Audit is an examination of books of accounts of an organization by an independent professional (Qualified CA). It is the examination of financial statements of an organization by obtaining reasonable assurance that they are free from material misstatement and prepared using the applicable financial reporting framework.
Statutory audit as per Companies Act, 2013 states that every Company incorporated in India shall appoint an Auditor, whether an individual or firm, to hold office (i.e. be appointed as statutory auditor) from the conclusion of First Annual General Meeting (AGM) till the conclusion of sixth Annual General Meeting.
An auditor is required to provide such auditing services with utmost care and integrity and give an independent opinion on the state of affairs (i.e. financial statements) of the Company.
|Entity||Applicable (Yes/ No)||Limit, if any|
|Public Limited Company||Yes||No limit|
|Private Limited Company||Yes||No limit|
|Limited Liability Partnership||Yes||Turnover: Exceeds 40 lakhs Contribution: 25 lakhs|
|Hindu Undivided Family (HUF)||No||NA|
M S B & Company team provide world class audit services in Delhi, Noida, Gurgaon or anywhere in India, diligently and efficiently, keeping tab of the timelines mutually agreed with the clients. We have also served clients in US, Singapore, Canada and other GCC countries. We inculcate radical procedures to get sufficient audit evidence to provide reasonable assurance on the true and fair presentation of the financial statements.
We focus on core areas of an organization (i.e. Revenue, Trade receivables, Inventories, Statutory dues etc.) whilst maintaining proper supervision of other areas as well.
Our team remains updated with the latest regulations and guidelines implemented by statutory authorities from time to time which improves our quality of the statutory audit in Delhi NCR, India and abroad.
With the team of experienced professionals focusing their efforts in providing a qualitative service to our clients, we hope to develop long lasting relationship by guiding them through technical and complex regulations and standards which are required to be followed by each organization.
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