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  • INTERVIEW QUESTIONS AUDIT DETAILS
    Question :
    Explain the difference between internal audit and statutory audit?
    Category Audit Interview Questions
    Rating (1.3) By 127 users
    Added on 9/11/2009
    Views 1488
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    Answers:

    An internal audit is one which is conducted by the internal auditors of the company. It is not mandatory for the company and the company just conducts it to keep a check on the operations of the company. On the other hand statutory audit is very important because it is by the external auditors and it is mandatory for all kinds of companies. Statutory audit is usually conducted for various purposes like tax regulatory requires it for taxation purposes.



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