Audit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 January 2012 Sir what is Tax Audit,Internal Audit and Statutory Audit plz explain me....as soon as possible..... thanks for in advance..

CA. Vikash Dwivedi

CA. Vikash Dwivedi (Expert)
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10 January 2012 Tax Audit it the audit conduted under Income tax act and mandatory for those whose turnover exceed the prescribed limit.

Internal Audit the audit conducted by the enterprise it self auditor are employee of the organisation. Internal Audit is mandatory for the enterprise whose capital excees the limit prescribed in the CARO.

Statutory Audit is the once conduted under companies ACt at the end of the financial year.

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