Statutory Audit at Sakariya & Associates are conducted with disciplined audit methodologies, strong documentation standards, and a deep understanding of each client’s business model. Our approach goes beyond certification.

We focus on strengthening internal controls, ensuring accurate financial reporting, and enhancing compliance readiness in accordance with applicable laws and regulatory expectations.

Statutory Audit

Our Audit Approach

We follow a structured, risk-focused audit process designed to improve systems, identify control gaps, and ensure full compliance while maintaining transparency and operational integrity.

01

Planning & Risk Assessment

Identifying key risk areas and understanding business processes.
02

Detailed Testing & Verification

Performing substantive and control-based tests to ensure accuracy and compliance.
03

Reporting & Improvement Insights

Issuing clear audit observations with practical, actionable recommendations.

Audit Coverage & Key Deliverables

  • Verification of financial statements and underlying records
  • Evaluation of internal controls and accounting systems
  • Review of revenue recognition and expense accuracy
  • Assessment of statutory compliance and regulatory alignment
  • Identification of irregularities, gaps and control weaknesses
  • Practical recommendations for system improvement
  • Transparent, documentation-driven reporting

Why Choose Us for Statutory Audit

Our audits are designed to add value, reduce risk, and build long-term stakeholder trust through accuracy, compliance and professional rigor.

  • Strong adherence to ICAI standards & regulatory guidelines
  • Sector-wide experience across manufacturing, trading, real estate, exports and services
  • Independent, transparent and improvement-oriented audit insights

Frequently Asked Questions

What is a Statutory Audit?

A Statutory Audit is a legally mandated examination of a company’s financial statements to ensure accuracy, compliance and true financial reporting.

Companies, LLPs and other entities that cross specific turnover, capital or regulatory thresholds under applicable laws must undergo a Statutory Audit.

Financial statements, ledgers, trial balance, bank statements, invoices, agreements, statutory registers, tax records and internal control documents.

The duration depends on the size of the entity, complexity of operations and availability of accurate documentation.

While not primarily designed for fraud detection, the audit process may identify irregularities or control weaknesses that indicate potential risks.

We follow a structured, documentation-driven methodology focusing on risk assessment, control evaluation and compliance accuracy.

No — we plan audits with minimal operational disruption and coordinate with management to ensure smooth execution.

It improves financial transparency, strengthens controls, reduces risks and enhances long-term stakeholder confidence.