A statutory audit is a legally mandated audit conducted to ensure that a company’s financial statements present a true and fair view of its financial position. It is governed by the Companies Act, 2013, and applies to all companies registered under the Act. At VPS & Associates, Hyderabad, we offer expert statutory audit services to help businesses comply with legal requirements, enhance financial credibility, and maintain transparency in their operations.

A statutory audit involves an in-depth review of a company’s books of accounts, financial statements, and compliance with regulatory provisions. It is carried out by an independent auditor who examines whether the financial reports comply with the applicable accounting standards and legal provisions.

Who Needs a Statutory Audit?

As per Section 139 of the Companies Act, 2013, every company (except certain small private companies) must appoint a statutory auditor to conduct an annual audit of its financial statements. The following types of businesses require a statutory audit:

• Private Limited Companies and Public Limited Companies
• One Person Companies (OPCs)
• Limited Liability Partnerships (LLPs) (if turnover exceeds ₹40 lakh or contribution exceeds ₹25 lakh)
• Foreign Companies with a presence in India
• Section 8 Companies (Non-Profit Organizations)

Additionally, startups and businesses availing tax benefits or government incentives may be required to undergo statutory audits.

Key Objectives of a Statutory Audit

✔ Ensuring Financial Transparency – Providing an unbiased assessment of financial statements.
✔ Regulatory Compliance – Meeting the requirements of the Companies Act, 2013, and other applicable laws.
✔ Fraud Detection and Prevention – Identifying discrepancies, errors, or fraudulent activities.
✔ Enhancing Credibility – Building trust among stakeholders, investors, and financial institutions.
✔ Tax & Legal Compliance – Ensuring that tax liabilities and financial obligations are correctly reported.

Our Expertise in Statutory Audits

At VPS & Associates, Hyderabad, our team of experienced Chartered Accountants and statutory auditors offers professional audit services to various business entities, including:

✅ Startups, MSMEs, and Large Corporates
✅ IT & Software Companies
✅ Manufacturing and Trading Firms
✅ Financial Services and NBFCs
✅ E-commerce and Retail Businesses
✅ Real Estate and Infrastructure Companies
✅ Hospitals, Educational Institutions, and NGOs

We follow a structured audit process, ensuring compliance with Indian Accounting Standards (Ind AS), International Financial Reporting Standards (IFRS), and other statutory requirements.

Why Choose VPS & Associates, Hyderabad?

✔ Industry Expertise – Decades of experience in handling audits across various industries.
✔ Compliance-Driven Approach – Ensuring businesses meet all statutory obligations under the Companies Act, 2013.
✔ Risk Assessment & Fraud Detection – Helping businesses mitigate financial risks and prevent fraudulent activities.
✔ Timely Audit Reports – Enabling smooth financial reporting and regulatory compliance.
✔ Confidential & Reliable Services – Maintaining strict confidentiality while ensuring audit accuracy.

If your company requires a statutory audit or professional assistance in complying with the Companies Act, 2013, our team at VPS & Associates, Hyderabad, is here to assist you.

📧 Email id : team@vpsandassociates.com

Contact us today!

☎️ Landline: 040 – 29801299
📲  Mobile no: 8886359392 / 9030931302

for expert statutory audit services.