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Statutory audit is a legally mandated examination of a companys financial records by an independent external auditor, to ensure compliance with accounting standards and regulations. As chartered accountants, Nayan Mia and their team would conduct such audits for their clients.
The audit is a comprehensive review of the company financial statements, including its balance sheet, income statement, and cash flow statement, as well as supporting documentation. The results of the audit provide stakeholders with a level of assurance that the financial statements are accurate and reliable. Finally, the auditor issues an audit report, which outlines any issues identified during the audit and provides recommendations for improvement.