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Querist : Anonymous (Querist)

19 July 2012 How is Joint audit different from Branch Audit?

Sanket

Sanket (Expert)
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19 July 2012 Joint audit is audit carried out by two separate auditors who have the assignment of the same client. It may cover different areas or otherwise. The auditors may conduct the audit together or only one may do the same and the liability of both of them is divided. It normally happens in huge companies where 1 single person cannot do the audit of the whole company.

Eg :- ABC and Co. and DEF and Co. are appointed as auditors of XYZ Ltd.

Whereas Branch audit means conducting an audit of 1 or more particular branch(es). It can be internal or statutory. But the verification and restricted to that particular branch only. Branch audit sometimes include joint audit.

Eg:- ABC and Co. are appointed as branch auditors of Mumbai branch of XYZ Ltd.

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Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2012 can i suggest another answer also?