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Q. > Please Help: AUDIT
what is statutory audit
answered Aug 04, 2012 by Rambabu Senkarasetti , Guntur
A legally required review of the accuracy of a company's or government's financial records. The purpose of a statutory audit is the same as the purpose of any other audit - to determine whether an organization is providing a fair and accurate representation of its financial position by examining information such as bank balances, bookkeeping records and financial transactions.
answered Aug 04, 2012 by Vikash Kumar Jha , Cuttack
Statutory audit is performed by the external auditor.It is totally opposite of internal audit statutory auditors are appointed only at AGM of the company.
answered Aug 04, 2012 by Vikash Kumar Jha , Cuttack
It is done by the chartered accountant at the year end on the balance sheet items.And also he certified the correct position of the company. It can be done once in the year
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