Last updated: 14 Oct 2026

Virtual Auditor

Statutory Audit Services India

Last updated: 14 Oct 2026

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Quick answer: Statutory audit services in India ensure compliance with the Companies Act 2013, CARO 2020, and relevant accounting standards. These professional services involve comprehensive documentation, filing, and representation to meet mandatory regulatory requirements. The firm provides multi-location audit support, guided by credentialed experts to ensure all statutory filing and reporting obligations are met.

Statutory audit by experienced CA firm. Section 143 Companies Act, CARO 2020, SA compliance. Multi-location audits. Since 2012.

Our Approach

We combine deep regulatory expertise with AI-powered tools to deliver accurate, defensible, and timely results. Every engagement is led by CA V. Viswanathan, ensuring senior-level attention.

Contact Us

Chennai (HQ): G-131, Ground Floor, Phase 3, Spencer Plaza Mall, Anna Salai, Chennai. Phone: +91 99622 60333.

Bangalore: 7th Floor, Mahalakshmi Chambers, 29, MG Road, Bangalore. Phone: +91 95139 39333.

Mumbai: Workafella, AK Estate, SV Road, Goregaon West, Mumbai. Phone: +91 77000 89597.

What has changed in the law — reviewed October 2026

  • Income-tax Act, 2025: assented to on 21 August 2025 and in force from 1 April 2026, it replaces the Income-tax Act, 1961 for tax year 2026-27 onward, and the Income-tax Rules, 2026 (notified 20 March 2026) replace the 1962 Rules. Section and rule numbers on this page are those of the 1961 Act and 1962 Rules, which continue to govern assessments, appeals and pending proceedings for assessment years up to 2026-27; for tax year 2026-27 onward the corresponding provisions of the 2025 Act apply, and our engagement letters quote both.

Frequently Asked Questions

What is the difference between statutory audit and internal audit?
A statutory audit is required by law (sections 139 to 143 of the Companies Act, 2013), is performed by an independent chartered accountant appointed by the shareholders and gives an opinion on the financial statements. An internal audit is appointed by the board, reports to management and the audit committee, and reviews controls, risks and efficiency throughout the year.
Who is required to get a statutory audit done?
This service can be provided by qualified professionals with relevant credentials. At Virtual Auditor, CA V. Viswanathan holds FCA (ICAI), ACS (ICSI), CFE (ACFE USA), and IBBI Registered Valuer (IBBI/RV/03/2019/12333) certifications — covering the full spectrum of regulatory requirements. Our practice operates from Chennai, Bangalore, and Mumbai.
What are the penalties for not completing statutory audit on time?
The specific requirements, documents, and procedures are detailed in the relevant regulatory provisions. Virtual Auditor provides comprehensive support including documentation, filing, representation, and follow-up. Our multi-credential team ensures nothing is missed across regulatory intersections.
Can the same CA firm do both statutory audit and tax audit?
This depends on the specific facts and regulatory framework applicable to your situation. Virtual Auditor provides case-specific advisory after understanding your circumstances. Call +91 99622 60333 for a preliminary assessment.
What documents are needed for statutory audit?
Virtual Auditor provides expert advisory on this through our FCA + ACS + CFE + IBBI Registered Valuer practice. Contact us at +91 99622 60333 or visit virtualauditor.in for detailed guidance specific to your situation.
How long does a statutory audit take?
For a small private company with clean books, 2 to 4 weeks from receiving the trial balance and schedules. Larger companies with inventory, multiple locations or group consolidation take 6 to 10 weeks. The audited accounts must be ready for the AGM, which is due by 30 September.
Which audit or review applies, and what will the work actually cover?
Every company needs a statutory audit of its financial statements by a chartered accountant appointed under section 139 of the Companies Act, reporting under section 143 and, where it applies, the CARO 2020 order and on internal financial controls. An LLP needs an audit when its turnover exceeds ₹40 lakh or its contribution exceeds ₹25 lakh. A tax audit is needed when business turnover or professional receipts cross the income-tax limits. An internal audit is required for prescribed classes of companies (section 138). A statutory auditor cannot also provide certain other services to the same company (section 144). We confirm which audits apply, agree the scope and timetable in an engagement letter, and list the records needed.

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What has changed in the law — reviewed October 2026

  • Income-tax Act, 2025: assented to on 21 August 2025 and in force from 1 April 2026, it replaces the Income-tax Act, 1961 for tax year 2026-27 onward, and the Income-tax Rules, 2026 (notified 20 March 2026) replace the 1962 Rules. Section and rule numbers on this page are those of the 1961 Act and 1962 Rules, which continue to govern assessments, appeals and pending proceedings for assessment years up to 2026-27; for tax year 2026-27 onward the corresponding provisions of the 2025 Act apply, and our engagement letters quote both.

Virtual Auditor across India

Which laws govern this service? — Audit

The statutory provisions this service is delivered under, linked to the official text:

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Frequently Asked Questions

What is the difference between statutory audit and internal audit?
A statutory audit is required by law (sections 139 to 143 of the Companies Act, 2013), is performed by an independent chartered accountant appointed by the shareholders and gives an opinion on the financial statements. An internal audit is appointed by the board, reports to management and the audit committee, and reviews controls, risks and efficiency throughout the year.
Who is required to get a statutory audit done?
This service can be provided by qualified professionals with relevant credentials. At Virtual Auditor, CA V. Viswanathan holds FCA (ICAI), ACS (ICSI), CFE (ACFE USA), and IBBI Registered Valuer (IBBI/RV/03/2019/12333) certifications — covering the full spectrum of regulatory requirements. Our practice operates from Chennai, Bangalore, and Mumbai.
What are the penalties for not completing statutory audit on time?
The specific requirements, documents, and procedures are detailed in the relevant regulatory provisions. Virtual Auditor provides comprehensive support including documentation, filing, representation, and follow-up. Our multi-credential team ensures nothing is missed across regulatory intersections.
Can the same CA firm do both statutory audit and tax audit?
This depends on the specific facts and regulatory framework applicable to your situation. Virtual Auditor provides case-specific advisory after understanding your circumstances. Call +91 99622 60333 for a preliminary assessment.
What documents are needed for statutory audit?
Virtual Auditor provides expert advisory on this through our FCA + ACS + CFE + IBBI Registered Valuer practice. Contact us at +91 99622 60333 or visit virtualauditor.in for detailed guidance specific to your situation.
How long does a statutory audit take?
For a small private company with clean books, 2 to 4 weeks from receiving the trial balance and schedules. Larger companies with inventory, multiple locations or group consolidation take 6 to 10 weeks. The audited accounts must be ready for the AGM, which is due by 30 September.
Which audit or review applies, and what will the work actually cover?
Every company needs a statutory audit of its financial statements by a chartered accountant appointed under section 139 of the Companies Act, reporting under section 143 and, where it applies, the CARO 2020 order and on internal financial controls. An LLP needs an audit when its turnover exceeds ₹40 lakh or its contribution exceeds ₹25 lakh. A tax audit is needed when business turnover or professional receipts cross the income-tax limits. An internal audit is required for prescribed classes of companies (section 138). A statutory auditor cannot also provide certain other services to the same company (section 144). We confirm which audits apply, agree the scope and timetable in an engagement letter, and list the records needed.