who is required to get statutory audit done
Audit in India Statutory audit refers to the audit based on the laws applicable on the entity for the time being in force. It is governed by the Indian Accounting Standards (Ind-AS) issued by Institute of Chartered Accountants of India from time to time. A Chartered accountant holding a certificate of practice in India is qualified to be a statutory auditor of an entity. It is mandatory for a company in India to get the Statutory Audit of its financial statements done according to the provisions of Companies Act 2013.[citation needed]