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What are the type of Audits, IT Audit, GST Audit, General Audit ?

Others 429 views 1 replies

I have seen people appending different terms with ‘Audit’, like IT Audit, GST Audit, and General Audit.

 

Correct me if my understanding is wrong on three types of audit ?

 

All three type of audit reports are for annual transactions and submitted once annually only after review, signed by CA, and then uploaded to MCA porta (is the only one Gov body that requires an audit ?) ?

 

  1. General Audit report :- consolidated report of all accounts about all annual business transactions
  2. Income tax Audit report :- only showing a consolidated report of transactions related to Income tax
  3. GST tax Audit report : only showing a consolidated report of transactions related to GST.

 

What are the due dates for all these three types of audit ?

 

IT Audit require if sales turnover > 1 Crore, and due date is 30th September 2023

GST Audit requires if sales turnover > 2 Crore, and what is its due date ?

General Audit when required ? and what is its due date ?

 

Note : I am not mixing ITR and GSTR filing dates with Audit submission dates. ITR and Audit Reports have submitted once annually but GSTR is filed monthly or quarterly depending on the situation. Correct me if my understanding is wrong ?

Replies (1)
Let me explain in brief.
1. Statutory Audit
2. Internal Audit
3. Concurrent Audit
4. CAG AUDIT
1. STATUTORY AUDIT AS PER STATUTE.
2. INTERNAL AUDIT AS PER management requirement.


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