What is internal and statutory Audit and what are the roles
of auditor.
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Answer Posted / peter
Internal auditors are paid by company, to say, they are the
employees of the company. they prepare trading and profit
and loss account and the final balance sheet.
Statutory audit means, the external auditor, who varifies
the books of accounts, which were prepared by internal
auditors and gives his opinion in the audit report, which
is evidence in the court of law.
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