A statutory audit is an independent examination of a company’s financial statements to ensure that they are accurate, complete, and comply with legal requirements. The auditor is required by law to report any errors or omissions in the company’s financial records. Statutory audits are typically performed by accounting firms known as “statutory auditors” or “statutory accounting firms”. These companies must be registered with a country's government and adhere to its laws and regulations when performing their audits. 1. Determine Your Needs Statutory audit companies are required to audit the financial statements of many different types of businesses. Their auditors are experts in their field, as they have experience in a number of industries and company structures. Statutory audit companies provide services such as: - Auditing financial statements for publicly traded and privately held corporations - Consulting with management to help them understand the risks associated with the bu...