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प्रश्न
Answer the following question:
Differentiate between a statutory report and a non-statutory report.
उत्तर
Every company incorporated under the companies' act is required to get its accounts audited by a Chartered Accountant in Practice to ensure a true and fair view of the accounts. Further, the auditor has to ensure compliance with various provisions of the Companies Act. Statutory Audit ensures reliability of annual accounts of the company for various consumers of Accounts of the Company like government, shareholders, debtors, creditors, bankers, etc. A non-statutory audit is a review and verification of a company or organization’s business that is not required by either the law or a regulatory agency.
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संबंधित प्रश्न
Briefly explain any four types of reports.
With reference to company meetings, explain the following term:
Statutory Meeting
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Which one of the following reports does Mr. Varma submit?
