In the complex world of business and finance, statutory audit services play a crucial role in maintaining transparency, ensuring compliance, and safeguarding stakeholder interests. This comprehensive guide will explore what statutory audit services entail, how they work, the benefits of seeking external statutory audit services, important considerations before engaging an auditor, and the key differences between external and internal statutory audits. What is Statutory Audit Service? A statutory audit service is a legally required examination of an organization's financial records, statements, and operations by an independent, qualified auditor. The primary purpose of a statutory audit is to provide an unbiased...