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Statutory audit: is it for every co.?

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 June 2010 Dear Sir,

Is it compulsory for every company to make its accounts audited under statutory audit?
If yes then under which section it is conducted?

Please guide...

Thanks
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Abuzar Azmi

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Abuzar Azmi (Expert)
18 June 2010 Section 224 (1) of the Companies Act, 1956 states that every company whether it is public or private limited shall have an auditor to audit its accounts. The appointment of auditor is mandatory in the Annual General Meeting for the ensuing year.
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
18 June 2010 agreed with Expert Abuzar Azmi
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Ankur Garg

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Ankur Garg (Expert)
18 June 2010 Agree with expert...

Statutory Audit for every company is must as per section 224 of the companies act, 1956.

Regards
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ajay taneja

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ajay taneja (Expert)
18 June 2010 As per section 224 of the companies act, 1956, statutory audit for every company is necessary.

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