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Statutory audits are reviews of a business or governments financial records as required by law. Non-statutory are audits not required by legal statute but needed because of some other reason. A non-statutory might be needed if some issue is brought to light such as an irregularity in the way business is being done or perhaps in the case where some type of intentional actions such as an incompetent accountant or even embezzlement was discovered, to find out the extent of the issue.
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What is the difference between statutory and non statutory audits?
what is the difference between statutory audit and non statutory audit.
What are the advantages of non statutory audits?
advantages and disadvantages of non statutory audit
What are the advantages of statutory auditing?
advantages and disadvantages of non statutory audit
What the difference between statutory and non statutory bodies?
A statutory body deals with written law; non-statutory deals with implied law.
What is the difference between statutory and non-statutory diseases?
one is and one isnt
What is a non statutory body?
the difference between edit categories
What is a non-statutory body?
the difference between edit categories
What are and what is the difference between statutory and non statutory rights?
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
What are the situations statutory audit is required?
A statutory audit is required in several situations, including for public companies that must comply with regulatory requirements to ensure transparency and protect investors. It is also mandated for certain private companies that exceed specific thresholds in revenue, assets, or number of employees, as determined by local laws. Additionally, non-profit organizations and government entities may be subject to statutory audits to ensure proper use of funds and compliance with regulations. Overall, the requirement for a statutory audit often depends on jurisdiction and the organization's size and structure.
What is the difference between a A-133 audit and a Non A-133 audit?
An A-133 audit, now referred to as a Uniform Guidance audit, is specifically required for non-federal entities that expend $750,000 or more in federal funds in a fiscal year. It assesses compliance with federal regulations and the effectiveness of internal controls over federal awards. In contrast, a Non A-133 audit may be conducted for organizations that do not meet the federal funding threshold or for other purposes, such as financial statement audits, but it does not focus specifically on compliance with federal grant requirements.
What is statutory and non statutory post?
legal and non legal
Is SEBI a statutory body or non statutory body?
Statutory Body
