statutory audit

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Rishab Gupta

Rishab Gupta (Querist)
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24 June 2017 which person is liable to get his books of accounts audited?

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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24 June 2017 When his turnover exceeds 1 crore. Or he has declare income less than presumptive income u/s 44AD, 44AE & 44ADA.

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Rishab Gupta

Rishab Gupta (Querist)
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24 June 2017 Mam, isn't this rule applicable for tax audit or both have same rules..?

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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24 June 2017 This rule is for tax audit.

Rishab Gupta

Rishab Gupta (Querist)
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24 June 2017 then what's the rule for statutory audit?

Aswath Raman

Aswath Raman (Expert)
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26 June 2017 Statutory audit under which act?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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13 October 2021 A statutory audit is a legally required check of the accuracy of the financial statements and records of a company or government. A statutory audit is intended to determine if an organisation delivers an honest and accurate representation of its financial position by evaluating information, such as bank balances, financial transactions, and accounting records.

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