Client one-pager, statutory audit

Statutory audit — what it is and why you need it

What it is. Every company registered in India must have its annual accounts examined by an independent chartered accountant and must place that opinion before its shareholders. We examine your books, test the numbers against independent evidence, and give a signed opinion on whether your financial statements give a true and fair view of your company's position at the year end and its profit or loss for the year. It is a legal requirement, not an option, and your company cannot hold its annual general meeting or file its accounts without it.

What we need from you. Closed books and a final trial balance; your ledgers in electronic form; bank statements and reconciliations for every account; your stock records and the results of your year-end stock count; your loan sanction letters; your GST and TDS returns; board and shareholder minutes; and draft financial statements in the prescribed format. We will send a full list, item by item, with the dates each is needed.