Statutory &
Internal Audit
Services
Assurance. Compliance. Confidence.
We provide independent and objective Statutory & Internal Audit Services that ensure your business remains compliant with statutory requirements while strengthening internal controls and operational efficiency. Our audit approach follows the standards set by the Institute of Chartered Accountants of India, so every engagement is backed by recognized, up-to-date practice. Learn more about our full range of audit and assurance services.
- Ensure Compliance with Laws & Regulations
- Strengthen Internal Controls & Risk Management
- Improve Operational Efficiency & Transparency
- Build Stakeholder Trust & Business Credibility
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How Our Audit Process Works
A clear, four-stage engagement so you always know what's happening with your statutory or internal audit and why.
Discovery & Planning
We review your business structure, industry, and prior filings to scope the audit and agree on a timeline.
Fieldwork & Testing
Our team examines financial records, internal controls, and supporting documents against applicable standards.
Reporting & Review
Findings are compiled into a clear report, walked through with you before anything is finalized or filed.
Follow-up & Support
We help you act on recommendations and stay available for questions well after the engagement closes.
Frequently Asked Questions About Statutory & Internal Audit Services
Still have questions about how statutory and internal audits work? Here are answers to what business owners ask us most often before booking a consultation.
What is the difference between a statutory audit and an internal audit?
A statutory audit is a legally mandated, independent review of a company's financial statements, carried out to confirm they are accurate and comply with applicable laws and accounting standards. An internal audit, by contrast, is a voluntary, ongoing review of a company's internal controls, processes, and risk management, usually conducted to improve operational efficiency rather than to satisfy a legal requirement.
Is a statutory audit mandatory for every business?
Statutory audit requirements depend on your business structure, turnover, and applicable regulations. Companies registered under company law are typically required to undergo a statutory audit every financial year, while smaller proprietorships or partnerships may only need one once certain turnover or tax thresholds are crossed. Our team can review your specific situation and confirm exactly which statutory compliance requirements apply to you.
How often should internal audits be conducted?
Most organizations benefit from an internal audit at least once a year, though businesses in high-risk or highly regulated industries often schedule them quarterly or even continuously. The right frequency depends on your company's size, complexity, and risk exposure, and we can help you design an internal audit calendar that matches your operational needs.
What documents are required for a statutory audit?
A typical statutory audit requires financial statements, bank statements, ledgers, invoices, payroll records, tax filings, and supporting board resolutions or minutes. The exact list varies by industry and entity type, so our audit team provides a customized document checklist at the start of every engagement to keep the process efficient.
How long does a statutory or internal audit typically take?
Timelines vary with the size and complexity of the business, but most statutory audits are completed within two to four weeks once all documentation is provided, while internal audits can range from a few days for a focused process review to several weeks for a company-wide assessment. We agree on a clear timeline with every client before work begins.
Do you provide industry-specific audit services?
Yes. Our statutory and internal audit services are tailored to the regulatory and operational realities of different sectors, including manufacturing, retail, financial services, NGOs, and technology companies, so every recommendation reflects the standards and risks that actually apply to your industry.