public sector audit is different from private sector audit
public sector audit is different from private sector audit
If company wants to go to public for issuance of shares or already issued shares to public then it is statutary requirement to conduct external audit and provide audited accounting statements.
Brenda Porter has written: 'Audit committees in private and public sector corporates in New Zealand'
an audit by an independent organization
Henry A. Butt has written: 'Value for money in the public sector' -- subject(s): Management audit, Management by objectives, Program budgeting, Public Finance
In India this type of HR Audit is a must in each and every public sector organisation and Government organisation or Institutions. So far we are not practicing this exercise. Due to that disinvestment, shutting down and VRS etc are taking place. If this exercise will bring some type of change in each and every employee of the above mentioned organisations. How a public rupee is spending on them is not understanding by the majority of employees. If possible please try this exercise in each government and public sector employee point of view. Thanking you Dr.K.Srinivasa Rao
public sector
A sector in which the public can budget
when the audit is not a statutory requirement , but is conducted at the desire of owners , such an audit is private audit . the audit is conducted primarily forr their own interest. At times the private audit may become a requirement under tax laws , if the turnover exceeds a specified limit. private audit is of the following types : 1 audit of sole proprietorship 2 ,, ,, partnership firms 3 ,, ,, individuals accounts 4 ,, ,, institutions not covered by statutory audit
the public sector necessity
That depends of the laws of the country in which the company is registered. As you have not specified this in your question we can not provide you with a precise answer. Please take care to make your questions precise.