Society Audit Consultant
A Society Audit Consultant provides professional audit and compliance services to ensure that cooperative, housing, and residential societies operate transparently and in accordance with statutory regulations. These consultants examine financial records, verify accounts, assess internal controls, and ensure timely compliance with governing laws and audit requirements.
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Professional Statutory Audit of Companies
A Professional Statutory Audit of Companies is a legally mandated process that ensures a company’s financial statements are accurate, complete, and prepared in compliance with applicable accounting standards and statutory requirements. The audit includes detailed verification of financial records, evaluation of internal control systems, and review of statutory compliances such as taxes, filings, and disclosures. This process helps confirm that the company’s financial position and performance are fairly represented to shareholders, regulators, and other stakeholders.
Beyond compliance, a professional statutory audit adds significant value to business operations by identifying financial risks, control weaknesses, and areas for improvement. It enhances corporate governance, strengthens credibility with investors and lenders, and supports informed decision-making by management. Regular statutory audits also help companies prevent fraud, ensure accountability, and maintain long-term financial discipline.
Applicability of Statutory Audit for Companies
- Mandatory for All Companies: Statutory audit is compulsory for private limited companies, public limited companies, OPCs, and Section 8 companies.
- Applicable Regardless of Turnover: No minimum turnover or profit threshold is required for statutory audit applicability.
- Required Under the Companies Act: The audit must be conducted in accordance with applicable provisions of the Companies Act and auditing standards.
- Annual Compliance: Statutory audit is required to be performed every financial year.
- Audit by Qualified Auditor: Only a Chartered Accountant appointed as statutory auditor can conduct the audit.
- Non-Compliance Consequences: Failure to conduct a statutory audit may lead to penalties, legal action, and loss of business credibility.
Due Dates for Company Audit and Mandatory Compliances
Statutory Audit Completion
Statutory audit must be completed as the AGM is required to be held within six months from the end of the financial year.
Income Tax Return (ITR) Filing
Companies are required to file their income tax return on or before this due date.
AOC-4 Filing
Filing of audited financial statements with the Registrar within 30 days from the date of AGM.
MGT-7 Filing
Annual return to be filed within 60 days from the conclusion of the AGM.
DIN KYC & DPT-3 Filing
Annual compliance for director KYC and return of deposits to be completed on or before this date.
Documents Required for Company Statutory Audit
Complete Statutory Audit Package – Private Limited Company
Private Limited Company
Statutory Audit Package
- Auditing of Books of Account
- Statutory Audit Report by CA
- Filing of Income Tax Return
- ROC Filings (MGT, AOC, ADT Forms)
- DIN KYC Filing
- DPT-3 & MSME Filings
- Other Mandatory Annual Compliances
- Board Meeting & AGM Paper Preparation
Process of Company Statutory Audit
Submit Required Documents
Share all necessary documents for the company audit. Our team reviews the records and requests any additional information, if required.
Audit Execution & Filing Preparation
We conduct the statutory audit and prepare the audit report along with mandatory compliance filings such as ITR and ROC forms.
Audit Completion & Compliance Filing
The audit is completed within due timelines, and all statutory compliances are filed accurately to keep your company fully compliant.
Common Audit Issues Faced by Societies
Get Professional Help for Society Audits
Need expert assistance for society audits and compliance? Our experienced professionals provide reliable audit services for housing and cooperative societies, ensuring accuracy, transparency, and timely compliance across India.
Frequently Asked Questions (FAQ)
A statutory audit is a legally mandated audit conducted to verify whether a company’s financial statements present a true and fair view in accordance with applicable laws and standards.
Key documents include books of accounts, bank statements, vouchers, GST and TDS records, financial statements, and previous year reports.
Statutory audit is generally completed by 30th September, followed by ITR, ROC, and other mandatory filings within prescribed timelines.
We provide end-to-end audit support including document review, audit execution, report preparation, and timely filing of all compliances.