Statutory means by statute. A statute is a law which is written down. Mandatory means you must. A statute make make certain behaviours mandatory, such as stopping for red lights. A court may also make mandatory orders on its own initiative, such as ordering you to complete your end of a contract. Bear in mind this advice applies to common law countries only. The words may have different meanings in other jurisdictions.
what is the difference between statutory audit and non statutory audit.
directory and mandatory
one is and one isnt
A statutory body deals with written law; non-statutory deals with implied law.
the difference between edit categories
the difference between edit categories
Statutory audit is mandatory by statue hence it does not have any turnover limit.
The difference between statutory and non statutory rights is that one is supplied by the government and the other one isn't. Statutory rights are bestowed by particular government to governed people and are relative to specific cultures and governments
Statutory would be those mandated by law, voluntary would be those agreed upon between employer and employee.
Statutory is govern by government legislation while independent are mainly charity organisations
A mandatory relationship is when you HAVE to do it. Kind of like when people are "arranged". An optional relationship is where you have the right to chose.
Answer: legal and statutory reserves There is no difference. Both legal and statutory reserves are reserves that must be maintained by law. The previous answer ("Legal reserves are stipulated by law, while statutory reserves are determined in the Articles of Association (the Statute of a company)") is incorrect: the primary meaning of 'statutes' is 'enacted laws'