AUDIT & ASSURANCE SERVICES
Statutory audit services in India are a legal requirement for companies under the Companies Act, 2013 — and a critical trust signal for investors, lenders and regulators. As a specialist company statutory audit firm, AAPT & Associates delivers independent, accurate and deadline-compliant audits.
A statutory audit is a legally mandated independent examination of a company's financial records to verify that the financial statements present a true and fair view of the company's financial position. It is called "statutory" because it is required by statute — specifically the Companies Act, 2013 — and must be conducted by a qualified Chartered Accountant who is independent of the company.
Unlike an internal audit (which is an operational tool for management), a statutory audit is an external, regulatory requirement whose primary purpose is to protect shareholders, lenders and the public by ensuring financial statements are reliable and free from material misstatement.
Beyond legal obligation, statutory audit compliance plays a critical role in your company's credibility and access to capital. Banks and NBFCs require audited financials before sanctioning loans. PE and VC investors insist on clean audit reports as a condition of investment. And regulators use audit reports to assess tax compliance and governance quality.
Choosing the right statutory auditor for your company matters because:
All companies incorporated under the Companies Act, 2013 require statutory audit services in India — including:
Additionally, companies in certain sectors (banking, insurance, listed entities) have enhanced audit requirements under sector-specific regulations.
As a full-service company statutory audit firm, AAPT & Associates covers every aspect of the statutory audit engagement:
Independent examination of Balance Sheet, P&L, Cash Flow Statement and Notes to Accounts — verifying accuracy, completeness and compliance with Ind AS / AS.
Assessment of your internal financial controls (IFC) under Section 143(3)(i) of the Companies Act — identifying weaknesses and recommending improvements.
Statutory audit under Section 44AB of the Income Tax Act — mandatory for businesses with turnover above the prescribed limits, filed along with income tax return.
Companies (Auditor's Report) Order reporting — covering fixed assets, inventory, loans, internal audit, statutory dues, fraud reporting and other prescribed matters.
Issuance of the Auditor's Report with UDIN (Unique Document Identification Number) — mandatory for all CA-signed documents from FY 2019-20 onwards.
Assistance with filing of audited financial statements (AOC-4, MGT-7) with the MCA within the prescribed deadlines — avoiding late-filing penalties.
Formal appointment of AAPT as statutory auditor via Board Resolution and ADT-1 filing. We then plan the audit scope, materiality thresholds, risk areas and timeline.
Review of internal controls, transaction testing and compliance checks conducted during the financial year — so year-end is efficient rather than a last-minute scramble.
Physical verification of assets, stock, debtors and creditors confirmation, bank reconciliation, related-party transaction review and detailed vouching of transactions.
We share draft observations, qualifications and management letter points with your team — allowing you to address issues before the final report is issued.
Issuance of the signed Auditor's Report with UDIN, followed by support for AOC-4 and MGT-7 filing with MCA within the statutory deadline.
AAPT & Associates is a Noida-based CA firm with 10+ years of experience delivering statutory audit services in India to private limited companies, foreign subsidiaries, Section 8 entities and LLPs across sectors. Our audit team combines technical depth with practical efficiency — we understand that a statutory audit should add value, not just tick a compliance box. Every engagement includes a management letter with actionable observations, not just a standard audit report.
A statutory audit is a legally required independent examination of a company's financial statements under the Companies Act, 2013. It must be conducted by a qualified, independent Chartered Accountant and the auditor's report must be filed with the MCA as part of annual compliance. Statutory audit services in India are mandatory for all registered companies regardless of turnover.
Only a practicing Chartered Accountant (CA) or a firm of CAs holding a valid Certificate of Practice from the ICAI can act as a statutory auditor for a company in India. The auditor must be independent — they cannot hold any financial interest in the company or be related to any director or officer.
The audited financial statements must typically be filed with the MCA (via AOC-4) within 30 days of the Annual General Meeting (AGM). The AGM must be held within 6 months of the financial year end — making the effective deadline 30 September for most companies with a 31 March year-end. Tax audit (Form 3CD) is due by 30 September under the Income Tax Act.
Under the Companies Act, 2013, failure to comply with statutory audit compliance requirements can result in fines on the company (up to ₹25,000) and on every officer in default (up to ₹5 lakh), director disqualification, and in serious cases, prosecution. Late MCA filings also attract additional fees per day of delay.
A statutory audit is an external, legally mandated audit by an independent CA — its primary audience is shareholders, regulators and lenders. An internal audit is an operational tool for management — conducted continuously to improve controls and efficiency. Both are important but serve entirely different purposes.
For most small and mid-sized private limited companies, a statutory audit takes 2 to 6 weeks after books are finalised and audit documentation is ready. Companies with complex structures, multiple locations or high transaction volumes may require longer. Engaging a company statutory audit firm early — ideally in Q3 of the financial year — ensures interim work is done and year-end is completed on time.
Early engagement means a smoother audit, cleaner books and zero last-minute surprises. Talk to our audit team today.
