J P Chawla & Co. LLP

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We’re eager to work with you on your journey to growth and business success.

What we have found most pleasing in our relationship, is the team constant effort of offering us the opportunity to save time, plus your team awareness in the changes that constantly take place where taxes are concerned. Also, your team is always happy to assist us when we have a problem or need assistance. We feel very comfortable when dealing with your team and see our relationship widening as our business grows.

Pipeline Inspection
Germany & Netherlands

Statutory Audit

Statutory Audit

In the area of business transparency and regulatory adherence, statutory audits are imperative for entities like companies and Limited Liability Partnerships (LLPs) in India. These audits are mandated by various statutory acts, including the Companies Act, 2013 & LLP Act 2008, to ensure financial accountability and compliance.

Statutory audits go beyond financial statements examination; they audit an organization’s financial records, transactions, and internal controls to validate their accuracy and legality. By doing so, they foster transparency, instil investor and stakeholder confidence, and contribute to the overall integrity of corporate financial reporting. This not only fulfils a legal requirement but also bolsters the credibility of businesses.

Independent Statutory Audit Statutory Audit

In India, Independent Statutory Audits follow ICAI SA’s, ensuring impartiality, compliance with ethical principles, and upholding financial reporting integrity. Adhering to Schedule III of the Companies Act, statutory audits provide a comprehensive report, including CARO reporting when applicable. Chartered Accountants not only certify financial statements but also offer valuable improvement recommendations, emphasizing unbiased assessment and meticulous adherence to auditing standards for companies.

 

Statutory Audit Service | JPC & Co.
Ready to Take the Next Step?

We’re eager to work with you on your journey to growth and business success.

Our Statutory Audit Services

Our Statutory Audit Services

Approach

Our audit approach helps an organisation exercise their fiscal and compliance obligations prudently and with circumspection. We have standard audit methodology which we follow for statutory audit clients.

Quality

Our firm’s internal quality standards in our audit engagements helps us to maintain high standards of statutory auditing services. The approach includes compliance with principals of SQC-1.

Peer Review

Objective of Peer Review is to ensure (a) comply with Technical, Professional and Ethical Standards as applicable and (b) have in place proper systems including documentation thereof. ICAI has mandated peer review for each firm registered with it.

Technology

For documentation and standardised work papers we use software like CaseWare, we use Microsoft tools extensively for data exchange, communication and storage.

How We Provide Statutory Audit Services

How We Provide Statutory Audit Services

Industry Specialization

Our allocated audit teams come equipped with deep domain knowledge tailored to auditee industry, ensuring quality of audit processes.

Tools & Techniques

We Leverage audit technology and methodologies such as CaseWare, to ensure standard audit quality across all our audit engagements.

Ethical Standards

We follow highest standards of integrity, ethics and confidentiality.

Continuous Training

Our auditors regularly undergo training to stay abreast of the latest regulatory changes and audit best practices.

Compliance with Standards

We ensure compliance with prescribed Standards on Auditing" (SAs) in case of statutory audit and various guidance notes issued by the institute of chartered accountants of India.

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High quality Audit and attestation services are required under various statutory acts and regulations which are applicable in Indian regulatory environment.