Statutory Audit 

A Statutory Audit is a legally mandated review of a company’s financial statements, books of accounts, and business operations to verify accuracy, compliance with accounting standards, and adherence to regulatory requirements. Conducted by independent, certified auditors, it ensures transparency, accuracy in reporting, and protection of stakeholders’ interests. 

Objectives: 

• Confirm accuracy of financial records 

• Detect and prevent financial misreporting or fraud 

• Ensure regulatory compliance 

In many jurisdictions, statutory audits are compulsory for companies exceeding certain revenue, asset, or employee thresholds.