Statutory aduit is basically verified or certified by the CA that the book of accounts are maintained as per enactment of the law or as per custom of the entity who have not followed Accounting standard & other law near there to
statutory audit is an audit whcih is conducted by a person or a firm in whcih all the partners are member of ICAI and holding Certificate of practice, statutory auditor is basically responsible for reporting on mistakes , errors which they find during the course of audit.
Statutory audit is done by chartered Accountants, to verify the financial statement's fairness and it is done annually.It ensures that, to the best knowledge of the auditors, financial statements are free from any misrepresentations and frauds.
statutory audit is comulsory audit OR audit by law is called statutory audit. it is also called internal audit. it is done by independant charter accountant. statutory audit investigate the fraud and mistakes in the companies financial satatements...
Statutory Audit is audit done by CA firm on annual basis. It is audit done by external auditors which are appointed by the organisation in their AGM.They look for whether balancesheet represents true and fair view as per AS issued by the ICAI or as per their related By-Laws.