Statutory Audit in India

Statutory audit is a legitimate process that is used to gather financial information reflected through the company’s financial statement like the Profit & Loss Account, Balance sheet and Cash flow statement. Thus, statutory audit gives a realistic view of the company’s mismanagement or fraud assessment, if any, to prevent malpractices and ensure an ethical and transparent system in conducting business.

P K Lakhani & Co. has a professionally managed team with proven expertise in the f ield of financial accounting and management who have been providing advice to wide range of companies with respect to complex accounting procedures in a quick, timely and efficient manner.

P K Lakhani & Co. and Company provides specialized services in Statutory Audit in the following:-

• Preparation of financial statements: P K Lakhani & Co. recognizes the management’s needs for submitting timely financial statements with conformity to the industry practices and rules and regulations. The company assists its clients by helping them prepare financial statements that reflect the client’s fair and transparent dealings while conducting any business transactions. The company assists in preparing financial statements like Cash Flow statement, Profit and Loss Account and Balance sheer for its clients.
• Financial review: It helps in identifying the strengths and weaknesses of the financial accounting procedures and systems of the company. The deficiencies are addressed by suggesting suitable measures for improvement that ensure quality while meeting the industry accounting standards.
• Tax related issues: P K Lakhani & Co. advises companies on various issues related to complicated tax regulations that can have financial implications for the companies. The main objective is to minimize any tax burden for the company allowing them to experience a greater control of their financial position and performance as a stakeholder.