Operating a business is not about the trading of your products and service with the client and getting paid for it, calculating profit and losses and maintain balance sheet. There are various statutory laws that must have to follow by a business owner. These laws are made by the state and central government and mandatory to follow in order to keep the economic growth of a particular country. Statutory laws may be different for different businesses but the business owners need to find out the laws that govern their business and be compliant with it to avoid the legal penalty. The requirement of a statutory audit is a kind of very mandatory term because of these laws made by the government. It is very essential to have a full-spectrum statutory audit service in place at all time for the smooth running of your business. The purpose of a statutory audit is equivalent to the purpose behind some other kind of audit. And this purpose is to examine whether an organization is givin