Statutory audit for physiotherapists No, statutory audit is not required for physiotherapists. It is only required for companies, limited liability partnerships, and other entities that register under the Companies Act, 2013. Individuals, including physiotherapists, do not require to get audit. To visit: https://www.incometax.gov.in However, there are some cases where a physiotherapist may require to get… Read More »
Types of Audit Assurance Audit Assurance, There are several types of audit assurance engagements, each providing a different level of assurance to stakeholders. The main types of audit assurance engagements include: Financial Statement Audit: This is the most common type of assurance engagement. It involves an independent auditor examining an organization’s financial statements and providing… Read More »
Statutory and non-Statutory Audit Statutory audit and non-statutory audit are two types of audits that serve different purposes. A statutory audits is a legally required audit that is performed to ensure that a company’s financial statements are accurate and comply with applicable accounting standards and laws. This type of audit is typically conduct by an… Read More »
User Intent Users searching for the difference between statutory audit and cost audit are typically professionals, business owners, finance students, or researchers. They aim to understand the distinct purposes, applications, benefits, and limitations of both audits. This article provides an in-depth yet easy-to-understand comparison of statutory and cost audits. Introduction Audits are essential… Read More »
Statutory Audit and Internal Audit Introduction Auditing is an essential process in financial and operational management, ensuring transparency, accuracy, and compliance. Two primary types of audits conducted in organizations are statutory audit and internal audit. While both serve critical functions, they differ in purpose, scope, and regulatory requirements. Understanding these differences helps businesses optimize their… Read More »