statutory audit
This query is : Resolved
Rishab Gupta
(Querist)
24 June 2017
which person is liable to get his books of accounts audited?
CA Rashmi Gandhi
(Expert)
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
(Querist)
24 June 2017
Mam,
isn't this rule applicable for tax audit
or both have same rules..?
CA Rashmi Gandhi
(Expert)
24 June 2017
This rule is for tax audit.
Rishab Gupta
(Querist)
24 June 2017
then what's the rule for statutory audit?
Aswath Raman
(Expert)
26 June 2017
Statutory audit under which act?
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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