Statutory audit is a legally required examination of the accuracy of an entity’s or organization’s/company’s or government’s financial statements and records as per statutes applicable to it. The purpose of a statutory audit is to determine whether an entity/organization provides a fair and accurate representation of its financial position by examining information such as bank balances, bookkeeping records, and financial transactions.
- A Statutory audit is an examination of records held by an organization, business, government entity, or individual, which involves the analysis of financial records or other areas.
- The purpose of a financial audit is often to determine if funds were handled properly and that all required records and filings are accurate.
- Firms that are subject to audits includes public companies, banks, brokerage and investment firms, insurance companies, certain Charities and other entities that meet certain criteria as per applicable statue.
WHY GAB & ASSOCIATES?
- Our unique approach and methodology, varied industry experience spread over 13 years and in-depth technical knowledge enables us to adequately validate the information, assumptions and estimates represented in financial statements to consistently deliver quality audit.
- Constant improvement programs initiated by us help our clients to prepare for forthcoming changes in accounting rules, regulation and standards. Our management letter highlights various aspects of operations including robustness of accounting systems.
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