Statutory audit is audit of books of accounts according to requirements of any statute to ensure true and fair view of the accounts as well as compliance with any special requirements of the statute under which audit is undertaken.

In India, every company incorporated under the companies act is required to get its accounts audited by a chartered accountant in practice to ensure true and fair view of the accounts. Further, the auditor has to ensure compliance various provisions of the Companies Act. Statutory audit ensures reliability of annual accounts of the company for various consumers of accounts of the company like government, shareholders, debtors, creditors, bankers etc.