made statutory audits of banks compulsory. For this, RBI appoints the auditors in association with ICAI. Especia Associates adopts a rigorous audit approach to put emphasis on the important areas like cash verification procedure, treatment of tax related aspects and thorough verification of loan accounts.

  • Statutory Audits of Companies

    Companies Act 2013 makes it compulsory for every company to get its accounts audited by a chartered accountant in practice. Provisions of Company Audit Report Order (CARO) have to be taken into consideration while doing the statutory audits. Especia Associates prepares an extensive audit plan and strictly adheres to it during the audit to identify the key observations and advice to enhance productivity and achieve results at the same time.