Author: Instabiz Filings

Introduction to Statutory Audit A statutory audit involves independent financial statement evaluation through auditors who confirm both the accuracy and regulatory and legal compliance of statements.The purpose of a statutory audit is to provide stakeholders with verified assurance about the accuracy of financial statements while documenting their compliance with required legislation and regulations.The necessary conduct of statutory audits derives from various jurisdictional laws, including the Companies Act of the UK (2006) and the Companies Act of India. Key Features of Statutory Audits Auditors must remain independent from the entity being audited to ensure impartial and objective assessments. The financial statements…

The decision related to the selection of the business structure is also a very important one when opening the business in India. It touches upon every aspect of your day-to-day operations, taxes payable, and compliance with it, and your liability. In India, some of the most popular forms of business are:   Limited Liability Partnership (LLP) One Person Company (OPC) Private Limited Company (Pvt Ltd)   Now, in depth, we shall discuss each of these to enable you to make a qualified decision.   Limited Liability Partnership (LLP)   Overview: Limited Liability Partnership was established in the year 2008 under the LLP…