- Statutory Audit -
Statutory Audi is a compulsory audit prescribed under state Law.Appointment of Auditors removal remuneration rights duties liabilities are governed as per the provisions of the respective law applicable to the organization.Scope of the audit work and all other terms are laid down by the law.It can be conducted only by the Qualified Professional Auditor.
2.Private Audit
Private Audit are carried out at the behest of interested parties and not to fulfill statutory requirements.The terms and conditions between client and the auditor define the scope of latter's work Sole Proprietors,Partnership Firms,certain individuals get the accounts audited for the various reason.Some of these are to meet the requirements laid down by internal rules and regulations to ensure the reliability of financial statements and derive related advantages.
2.Private Audit
Private Audit are carried out at the behest of interested parties and not to fulfill statutory requirements.The terms and conditions between client and the auditor define the scope of latter's work Sole Proprietors,Partnership Firms,certain individuals get the accounts audited for the various reason.Some of these are to meet the requirements laid down by internal rules and regulations to ensure the reliability of financial statements and derive related advantages.
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