Types of audits
This query is : Resolved
CS Pravin Yadav
(Querist)
17 August 2011
Sir Can you tell me what are the types of audits & when they are applicable..???
CMA Ramesh Krishnan
(Expert)
17 August 2011
1. Statutory audit - compulsory for all in any case
2. Internal audit - applies when companies which CARO applies
3. Tax audit- applies for those applicable section 44AB as per Income tax audit
4. Cost Audit- applicable as per companies act, companies engaging the manufacturing for specified products
5. VAT audit- applicable as per state VAT act
2. Internal audit - applies when companies which CARO applies
3. Tax audit- applies for those applicable section 44AB as per Income tax audit
4. Cost Audit- applicable as per companies act, companies engaging the manufacturing for specified products
5. VAT audit- applicable as per state VAT act
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