a) Statutory Audit
b) Non-Statutory Audit
This refers to audits which are mandatory in nature.
i. Audit of companies under law provision of company act
ii. Audit of insurance company
iii. Audit of Banking company
iv. Audit of co-operative societies
Audit to be performed by CA’s and not by any other person
i. These are other than statutory audits
ii. No statutory requirement for Audit
E.g. Sole trader, partnership firm
Trackback from your site.