External auditor and statutory auditors both are the same?

yuvraj kalambe (accounts) (92 Points)

14 February 2012

"External Auditor" and "Statutory Auditors" both are the same or different, pls commnet

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AUDITOR VINOTHKUMAR (a) (870 Points)
Replied 27 May 2012

Please reply above the question

sanjib (self business) (52 Points)
Replied 28 May 2012

External Auditor" and "Statutory Auditors" both are not

same.

statutory audit is comulsory audit OR audit by law is called statutory audit.
it is also called internal audit.

Only C.A. has right to conduct statutory audit. It happens only when the books of account is not maintained as per the accounting standard.

statutory audit investigate the fraud and mistakes in the companies financial satatements.

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external auditors which are appointed by the organisation in their AGM.

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