Use case · Statutory audit· प्रयोग

Statutory audit automation.

Automate Companies Act statutory audits with AI-powered ledger scrutiny, CARO reporting, RPT verification, and compliance testing. 100% transaction coverage.

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The statutory audit challenge

Manual procedures cannot scale from sampling to full population.

Statutory audits demand evidence, clause coverage, and reporting, sampling cannot deliver any of them at speed.

Sampling

2–5% coverage

Most statutory audits still sample a tiny fraction of transactions, leaving sampling risk on the table.

CARO

Manual clause data

CARO 2020 clauses require data extraction across multiple ledgers, each gathered by hand.

RPT

Disclosure gaps

Related party transactions get missed when the relationship list never makes it into the ledger search.

Reporting

Last-minute scramble

Working papers, schedules, and the IAR are compiled in the final 48 hours before sign-off.

How Coraa addresses them

End-to-end automation, from data ingestion to audit report.

Ledger

Automated scrutiny

Analyze 100% of ledger entries for unusual patterns, policy violations, and compliance issues, round-dollar transactions, duplicate entries, unusual account combinations.

CARO 2020

Clause verification

Automated CARO clause verification with supporting evidence and workpapers, fixed asset verification, inventory checks, loans and advances.

RPT

Identification & testing

Identify and verify all related party transactions for compliance, arm's length verification, disclosure compliance, board approval traceability.

Section 197

Director remuneration

Verify director remuneration compliance with Companies Act limits and approvals, remuneration ceilings, board / shareholder approval, disclosure compliance.

Section 185/186

Loans & advances

Complete verification of loans and advances given by the company, terms and conditions review, repayment schedules, security documentation.

Working papers

Audit trail

Auto-generate comprehensive working papers with full audit trails, audit-ready documentation, exception reports with evidence, compliance checklists.

How it works

Data to audit report - in four simple steps.

Step 01

Upload data

Trial balance, ledgers, and supporting documents in any format.

Step 02

AI analysis

Coraa analyzes 100% of transactions, identifies exceptions, and flags compliance issues.

Step 03

Review findings

Review AI-identified exceptions, add notes, and validate findings.

Step 04

Generate reports

Export audit-ready working papers, CARO report, and audit documentation.

Measurable impact

Faster engagements with better quality and coverage.

Faster

70%

Statutory audits completed in days

Coverage

100%

Every transaction, every ledger

Sampling risk

Every exception flagged

Who benefits

Roles served across the lifecycle of the engagement.

Firms

CA firms & audit practices

Complete statutory audits 70% faster while improving audit quality and coverage.

Solo

Solo practitioners

Handle more audit clients without hiring additional staff.

Managers

Audit managers

Reduce review time and focus on high-risk areas and client advisory.

Transform your statutory audit practice

Audits that close themselves.

Free 14-day trial. No credit card. India-hosted. DPDPA compliant.

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