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Stat Audit

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(Querist)
21 September 2016 What is Stat Audit?And What are covered under it ie does it cover even vat,excise, or only as per co act,2013?
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Amol S Joglekar

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Amol S Joglekar (Expert)
21 September 2016 Statutory Audit: As the word suggests, the audit conducted in accordance with Statute (e.g. Companies Act, OR Indian Trust Act, Societies Act etc.)
In common parlour, it refers to Company audit under Companies Act.
It inter alia includes many points
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CS RAJESH C.CHOUDHARY

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CS RAJESH C.CHOUDHARY (Expert)
21 September 2016 Pub co having Share Capital 50 Crore or more or having Turnover 250 Crore of more. Statutory Audit is mandatory .




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