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Categories >> Accounting >> Audit


 Audit interview questions  Audit Interview Questions (427)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1899)
 Accounting General interview questions  Accounting General Interview Questions (2810)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4360)
 Question Submitted By :: Audit
I also faced this Question!!     Answer Posted By  
# 1
Audit under any statute in a Country(State) is called
statutory audit & Audit under any taxation law is called tax
audit. For example books of accounts are audited under the
Companies Act, 1956 (Statutory Audit) and Financial
Statements of companies are prepared as per the provisions
of this Act. Books are also audited under the Income Tax
Act, 1961 and the income arrived at as per the provisions of
this Act is taxed (Tax Audit).
Is This Answer Correct ?    50 Yes 18 No
H.r. Sreepada Bhagi
# 2
Audit under any statute is called statutory audit. companies act 1956 and income tax act 1961 both are statutes. hence tax audit is also a kind of statutory audit likewise the audit under companies act. but in practice generally we calls audit under income tax act 1961(section 44AB) as a tax audit...however it may also be called a STATUTORY AUDIT... Please carry on this coversation.... 
Is This Answer Correct ?    13 Yes 6 No
Harsh Vardhan Pandey

Other Audit Interview Questions
  Question Asked @ Answers
Define Materiality Concept   7
what is the journal entry for this situation? and why? situation: Gratuity for this year TK1000000,which TK700000 shows in income statement and TK150000 will shown in next 2 year each.(this is a management decision)   1
company A is parental company of company B.if company A pays rent for company B to landlord,What will be the journal entry recorded in the books of company A and company B? Cognizent 2
Expand---------PRSM   1
What is the difference between amalgamation, absorption, liquidation ? Why realisation account is being prepared ?   1
Can we take credit of service tax in manufactruring companies & what is the procedure   4
What are reasons for giving credit note and sales return to customers?   3
whatis auditng Fidelity 3
What motivates you? Ernst-Young 4
what is inventory and how can manage the inventory. what is ledger and what difference in inventory and ledger.   1
does current year losses of rs 500000 prove that a company lacks going concern   5
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