Statutory audit

This query is : Open

Report Abuse Follow Query Ask a Query

Vivek

Vivek (Querist)
Follow

10 March 2016 How and when Statutory audit is done?? What auditor supposed to do in statutory audit??

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
Follow

10 March 2016 Statutory Audit will be done if your Gross turnover exceed one crore. For AY 2016-17 , from AY 2017-18 it will be two crores.

CA will audit Record as per section 44AB
Statutory Audit CA will verify all records and statutory compliance are complied.

Vivek

Vivek (Querist)
Follow

11 March 2016 Thanks but I think there is no threshold limit for statutory audit, it is for tax audit. My question is on statutory audit.

Upgrade to CAclubindia Pro. Subscribe Now!

Vivek

Vivek (Querist)
Follow

11 March 2016 Thanks but there is no threshold limit on statutory audit, it is for tax audit. My question is on statutory audit.

Rahul Magan

Rahul Magan (Expert)
Follow

13 March 2016 Dear Vivek ~ Yes... there is no threshold limit for SA however for Tax Audit there is a limit. You are welcome to connect with me at 91-9899242978 in that regards. Best @ Rahul Magan

Vivek

Vivek (Querist)
Follow

13 March 2016 OK sir I will..