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Statutory Audit is a mandatory audit done by a CA. Finance Audit is conducted by the CA to compliance the legal supplies of monitory issues. If the audit for a business or an organization is done compulsory by law then such kind of audit is known as statutory audit. The business organization audit is mandatory is like insurance companies, cooperative societies and banking co etc
Valuation - Long Term Contracts The basis of valuation should be cost plus attributable profit as benefits less foreseeable losses and progress payments both receivable and re
Banks Features (a) Profit and loss account: When looking at a bank's profit and loss account the accountant should seek to discover what proportions of the bank's profits
What is audit planning
Provide the data regarding all about auditing of Newspaper agencies
#quInternal Audit checklist for fixed assetsestion..
Develop a list of tasks the auditor should perform in planning this audit engagement, before any audit testing begins. Ans: It is in the interest of both client and auditor t
Need for an Audit Whether you take an example for a modern large liability company, such we can clearly differentiate between those who control those funds the providers of fu
Long-Term Liabilities Long-term liabilities are generally evidenced through an agreement called a debenture. For this purpose, long-term loans are often called debentures. The
Reliability - Sources of evidence Reliability of audit evidence is influenced through its nature and its source and since it is dependent upon the specific circumstances, we c
Co-operative Societies An audit in this case is carried out as a normal audit except you should note that the auditor is appointed by the Commissioner of Co-operatives and alth
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