13 August 2013
Please find below point of distinction:
1. Statutory audit is covered under section 224 whereas special audit is covered under section 233A of companies act, 1956. 2. Statutory auditor is appointed by shareholders whereas special auditor is appointed by Central government under section 233A of companies act, 1956. 3. Statutory audit is compulsory for every company under section 224 whereas special audit is ordered only when affairs of any company are not being managed in accordance with sound business principles or prudent commercial practices. 4. Statutory auditor submit his report to the shareholders whereas special auditor submit his report to the Central government under section 233A of companies act, 1956.
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