Statutory Audit

Statutory Audit is an annual compulsory audit of accounting and financial reporting of a business. The statutory audit shall be only provided by audit organizations. Statutory audit is compulsory only for organizations that meet the criteria stipulated by the legislation.
The aim of the statutory audit is to confirm officially the authenticity of company’s accounting.
The Statutory Audit shall be undertaken in cases stipulated by legal regulatory instruments.

If you are confident in the quality of your accountancy and you only need to receive an audit conclusion confirming the basic balance sheet accounts without assessing tax imputation, the cost of audit will be much lower.