WebStatutory Audit Meaning. A statutory audit, also known as a financial audit, is one of the main types of audit to be done as per the statutes applicable to the entity. Its primary … WebFeb 19, 2024 · The purpose of the statutory audit is to determine whether a company is providing an accurate representation of its financial situation by examining the information, such as books of account, bank balance, and financial statements. All public and private limited companies have to undergo a statutory audit.
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