0
What else can I help you with?
What is statutory audit What is the exact meaning of statutory audit?
A statutory audit is a required examination that examines the accuracy of a corporation's or governmental entity's financial accounts and paperwork. The primary goal of this audit is to discover whether a company shows a true and exact picture of its financial standing, achieved through the study of details such as bank funds, accounting records, and financial deals. Objectives of a Statutory Audit Spotting Mistakes Auditors look for any errors in the accounts—whether it's a wrong entry, a missing number, or a simple typing mistake. Catching Fraud They also keep an eye out for anything that looks fishy, like unusual transactions or signs of wrongdoing. Finding Hidden Errors Sometimes mistakes cancel each other out and go unnoticed. Auditors dig in to uncover these kinds of issues too. Fixing Accounting Principle Mistakes If the company has used the wrong accounting method or misunderstood a rule, auditors point it out and help set things right. In India, statutory audits are governed primarily by the Companies Act, 2013 and conducted according to standards set by the Institute of Chartered Accountants of India (ICAI). It's an audit you must have by law, conducted by an independent auditor to protect shareholders, creditors, and the public interest. And if someone wants to understand statutory audits in a more practical way, a lot of students find CA Tushar Makkar’s “Master Blaster of Statutory Audit” course pretty useful.
How do you calculate the statutory reserve of a company?
what are the statutory reserves of a company?
When tata motors held statutory meeting?
Tata Motors held its statutory meeting on October 29, 1945. This meeting was significant as it marked the official commencement of the company’s operations and the introduction of its first vehicle, the Tata 1 Ton truck, which played a crucial role in India's automotive industry. The meeting laid the foundation for Tata Motors' growth and development in the years to follow.
What type of company needs a statutory report?
public company needs a statutory report
What is Statutory Company?
dfgfds
What adjective modifies our company's national sales meeting begins next week?
The adjective that modifies "our company's national sales meeting" is "national." It describes the scope of the sales meeting, indicating that it is related to the entire country. Additionally, "our" acts as a possessive adjective, specifying ownership of the meeting.
What is company meeting?
defination of company meeting
What are the grounds for denial in adverse claim?
Not meeting the statutory requirements to prevail in the claim.
What is a Statutory financial statement?
A statutory financial statement is a financial statement of an insurance company prepared in accordance with statutory accounting standards.
Who appoints the statutory auditors for a company?
shareholders
What is the meaning of statutory company?
statutory co is a company which is passed by a special act by central or state legislature.like-indian railway,icai etc. This co dont required to have its MOA because the rules $ regulation are alredy written in such Act. the audit of such co is conducted by CAG
What is the difference between statutory body and autonomous body?
A statutory body deals with enforcing legislation for a country or state. An autonomous body is a company that regulates its own company law.
