Our CA advised to book Internal audit and cost audit fees in ledger of Professional Fees
and Statutory audit fees in Audit Fees
Why can't we book all the above expenses in Audit Fee Only
Please advise with facts
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Internal Audit Fee Expense
Replies (1)
Summary: Your CA advised separating these fees to provide clarity in financial reporting. Statutory audit fees relate to mandatory external audits, whereas internal audit and cost audit fees are often classified as professional or specific compliance-driven expenses. Keeping these ledgers separate improves budgeting transparency and makes it easier for auditors to verify compliance during their review.
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