0
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
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
What is the meaning of recurring audit?
Aduting after regular intervals
What is the meaning of audit pencil?
A double sided pencil with black and red color, preferred by auditors.
What is the difference between Financial Audit and Cost Audit Describe each of them?
between financial audit and cost audit
Difference between audit plan and audit program?
an audit program may contain several audit plans
What is the process of preparing an audit?
The process of preparation for audit depends on the kind of audit to be performed, it's objective and scope. The scope of the audit is key to the planning process. The planning required or statutory audit is different from internal audit; it also differs from forensic audit?
What is the main difference between public sector audit and private sector audit?
public sector audit is different from private sector audit
What is the main difference between Public Sector Auditing and Private Sector Auditing?
public sector audit is different from private sector audit
How do you say audit in latin?
The meaning of "audit" is "hears."
What is a suffix meaning hearing?
The suffix meaning "hearing" is -acusis.
What is the meaning of 'Audit Management'?
The definition of "Audit Management" is to be responsible for ensuring that board-approved audit directives are implemented by the right people and in the correct way.
What is the meaning of recurring audit?
Aduting after regular intervals
Does every private limited company has statutory audit?
Yes. Sec 224 applies to ever company, whetehr private ot public.
What is statutory audit What is the exact meaning of statutory audit?
A statutory audit is necessary by law for auditing all company’s financial health and records. In the UAE Audit firms in Dubai provide a statutory audit for all companies in UAE to check financial health by reviewing its accounts & accounting activities. Government organizations in the UAE must have their accounts reviewed by statutory auditors. A company’s shareholders can select any qualified statutory audit firm in UAE at the annual general meeting. For more info refer : What is Statutory Audit | How To Do Statutory Audit of A Company In Dubai
What is the meaning of audit pencil?
A double sided pencil with black and red color, preferred by auditors.
What is the meaning of private armistice?
it is an amies like a private detective...
What has the author Brenda Porter written?
Brenda Porter has written: 'Audit committees in private and public sector corporates in New Zealand'
What is the meaning of financial statement level risk?
Financial statement level risks are risks of materials misstatement of the financial statements. These are the same for both audit of financial statements and audit of internal control.
