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External auditor and statutory auditors both are the same?

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accounts
92 Points Posted on 14 February 2012

 

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

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On 14 February 2012 at 14:10 Report
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a
875 Points Posted on 27 May 2012

Please reply above the question 

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On 27 May 2012 at 16:39
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self business
52 Points Posted on 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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On 28 May 2012 at 14:48


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