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As part of our Auditing Service, we offer credible Statutory Auditing Service. Every company registered in India has to get his accounts audited from a chartered accountant every year. Under various statutes, the business or entity has to get accounts audited. We carry out the same e.g. Companies Act, Banking Regulation Act (Branch audits), Non Profit organizations, etc.
Offered by expertsComplies to Indian auditing proceduresReliable serviceTimely completion of projectCompaniesCorporate housesEnsure absolute financial transparency and regulatory compliance with AVC India’s expert Statutory Audit services in Gurgaon. Our Chartered Accountants deliver rigorous financial statement audits, internal control assessments, and CARO compliance for private, public, and Section 8 companies across Delhi NCR.
Under the Companies Act, 2013, every registered company in India, regardless of its turnover or paid-up capital, is legally mandated to undergo a Statutory Audit. This annual examination ensures that financial statements present a true and fair view of the company’s financial health, preventing material misstatements and corporate fraud.
At AVC India, our statutory audit practice in Gurgaon goes beyond basic compliance checking. We conduct in-depth analytical reviews, substantive testing, and internal control evaluations for IT firms in DLF Cyber City, manufacturing units in IMT Manesar, and modern startups across Udyog Vihar.
Our audit methodologies align directly with the Standards on Auditing (SAs) issued by the ICAI. We meticulously examine your ledgers, bank reconciliations, fixed asset registers, and statutory dues (TDS, PF, ESI, GST) to guarantee that your balance sheet, profit & loss account, and cash flow statements are flawless.
Partnering with AVC India secures your board of directors and shareholders against regulatory penal actions. We deliver the final Independent Auditor’s Report, CARO reporting, and IFC certification well ahead of your Annual General Meeting (AGM) and ROC filing deadlines.
A high-quality audit does more than check a compliance box it builds stakeholder trust, optimizes internal controls, and highlights financial inefficiencies.
Independent verification of financials builds immediate credibility with banks, venture capitalists, shareholders, and potential acquirers.
Eliminate the risk of heavy penalties, director disqualifications, and MCA scrutiny by ensuring 100% adherence to the Companies Act 2013.
We identify critical vulnerabilities in your accounting systems, operational workflows, and revenue recognition processes.
Our substantive testing procedures uncover unintentional accounting errors, regulatory lapses, and potential financial misappropriations.
AVC India executes tailored statutory audit programs for diverse corporate structures operating across the Delhi NCR business landscape.
From incorporation onward, every private limited company requires an annual statutory audit regardless of revenue. We handle end-to-end audit requirements from initial auditor appointment (ADT-1) to final reporting.
Subject to stricter corporate governance norms, unlisted and listed public companies require extensive auditing, including robust CARO 2020 reporting and detailed Internal Financial Controls (IFC) testing.
Non-profit organizations operating as Section 8 entities require specialized audits focusing on fund utilization, FCRA compliance, and adherence to specific Ministry of Corporate Affairs exemptions.
We provide Indian GAAP and Ind AS compliant statutory audits for multinational subsidiaries in Gurgaon, enabling seamless group consolidation reporting for foreign parent companies.
Funded tech startups need accurate valuation foundations and clean cap tables. Our audits ensure financial clarity for subsequent funding rounds and rigorous compliance for ESOP accounting and burn-rate tracking.
The documents required for a statutory audit depend on your company’s structure, industry, and scale of operations. Below is a comprehensive checklist covering the most common requirements. You may not need all of these our audit team will tell you exactly which documents apply to your specific business scenario.
Beyond basic compliance, our structured 7-step approach ensures absolute financial accuracy, strengthens internal controls, and builds stakeholder trust.
Formalizing the engagement, obtaining NOC from the previous auditor, and filing ADT-1 with the Registrar of Companies (ROC).
Evaluating your business model, accounting environment, and identifying areas of material financial risk.
Testing existing financial controls, IFC frameworks, and operational checks for systemic weaknesses.
Vouching and verifying major transaction classes, including revenue, purchases, payroll, and capital expenditures.
Cross-verifying TDS, GST, PF, and ESI deductions against actual deposits and returns filed with the government.
Presenting draft financials, identified accounting gaps, and CARO observations to the management for representations.
Issuing the final signed balance sheet, P&L, notes to accounts, and the Auditor’s Report for AGM adoption.
We begin with a no-cost consultation to understand your income profile, previous filing history, and any specific concerns such as pending notices, undisclosed income, or major financial transactions in the year. This takes 15–30 minutes and can be done over phone, video call, or WhatsApp.
Based on the consultation, we share a personalised document checklist. You upload your documents securely via WhatsApp, email, or our client portal. Our team acknowledges receipt within 24 hours and flags any missing items.
Our Chartered Accountant reviews all documents, computes your total taxable income, reconciles TDS credits against your Form 26AS and AIS, and identifies any discrepancies that need to be resolved before filing. This step often uncovers missed TDS credits and legitimate deductions.
For AY 2026-27, we compare your liability under the New Tax Regime and the Old Tax Regime and advise which is more beneficial. We also flag any tax-saving opportunities you may have missed during the financial year.
We prepare your ITR and share a detailed computation sheet for your review. You review the income figures, deductions claimed, and tax liability before any submission. We welcome questions and explain every line item clearly.
Once you approve, we file your return on the Income Tax portal (incometax.gov.in). You receive the ITR acknowledgement (ITR-V) within minutes. We guide you through e-verification via Aadhaar OTP or EVC, completing the full filing within the same session wherever possible.
Our engagement does not end at filing. We track your refund status, alert you to any intimation notices under Section 143(1), respond to any clarification sought by the Income Tax Department, and remain available for any post-filing queries throughout the assessment year.
At AVC India, every statutory audit is conducted under the supervision of qualified, practising Chartered Accountants. We go beyond routine document checking to apply professional judgement, assess financial reporting risks and ensure that the audit is performed with the independence and diligence the engagement requires.
As a Gurugram-based firm, we understand the operational and financial environments of startups, private limited companies, IT and SaaS businesses, consulting firms, manufacturers and other organisations operating across Cyber City, Udyog Vihar and the wider NCR region. This local understanding helps us plan the audit around your actual business processes and risks.
A statutory audit should provide more than a signed audit report. Our approach includes reviewing books of account, supporting documents, internal controls, accounting policies, statutory records and material financial disclosures. We also communicate significant observations and documentation gaps so that management can address them appropriately.
We establish the audit scope, document requirements and expected timelines at the beginning of the engagement. Early planning and regular coordination with your accounts team help reduce last-minute pressure and support the timely completion of the statutory audit.
Our professional fee is determined after considering the size of the organisation, transaction volume, business complexity, quality of accounting records and scope of the audit. You receive a clear quotation before the engagement begins, without unexpected charges at the reporting stage.
Financial statements, accounting records, contracts and other sensitive business documents are handled with strict confidentiality. Access is limited to the professionals involved in the statutory audit and the information is used only for completing the agreed engagement.
Our relationship does not have to end when the audit report is issued. Throughout the year, our team can assist your organisation in understanding audit observations, improving financial documentation and preparing accounting records for the next reporting and audit cycle.
Statutory audit in Gurugram is an important compliance requirement for companies covered under applicable laws. It involves an independent examination of financial statements, books of accounts, transactions, and supporting records to help ensure accurate financial reporting and compliance.
Gurugram is a major corporate hub with startups, private limited companies, MNCs, IT companies, manufacturing businesses, consulting firms, e-commerce businesses, and growing enterprises. Our statutory audit services in Gurugram help businesses maintain reliable financial records, identify accounting issues, strengthen internal controls, and meet applicable audit requirements.
A statutory audit is an independent examination of a company’s financial statements and accounting records by an eligible statutory auditor.
The main objective is to enable the auditor to express an independent opinion on whether the financial statements present a true and fair view in accordance with the applicable financial reporting framework and legal requirements.
A statutory audit may cover:
Companies incorporated under the Companies Act, 2013 are subject to the statutory audit framework applicable to companies.
We provide audit support to:
| Business Type | Common Audit Areas |
|---|---|
| Private Limited Companies | Financial statements, statutory compliance, internal controls |
| Startups | Funding, revenue, expenses, ESOPs, investor reporting |
| MNC Subsidiaries | Inter-company transactions, group reporting, foreign transactions |
| Manufacturing Companies | Inventory, fixed assets, revenue and expenses |
| IT & SaaS Companies | Revenue recognition, employee costs, software-related transactions |
| E-commerce Businesses | Sales, GST, settlements, revenue reconciliation |
| Service Companies | Revenue, expenses, receivables and statutory dues |
The exact requirements depend on the company’s structure, size, business activities, accounting framework, and applicable regulations.
The statutory audit framework for companies is primarily governed by the Companies Act, 2013, along with applicable rules, accounting standards, auditing standards, and other regulatory requirements.
Important provisions include:
Our statutory audit process generally includes:
Understanding the company’s operations, business model, accounting systems, and significant transactions.
Identifying financial reporting risks and determining areas requiring detailed audit procedures.
Reviewing the trial balance, ledgers, bank statements, invoices, vouchers, agreements, and supporting records.
Checking selected transactions and balances, including banks, receivables, payables, fixed assets, loans, and statutory balances.
Reviewing relevant financial controls and identifying weaknesses that may affect financial reporting.
Reviewing the balance sheet, statement of profit and loss, cash flow statement where applicable, and notes to accounts.
Completing the required audit procedures and preparing the applicable auditor’s report and other reports.
Commonly required documents include:
Additional documents may be required depending on the company’s business and audit scope.
| Type | Main Purpose |
|---|---|
| Statutory Audit | Independent audit of financial statements to meet applicable legal requirements |
| Internal Audit | Review of controls, processes, risks, compliance and operational efficiency |
| Tax Audit | Audit and reporting under applicable provisions of the Income Tax Act |
The Companies (Auditor’s Report) Order (CARO) may apply to specified companies subject to applicable provisions and exemptions.
Where applicable, CARO reporting may cover matters such as:
Some common issues identified during statutory audits include:
Identifying these issues early can make the audit process smoother and help businesses strengthen their accounting controls.
A professional statutory audit can help businesses with:
We provide professional statutory audit services in Gurugram and Delhi-NCR for startups, private limited companies, MNC subsidiaries, and established businesses.
Our services include:
Our approach focuses on accuracy, compliance, proper documentation, and practical understanding of business operations.
Yes. Under the Companies Act 2013, every registered company must undergo an annual statutory audit regardless of turnover, profit, or loss. Zero revenue does not exempt a company from this compliance.
Internal audit is an ongoing management tool to improve operations and risk management, required only for specific classes of companies. Statutory audit is legally mandatory for all companies to report to shareholders and the ROC on the true and fair view of the financials.
Only an independent Chartered Accountant (CA) holding a valid Certificate of Practice (CoP) from the Institute of Chartered Accountants of India (ICAI) can conduct a statutory audit.
The Companies (Auditor's Report) Order, 2020 (CARO) is an additional reporting requirement for auditors. It mandates reporting on specific matters like fixed assets, inventory, internal audit systems, and statutory dues for applicable companies.
Failure to conduct a statutory audit or file audited financials (AOC-4) attracts heavy penalties under Section 147 of the Companies Act, starting from ₹25,000 up to ₹5,00,000, along with potential prosecution of defaulting officers.
Get expert assistance from experienced chartered accountants for a rigorous and fully compliant statutory audit in Gurgaon.