Why Every Business Needs a Statutory Audit

Why Every Business Needs a Statutory Audit

Introduction:

In India, statutory audits are not just a legal requirement — they are a cornerstone of financial integrity and corporate transparency. Whether you're running a private limited company or an LLP, getting your financial statements audited ensures accuracy and accountability.

What is a Statutory Audit?

A statutory audit is a legally mandated review of the financial records of a company to determine whether they are accurate and compliant with applicable laws.

Who Needs a Statutory Audit in India?

• Companies with turnover above the threshold limits

• LLPs with turnover exceeding ₹40 lakhs or capital contribution above ₹25 lakhs

• Trusts and Societies receiving grants

Benefits of a Statutory Audit

• Increases investor and stakeholder confidence

• Helps detect frauds and errors

• Ensures compliance with Companies Act, 2013

• Adds credibility to financial statements

How Vamu & Associates Helps

Our audit experts go beyond compliance. We analyze internal controls, offer process improvements, and prepare your business for long-term sustainability.

📞 Need audit support? Contact our team today.