{"id":495,"date":"2023-09-19T09:40:29","date_gmt":"2023-09-19T09:40:29","guid":{"rendered":"https:\/\/komplytek.com\/blogs\/?p=495"},"modified":"2023-09-19T09:41:37","modified_gmt":"2023-09-19T09:41:37","slug":"statutoryaudit","status":"publish","type":"post","link":"https:\/\/komplytek.com\/blogs\/statutoryaudit\/","title":{"rendered":"\u00a0 Statutory Audit"},"content":{"rendered":"

\u00a0 Statutory Audit<\/span><\/strong><\/p>\n

A statutory audit, or an external or financial audit, is an independent examination of a company\u2019s financial statements and records to ensure their accuracy and compliance with applicable laws and regulations. These audits are required by law or regulation for certain entities, such as corporations, government agencies, non-profit organizations, and other entities subject to specific reporting requirements.<\/p>\n

The specific requirements and procedures of statutory audits can vary based on local laws and regulations, but their fundamental objective is to provide an independent and reliable assessment of an entity\u2019s financial health and compliance.<\/p>\n

Importance of the Statutory Audit<\/span><\/strong><\/p>\n

\u2013 Legal Requirement:<\/span><\/strong> Statutory audits are mandated by law or regulations, often by government authorities or regulatory bodies. The purpose is to assure stakeholders that the audited entity\u2019s financial statements are prepared according to accounting standards and present a true and fair view of its financial position.<\/span><\/p>\n

\u2013 Independence:<\/span><\/strong> The auditors conducting a statutory audit must be independent of the organization they are auditing. This independence is crucial to ensure unbiased and objective assessments.<\/span><\/p>\n

\u2013 Financial Statements:<\/span><\/strong> The primary focus of a statutory audit is to examine the financial statements of the organization, which typically include the balance sheet, income statement, cash flow statement, and notes to the financial statements. The audit aims to verify the accuracy of these statements and assess whether they comply with accounting principles and standards.<\/span><\/p>\n

\u2013 Compliance:<\/span><\/strong> In addition to financial accuracy, statutory auditors also assess whether the organization complies with relevant laws, regulations, and accounting standards. This may include tax compliance, regulatory compliance, and adherence to industry-specific regulations.<\/span><\/p>\n

\u2013 Audit Report:<\/span><\/strong> After conducting the audit, the auditors provide an audit report that includes their findings and opinions. This report is usually addressed to the shareholders or governing body of the organization. It typically contains an opinion on whether the financial statements are presented fairly and whether there are any material misstatements.<\/span><\/p>\n

\u2013 Recommendations:<\/span><\/strong> If auditors identify deficiencies or areas of concern during the audit, they may make recommendations for improvements in internal controls, accounting practices, or compliance procedures.<\/span><\/p>\n

\u2013 Risk Assessment:<\/span><\/strong> Auditors also assess the risk of material misstatement in financial statements. They consider various factors, including the internal controls of the organization, the nature of its operations, and economic conditions, to determine the level of audit risk.<\/span><\/p>\n

\u2013 Sampling and Testing:<\/span><\/strong> Auditors use sampling techniques to review a subset of transactions and balances within an organization. They may also perform substantive testing to verify the accuracy of specific items in the financial statements.<\/span><\/p>\n

\u2013 Audit Procedures:<\/span><\/strong> Statutory audits involve a series of standardized audit procedures, which are designed to obtain sufficient and appropriate audit evidence to support the audit opinion.<\/span><\/p>\n

\u2013 Disclosure:<\/span><\/strong> Organizations are typically required to disclose the results of the statutory audit in their annual reports or financial statements, providing transparency to stakeholders.<\/span><\/p>\n

\u00a0<\/p>\n

Who is required to have a statutory Audit?<\/span><\/strong><\/p>\n

The requirement for a statutory audit depends on the laws and regulations of the country or jurisdiction in which an organization operates. These requirements can vary significantly from one place to another. However, I can provide a general overview of the types of entities that are often required to have a statutory audit in many jurisdictions:<\/p>\n

\u2013 Publicly Traded Companies:<\/span><\/strong> Publicly traded companies, those listed on stock exchanges, and those that issue securities to the public are almost universally required to have a statutory audit. The goal is to provide transparency to investors and protect their interests.<\/p>\n

\u2013 Large Private Limited Companies:<\/span><\/strong> Many countries have thresholds based on factors like total assets, turnover, or the number of employees. Large private limited companies that exceed these thresholds are often required to undergo a statutory audit.<\/p>\n

\u2013 Financial Institutions:<\/span><\/strong> Banks, insurance companies, and other financial institutions are usually subject to strict audit requirements to ensure the stability of the financial system and protect the interests of depositors and policyholders.<\/p>\n

\u2013 Government Entities:<\/span><\/strong> Government agencies, municipal bodies, and other public entities often require statutory audits to ensure transparency, accountability, and proper use of public funds.<\/p>\n

\u2013 Non-Profit Organizations:<\/span><\/strong> Non-profit organizations, especially those that receive significant government grants or donations, are often subject to statutory audit requirements to maintain transparency and demonstrate responsible financial management.<\/p>\n

\u2013 Companies of Public Interest:<\/span><\/strong> Certain companies or entities that are considered to be of public interest due to their size, industry, or impact on society may be required to undergo statutory audits. This could include companies in the healthcare, utilities, or energy sectors.<\/p>\n

\u2013 Regulated Industries:<\/span><\/strong> Industries subject to specific regulations, such as pharmaceuticals, telecommunications, or aviation, may have statutory audit requirements to ensure compliance with industry-specific rules.<\/p>\n

\u2013 Foreign Subsidiaries: <\/span><\/strong>Subsidiaries of foreign companies operating within a country may also be subject to statutory audit requirements in the host country, depending on local regulations.<\/p>\n

\u2013 Limited Liability Partnership:<\/span><\/strong> An LLP is required to get its accounts audited if the sales turnover exceeds INR 40 Lakhs and Capital Contribution INR 25 Lakhs, irrespective of the nature of the business.<\/p>\n

It\u2019s important to emphasize that the exact criteria and thresholds for statutory audits can vary widely from one jurisdiction to another. Organizations should consult with legal and financial professionals in their respective countries to determine whether they are required to undergo a statutory audit and to understand the specific rules and regulations that apply to them. Additionally, these requirements can change over time, so staying informed about any updates in audit requirements is essential.<\/p>\n

Statutory Audit Procedure<\/span><\/strong><\/p>\n

The statutory audit procedure is a structured series of steps that auditors follow to examine a company\u2019s financial statements and records to ensure their accuracy and compliance with applicable laws and regulations. Here is an overview of the typical steps involved in the statutory audit procedure:<\/p>\n

\u2013 Acceptance and Planning:<\/span><\/strong><\/p>\n

\u00a0<\/span>Acceptance of Engagement:<\/span><\/strong> The audit engagement is formally accepted by the audit firm, and an engagement letter is issued to the client, outlining the scope, objectives, and responsibilities of both parties.<\/p>\n

\u00a0<\/span>Understanding the Business:<\/span><\/strong> The audit team gains a thorough understanding of the audited entity\u2019s business operations, industry, and specific risks.<\/p>\n

\u00a0<\/p>\n

\u2013 Risk Assessment:<\/span><\/strong><\/p>\n

\u00a0<\/span>Risk Identification:<\/span><\/strong> The auditors identify and assess the risks associated with the organization, including financial, operational, and compliance risks.<\/p>\n

\u00a0<\/span>Materiality Assessment:<\/span><\/strong> Auditors determine the materiality threshold, which helps them decide which transactions and balances to focus on during the audit.<\/p>\n

\u00a0<\/p>\n

\u2013 Internal Control Evaluation:<\/span><\/strong><\/p>\n

\u00a0<\/span>Internal Control Assessment:<\/span><\/strong> Auditors evaluate the effectiveness of the entity\u2019s internal controls. This assessment helps determine the extent of substantive testing required.<\/p>\n

\u00a0<\/span>Control Testing:<\/span><\/strong> If weaknesses in internal controls are identified, auditors may perform control testing to assess the impact on the audit procedures.<\/p>\n

\u00a0<\/p>\n

\u2013 Audit Planning:<\/span><\/strong><\/p>\n

\u00a0<\/span>Audit Plan:<\/span><\/strong> A detailed audit plan is developed, outlining the scope, objectives, and procedures for the audit. It includes the selection of audit testing methods and sampling techniques.<\/p>\n

\u00a0<\/span>Material Account Balances:<\/span><\/strong> Auditors identify and prioritize material account balances for substantive testing.<\/p>\n

\u2013 Substantive Testing:<\/span><\/strong><\/p>\n

\u00a0<\/span>Testing Transactions:<\/span><\/strong> Auditors perform substantive tests, such as testing a sample of transactions, to verify the accuracy and completeness of financial data.<\/p>\n

\u00a0<\/span>Analytical Procedures:<\/span><\/strong> Auditors use analytical procedures to assess the reasonableness of financial information and identify any unusual trends or discrepancies.<\/p>\n

\u00a0<\/span>Confirmation:<\/span><\/strong> External confirmations may be sent to third parties, such as customers and suppliers, to verify balances and transactions.<\/p>\n

\u2013 Audit Evidence:<\/span><\/strong><\/p>\n

\u00a0<\/span>Audit Documentation:<\/span><\/strong> All audit work is documented in detail, including the procedures performed, evidence obtained, and conclusions reached.<\/p>\n

\u00a0<\/span>Audit Working Papers:<\/span><\/strong> These documents serve as the basis for the audit report and provide a record of the audit process.<\/p>\n

\u2013 Financial Statements Review:<\/span><\/strong><\/p>\n

\u00a0<\/span>Review of Financial Statements<\/span><\/strong>: Auditors review the audited entity\u2019s financial statements for compliance with accounting standards and regulations.<\/p>\n

\u00a0<\/span>Adjusting Entries:<\/span><\/strong> If material misstatements are identified, auditors work with the client to make necessary adjustments.<\/p>\n

\u2013 Audit Report Preparation:<\/span><\/strong><\/p>\n

\u00a0<\/span>Audit Findings:<\/span><\/strong> Auditors summarize their findings, including any significant issues or exceptions, and assess the overall fairness of the financial statements.<\/p>\n

\u00a0<\/span>Audit Report:<\/span><\/strong> Auditors issue an audit report that includes an opinion on whether the financial statements present a true and fair view and whether they comply with relevant accounting standards and regulations.<\/p>\n

\u2013 Management Representation:<\/span><\/strong><\/p>\n

\u00a0<\/span>Management Letter:<\/span><\/strong> Auditors may issue a management letter to the client, providing recommendations for improving internal controls, accounting practices, or compliance procedures.<\/p>\n

\u2013 Final Review and Sign-Off:<\/span><\/strong><\/p>\n

\u00a0<\/span>Audit Review:<\/span><\/strong> A senior member of the audit team reviews the audit documentation and findings to ensure completeness and accuracy.<\/p>\n

\u00a0<\/span>Audit Sign-Off:<\/span><\/strong> The audit report is signed by the audit partner or a senior member of the audit firm, indicating its finalization.<\/p>\n

\u2013 Audit Committee and Shareholder Communication:<\/span><\/strong><\/p>\n

\u00a0<\/span>Audit Committee Meeting:<\/span><\/strong> Auditors may meet with the client\u2019s audit committee to discuss audit findings and recommendations.<\/p>\n

\u00a0<\/span>Shareholder Communication:<\/span><\/strong> The audited financial statements, along with the audit report, are communicated to the organization\u2019s shareholders or stakeholders.<\/p>\n

\u2013 Follow-up and Reporting:<\/span><\/strong><\/p>\n

\u00a0<\/span>Completion of the Audit: <\/span><\/strong>The audit engagement is officially completed, and all necessary reports and documentation are filed.<\/p>\n

\u00a0<\/span>Submission to Regulatory Authorities:<\/span><\/strong> In some cases, the audit report may need to be submitted to regulatory authorities as required by law.<\/p>\n

It\u2019s important to note that the statutory audit procedure may vary based on the specific requirements of the jurisdiction, the industry in which the organization operates, and the size and complexity of the entity being audited. Auditors are responsible for conducting the audit by professional auditing standards and adhering to local regulations and reporting requirements.<\/p>\n<\/body>","protected":false},"excerpt":{"rendered":"

\u00a0 Statutory Audit A statutory audit, or an external or financial audit, is an independent examination of a company\u2019s financial statements and records to ensure their accuracy and compliance with applicable laws and regulations. These audits are required by law or regulation for certain entities, such as corporations, government agencies, non-profit organizations, and other entities … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":497,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[30],"tags":[],"class_list":["post-495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-consulting-firm"],"yoast_head":"\n\u00a0 Statutory Audit - Komplytek Blogs<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/komplytek.com\/blogs\/statutoryaudit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u00a0 Statutory Audit - Komplytek Blogs\" \/>\n<meta property=\"og:description\" content=\"\u00a0 Statutory Audit A statutory audit, or an external or financial audit, is an independent examination of a company\u2019s financial statements and records to ensure their accuracy and compliance with applicable laws and regulations. These audits are required by law or regulation for certain entities, such as corporations, government agencies, non-profit organizations, and other entities ... Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/komplytek.com\/blogs\/statutoryaudit\/\" \/>\n<meta property=\"og:site_name\" content=\"Komplytek Blogs\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/komplytek\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-19T09:40:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-19T09:41:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/komplytek.com\/blogs\/wp-content\/uploads\/2023\/09\/5695490.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"2000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@KompLytek\" \/>\n<meta name=\"twitter:site\" content=\"@KompLytek\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/statutoryaudit\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/statutoryaudit\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/#\\\/schema\\\/person\\\/867b7cc32026889456bde8a5f1c346a4\"},\"headline\":\"\u00a0 Statutory Audit\",\"datePublished\":\"2023-09-19T09:40:29+00:00\",\"dateModified\":\"2023-09-19T09:41:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/statutoryaudit\\\/\"},\"wordCount\":1561,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/statutoryaudit\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/komplytek.com\\\/blogs\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/5695490.jpg?fit=2000%2C2000&ssl=1\",\"articleSection\":[\"Business Consulting Firm\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/komplytek.com\\\/blogs\\\/statutoryaudit\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/statutoryaudit\\\/\",\"url\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/statutoryaudit\\\/\",\"name\":\"\u00a0 Statutory Audit - Komplytek Blogs\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/statutoryaudit\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/statutoryaudit\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/komplytek.com\\\/blogs\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/5695490.jpg?fit=2000%2C2000&ssl=1\",\"datePublished\":\"2023-09-19T09:40:29+00:00\",\"dateModified\":\"2023-09-19T09:41:37+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/statutoryaudit\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/komplytek.com\\\/blogs\\\/statutoryaudit\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/statutoryaudit\\\/#primaryimage\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/komplytek.com\\\/blogs\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/5695490.jpg?fit=2000%2C2000&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/komplytek.com\\\/blogs\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/5695490.jpg?fit=2000%2C2000&ssl=1\",\"width\":2000,\"height\":2000},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/statutoryaudit\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"\u00a0 Statutory Audit\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/#website\",\"url\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/\",\"name\":\"Komplytek Blogs\",\"description\":\"Komplytek Blogs\",\"publisher\":{\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/#organization\",\"name\":\"Komplytek Blogs\",\"url\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/komplytek.com\\\/blogs\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/cropped-Komplytek-logo.png?fit=238%2C71&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/komplytek.com\\\/blogs\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/cropped-Komplytek-logo.png?fit=238%2C71&ssl=1\",\"width\":238,\"height\":71,\"caption\":\"Komplytek Blogs\"},\"image\":{\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/komplytek\",\"https:\\\/\\\/x.com\\\/KompLytek\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/#\\\/schema\\\/person\\\/867b7cc32026889456bde8a5f1c346a4\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/edd338ccf0adb3d38fca12276b8469fdf9710fcccd3297f3b9e8cb79bb60d7db?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/edd338ccf0adb3d38fca12276b8469fdf9710fcccd3297f3b9e8cb79bb60d7db?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/edd338ccf0adb3d38fca12276b8469fdf9710fcccd3297f3b9e8cb79bb60d7db?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"https:\\\/\\\/komplytek.com\\\/blogs\"],\"url\":\"https:\\\/\\\/komplytek.com\\\/blogs\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"\u00a0 Statutory Audit - Komplytek Blogs","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/komplytek.com\/blogs\/statutoryaudit\/","og_locale":"en_US","og_type":"article","og_title":"\u00a0 Statutory Audit - Komplytek Blogs","og_description":"\u00a0 Statutory Audit A statutory audit, or an external or financial audit, is an independent examination of a company\u2019s financial statements and records to ensure their accuracy and compliance with applicable laws and regulations. These audits are required by law or regulation for certain entities, such as corporations, government agencies, non-profit organizations, and other entities ... Read more","og_url":"https:\/\/komplytek.com\/blogs\/statutoryaudit\/","og_site_name":"Komplytek Blogs","article_publisher":"https:\/\/www.facebook.com\/komplytek","article_published_time":"2023-09-19T09:40:29+00:00","article_modified_time":"2023-09-19T09:41:37+00:00","og_image":[{"width":2000,"height":2000,"url":"https:\/\/komplytek.com\/blogs\/wp-content\/uploads\/2023\/09\/5695490.jpg","type":"image\/jpeg"}],"author":"admin","twitter_card":"summary_large_image","twitter_creator":"@KompLytek","twitter_site":"@KompLytek","twitter_misc":{"Written by":"admin","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/komplytek.com\/blogs\/statutoryaudit\/#article","isPartOf":{"@id":"https:\/\/komplytek.com\/blogs\/statutoryaudit\/"},"author":{"name":"admin","@id":"https:\/\/komplytek.com\/blogs\/#\/schema\/person\/867b7cc32026889456bde8a5f1c346a4"},"headline":"\u00a0 Statutory Audit","datePublished":"2023-09-19T09:40:29+00:00","dateModified":"2023-09-19T09:41:37+00:00","mainEntityOfPage":{"@id":"https:\/\/komplytek.com\/blogs\/statutoryaudit\/"},"wordCount":1561,"commentCount":0,"publisher":{"@id":"https:\/\/komplytek.com\/blogs\/#organization"},"image":{"@id":"https:\/\/komplytek.com\/blogs\/statutoryaudit\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/komplytek.com\/blogs\/wp-content\/uploads\/2023\/09\/5695490.jpg?fit=2000%2C2000&ssl=1","articleSection":["Business Consulting Firm"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/komplytek.com\/blogs\/statutoryaudit\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/komplytek.com\/blogs\/statutoryaudit\/","url":"https:\/\/komplytek.com\/blogs\/statutoryaudit\/","name":"\u00a0 Statutory Audit - Komplytek Blogs","isPartOf":{"@id":"https:\/\/komplytek.com\/blogs\/#website"},"primaryImageOfPage":{"@id":"https:\/\/komplytek.com\/blogs\/statutoryaudit\/#primaryimage"},"image":{"@id":"https:\/\/komplytek.com\/blogs\/statutoryaudit\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/komplytek.com\/blogs\/wp-content\/uploads\/2023\/09\/5695490.jpg?fit=2000%2C2000&ssl=1","datePublished":"2023-09-19T09:40:29+00:00","dateModified":"2023-09-19T09:41:37+00:00","breadcrumb":{"@id":"https:\/\/komplytek.com\/blogs\/statutoryaudit\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/komplytek.com\/blogs\/statutoryaudit\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/komplytek.com\/blogs\/statutoryaudit\/#primaryimage","url":"https:\/\/i0.wp.com\/komplytek.com\/blogs\/wp-content\/uploads\/2023\/09\/5695490.jpg?fit=2000%2C2000&ssl=1","contentUrl":"https:\/\/i0.wp.com\/komplytek.com\/blogs\/wp-content\/uploads\/2023\/09\/5695490.jpg?fit=2000%2C2000&ssl=1","width":2000,"height":2000},{"@type":"BreadcrumbList","@id":"https:\/\/komplytek.com\/blogs\/statutoryaudit\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/komplytek.com\/blogs\/"},{"@type":"ListItem","position":2,"name":"\u00a0 Statutory Audit"}]},{"@type":"WebSite","@id":"https:\/\/komplytek.com\/blogs\/#website","url":"https:\/\/komplytek.com\/blogs\/","name":"Komplytek Blogs","description":"Komplytek Blogs","publisher":{"@id":"https:\/\/komplytek.com\/blogs\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/komplytek.com\/blogs\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/komplytek.com\/blogs\/#organization","name":"Komplytek Blogs","url":"https:\/\/komplytek.com\/blogs\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/komplytek.com\/blogs\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/komplytek.com\/blogs\/wp-content\/uploads\/2021\/10\/cropped-Komplytek-logo.png?fit=238%2C71&ssl=1","contentUrl":"https:\/\/i0.wp.com\/komplytek.com\/blogs\/wp-content\/uploads\/2021\/10\/cropped-Komplytek-logo.png?fit=238%2C71&ssl=1","width":238,"height":71,"caption":"Komplytek Blogs"},"image":{"@id":"https:\/\/komplytek.com\/blogs\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/komplytek","https:\/\/x.com\/KompLytek"]},{"@type":"Person","@id":"https:\/\/komplytek.com\/blogs\/#\/schema\/person\/867b7cc32026889456bde8a5f1c346a4","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/edd338ccf0adb3d38fca12276b8469fdf9710fcccd3297f3b9e8cb79bb60d7db?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/edd338ccf0adb3d38fca12276b8469fdf9710fcccd3297f3b9e8cb79bb60d7db?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/edd338ccf0adb3d38fca12276b8469fdf9710fcccd3297f3b9e8cb79bb60d7db?s=96&d=mm&r=g","caption":"admin"},"sameAs":["https:\/\/komplytek.com\/blogs"],"url":"https:\/\/komplytek.com\/blogs\/author\/admin\/"}]}},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/komplytek.com\/blogs\/wp-content\/uploads\/2023\/09\/5695490.jpg?fit=2000%2C2000&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/komplytek.com\/blogs\/wp-json\/wp\/v2\/posts\/495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/komplytek.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/komplytek.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/komplytek.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/komplytek.com\/blogs\/wp-json\/wp\/v2\/comments?post=495"}],"version-history":[{"count":2,"href":"https:\/\/komplytek.com\/blogs\/wp-json\/wp\/v2\/posts\/495\/revisions"}],"predecessor-version":[{"id":498,"href":"https:\/\/komplytek.com\/blogs\/wp-json\/wp\/v2\/posts\/495\/revisions\/498"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/komplytek.com\/blogs\/wp-json\/wp\/v2\/media\/497"}],"wp:attachment":[{"href":"https:\/\/komplytek.com\/blogs\/wp-json\/wp\/v2\/media?parent=495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/komplytek.com\/blogs\/wp-json\/wp\/v2\/categories?post=495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/komplytek.com\/blogs\/wp-json\/wp\/v2\/tags?post=495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}