Our Statutory Audit Expertise
Comprehensive statutory audit solutions designed to ensure compliance and build stakeholder trust.
Compliance Assurance
Ensuring adherence to regulatory frameworks and corporate laws applicable to your organization.
- Regulatory compliance
- Corporate governance
- Legal framework adherence
Financial Statement Audit
Providing a true and fair view of your financial position with detailed audit procedures.
- Comprehensive review
- Material misstatement detection
- Fair representation assurance
Internal Controls Review
Evaluating internal controls to identify gaps and recommend improvements.
- Control environment assessment
- Risk identification
- Enhancement recommendations
Tax Audit
Comprehensive tax audit services to ensure compliance with local and international tax laws.
- Tax compliance verification
- Documentation review
- Tax planning recommendations
Audit Reports
Providing audit reports with actionable insights to improve financial transparency and compliance.
- Comprehensive documentation
- Actionable recommendations
- Stakeholder-friendly format
Our Statutory Audit Process
1. Planning
Understanding your business and identifying key areas for audit focus. We develop a comprehensive audit strategy tailored to your organization's specific needs and risk profile.
2. Fieldwork
Detailed examination of financial records, systems, and controls. Our team conducts thorough testing procedures to gather sufficient appropriate audit evidence to support our opinions.
3. Analysis
Analyzing audit findings to identify gaps, risks, and opportunities for improvement. We evaluate the accumulated evidence and assess whether the financial statements are presented fairly.
4. Reporting
Delivering clear and actionable audit reports for stakeholders and regulatory compliance. We communicate significant findings and provide constructive recommendations to enhance your financial processes.
Why Choose Sompalli & Co for Statutory Audits?
Our team brings expertise, thoroughness, and reliability to every statutory audit engagement.
Industry Expertise
Decades of experience in auditing across diverse industries and geographies.
Comprehensive Approach
Thorough audit procedures tailored to meet specific business and regulatory requirements.
Timely Delivery
Meeting deadlines without compromising on the quality of the audit process and outcomes.
Benefits of Our Statutory Audit Services
Credibility Enhancement
Boost stakeholder confidence with independently verified financial statements that enhance your organization's credibility.
Regulatory Compliance
Ensure adherence to relevant laws and regulations, avoiding penalties and maintaining good standing with authorities.
Process Improvement
Identify weaknesses in financial processes and controls, with expert recommendations for operational enhancements.
Better Financing Options
Gain access to improved credit terms and financing opportunities with audited financial statements that lenders trust.
Fraud Detection & Prevention
Minimize fraud risk through systematic examination of financial records and strengthening of internal controls.
Compliance Standards We Cover
GAAP Compliance
Ensuring financial statements adhere to Generally Accepted Accounting Principles for consistency and comparability.
IFRS Standards
Applying International Financial Reporting Standards to meet global accounting requirements for international operations.
Companies Act
Conforming with statutory requirements of the Companies Act to maintain legal compliance for corporate entities.
Tax Regulations
Verifying compliance with relevant tax laws, including income tax, sales tax, and international tax provisions applicable to your business.
Industry-Specific Standards
Addressing specialized regulatory requirements unique to your industry, including sector-specific reporting guidelines and compliance frameworks.
Let's Ensure Your Business Stays Compliant
Partner with Sompalli & Co for reliable and comprehensive statutory audit services that build trust and ensure regulatory compliance.