Statutory Audit
Ensure Legal Compliance. Strengthen Financial Transparency.
A Statutory Audit is a legally mandated audit of a company’s financial records conducted to ensure accuracy, transparency, and compliance with applicable laws and regulations.
OS Management Consulting Services (OSMCS) provides independent, reliable, and professional Statutory Audit services for companies, LLPs, NBFCs, and other entities across India.
Who is Required to Conduct Statutory Audit?
Statutory Audit is mandatory for:
- Private Limited Companies
- Public Limited Companies
- One Person Companies (OPC)
- Listed Companies
- NBFCs
- Insurance Companies
- Banking Companies
- Government Companies
- LLPs (if turnover exceeds prescribed limits)
Objectives of Statutory Audit
- Verify accuracy of financial statements
- Ensure compliance with laws and regulations
- Detect fraud or misstatements
- Improve financial discipline
- Enhance investor and stakeholder confidence
- Provide transparency in reporting
Scope of Statutory Audit
Our audit process includes:
- Examination of books of accounts
- Verification of assets & liabilities
- Revenue & expense verification
- Compliance review
- Internal control evaluation
- Risk assessment
- Tax compliance check
- Preparation of audit report
Documents Required for Statutory Audit
- Financial Statements (Balance Sheet & P&L)
- Trial Balance
- Bank Statements
- GST Returns
- Income Tax Returns
- Fixed Asset Register
- Loan Agreements
- Statutory Registers
Process of Statutory Audit
- Appointment of Auditor
- Audit Planning
- Risk Assessment
- Verification & Testing
- Compliance Review
- Draft Audit Report
- Final Audit Report Issuance
Benefits of Statutory Audit
- Legal compliance
- Improved financial credibility
- Better internal control system
- Fraud prevention
- Increased investor confidence
- Easier loan approvals
- Transparent financial reporting
Penalties for Non-Compliance
Failure to conduct statutory audit may result in:
- Heavy penalties on company
- Penalty on directors
- Disqualification of directors
- Legal proceedings
- Regulatory action
Compliance is mandatory to avoid serious consequences.
Industries We Serve
We provide Statutory Audit services to:
- Manufacturing Companies
- Trading Businesses
- IT & Software Firms
- Construction & Infrastructure Companies
- Healthcare & Hospitals
- Educational Institutions
- NBFCs & Financial Institutions
- Startups & MSMEs
- Hospitality Industry
- Import & Export Businesses
Why Choose OS Management Consulting Services (OSMCS)?
Experienced Chartered Accountants
Independent & Transparent Audit Approach
Risk-Based Audit Methodology
Timely Completion
Confidential Handling of Data
Compliance with Latest Regulatory Norms
Pan-India Service Coverage
Additional Audit Services
- Internal Audit
- Tax Audit
- GST Audit
- Stock Audit
- Management Audit
- Due Diligence
- Forensic Audit
We Serve Across India Including
Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, West Bengal, Delhi, and Chandigarh.
Get Your Statutory Audit Done Professionally
Stay compliant and strengthen your financial credibility with expert audit services.
OS Management Consulting Services (OSMCS)
📞 +91-9818464539
Professional | Reliable | Compliant Statutory Audit Services