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Question: What is statutory audit?

Answer: It is a compulsory audit done by a CA.



Category Business Audit Interview Questions & Answers - Exam Mode / Learning Mode
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Question: What is statutory audit?
Answer:

It is a compulsory audit done by a CA. Source: CoolInterview.com

Answered by: BALA | Date: 9/12/2008 | Contact BALA Contact BALA

Finance Audit conduct by the CA to compliance the legal requirements of monitory issues. Source: CoolInterview.com

Answered by: Saeed Mahr | Date: 11/8/2008 | Contact Saeed Mahr Contact Saeed Mahr

Statutory audit is performed by the external auditor.It is totally opposite of internal audit statutory auditors are appointed only at a.g.m of the company. Source: CoolInterview.com

Answered by: ashish sharma | Date: 1/17/2009 | Contact ashish sharma Contact ashish sharma

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 Source: CoolInterview.com

Answered by: CA MBA Rakhit Jain | Date: 3/2/2009 | Contact CA MBA Rakhit Jain Contact CA MBA Rakhit Jain

statuatory audit is nothing but compulsory audit Source: CoolInterview.com

Answered by: ravindra | Date: 3/23/2009 | Contact ravindra Contact ravindra

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 Source: CoolInterview.com

Answered by: sujatha | Date: 5/18/2009 | Contact sujatha Contact sujatha

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. Source: CoolInterview.com

Answered by: Gurwant Singh | Date: 7/14/2009 | Contact Gurwant Singh Contact Gurwant Singh

statuatory audit is external audit but internal audit is valuable for com. Source: CoolInterview.com

Answered by: pritam garg | Date: 12/9/2009 | Contact pritam garg Contact pritam garg

statuatory audit is external audit but internal audit is valuable for com. Source: CoolInterview.com

Answered by: pritam garg | Date: 12/9/2009 | Contact pritam garg Contact pritam garg

Statutory audit is just compliance of the legal requirement.
in statutory audit auditors has to comment on the true and fair view of the financial statements of the entity. Source: CoolInterview.com

Answered by: CA Hitesh Jain | Date: 12/14/2009 | Contact CA Hitesh Jain Contact CA Hitesh Jain

Statutory audit is just compliance of the legal requirement.
in statutory audit auditors has to comment on the true and fair view of the financial statements of the entity. Source: CoolInterview.com

Answered by: Sona | Date: 3/22/2010 | Contact Sona Contact Sona

An audit which the statute mandates is statutory audit Source: CoolInterview.com

Answered by: Harshal Jivani | Date: 5/4/2010 | Contact Harshal Jivani Contact Harshal Jivani

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. Source: CoolInterview.com

Answered by: CA Akanksha | Date: 5/8/2010 | Contact CA Akanksha Contact CA Akanksha

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... Source: CoolInterview.com

Answered by: tasawar rehman | Date: 5/29/2010 | Contact tasawar rehman Contact tasawar rehman

Only C.A. has right to conduct statutory audit. It happens only when the books of account is not maintained as per the accounting standard. Source: CoolInterview.com

Answered by: Dipesh | Date: 5/31/2010 | Contact Dipesh Contact Dipesh

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. Source: CoolInterview.com

Answered by: CA Rupa Sharma | Date: 8/6/2010 | Contact CA Rupa Sharma Contact CA Rupa Sharma

Statutory Audit is a compulsory audit done yearly by a register external auditor. Source: CoolInterview.com

Answered by: Omar kofa Komora | Date: 8/8/2010 | Contact Omar kofa Komora Contact Omar kofa Komora


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