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Internal audit & statutory audit

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 March 2012 What is difference between internal audit and statutory audit?
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Ratan Sharma

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Ratan Sharma (Expert)
21 March 2012 Internal audit is not mandatory and conducted at the option of owner whereas the statutory audit is compulsory and as per the legal provisions of the act.

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