Dipok Kumar Roy

A statutory audit is not a demand-driven service. It is a legally mandated regulatory requirement.

Audit practice is governed by two regulatory frameworks. The first consists of domestic laws covering the appointment, reappointment and removal of auditors, the convening and adjournment of AGMs, auditor rights and powers, and statutory requirements for financial statements. In practice, International Financial Reporting Standards are applied to ensure global alignment in content and disclosures.