Statutory Audit Firm In Noida A statutory audit is a legally required review of a company’s financial statements, conducted by an independent auditor. This process ensures that the financial reports accurately reflect the organization’s financial position and comply with applicable laws and accounting standards, such as International Financial Reporting Standards (IFRS) or Generally Accepted Accounting Principles (GAAP). Purpose of Statutory Audits The primary purpose of a statutory audit is to provide assurance to stakeholders, including investors, creditors, and regulatory bodies, that the financial statements are free from material misstatement. This credibility is crucial for maintaining trust and transparency in financial reporting.