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
Menu
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.
Recent Topics :
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
- Register on Income Tax as CA
- Deduction In Employee Provident Fund
- This is a gift for all Chartered Accountants and P
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Wallet query for GST.
- 25-26 exempted sales
- Hotel stay below Rs.1000/- GST applicable or exemp
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
Related Topics :
CAclubindia
