Answer / ca sreedhar

Audit of an enterprise according to the Statute under which
such enterprise is registered. For Ex all the limited
companies incorporated under the Companies must have an
audit which is Statutory audit. Similarly Banking Companies
as per Banking Regulations Act, the audit shall be
conducted then such audit is statutory audit. Hence audit
of enterprise under which such an enterprise is registered
is Statutory audit.

Answer / koteswararao

Statutory Auditing means Auditing conducted completely with
Legal acts, and it is accounting police No:1 (Disclosure of
accounts polices).

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