A statutory audit is a legally required review of the accuracy of a company's or government's financial statements and records. An audit is an examination of records held by an organization, business, government entity, or individual, which involves the analysis of financial records or other areas.
Stock audit, in general usage is considered as an important auditing term which refers to the physical verification of the inventory. ... In other words, stock audit is a statutory process which every business institution needs to perform at least once in a financial year.
Concurrent audit is a systematic and timely examination of financial transactions on a regular basis to ensure accuracy, authenticity, compliance with procedures and guidelines. The emphasis under concurrent audit is not on test checking but on substantial checking of transactions.
Bank audit means the examination of accounts of the organization to ensure correctness, legality business underwent by the organization in the respective year. Bank audit can be conducted by the internal or external agencies known as the auditors.
What is an Internal Audit? Internal audits evaluate a company's internal controls, including its corporate governance and accounting processes. These audits ensure compliance with laws and regulations and help to maintain accurate and timely financial reporting and data collection.
Revenue Audit
