Audit difference

Hi Pankaj,

1. Statutory Audit is a mandatory audit for all companies in India. It means Auditor checks the financial records of the company and give his opinion on the audit report. Whereas Secreterial Audit is only apllicable for certian classes of companies in India. Secreterial Audit means the auditor checks the whether company has properly miantiained all the secreterial records of the company such as board minutes, agm minutes, statutory registers, whether the company has duly complied with all the laws etc 

2. Statutory Audit can be conducted only by a CA in practice. Whereas Secreterial Audit can be conducted only by a CS in practice.

Hope the matter is clear to you.

Regards,

Arjun Rajagopal