STATUTORY AUDITS AND TAXATION

A statutory audit is a legally required review of the accuracy of a company’s (or government’s) financial statements and records. The purpose of a statutory audit is to determine whether an organization is providing a fair and accurate representation of its financial position by examining information such as bank balances, bookkeeping records and financial transactions.
The audit is carried out in line with the various regulatory standard including the International financial reporting standard and the International standards on auditing.