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Audit that is made compulsory by law or statute is called statutory audit. In India, the accounts of joint stock companies, banking companies, insurance companies, electricity companies, co-operative societies, trusts and other specified entities are subject to compulsory or statutory audit. The appointment of auditor, manner of audit, contents of audit report and other matters are specifically mentioned under statutory audit. Though, auditing practices are standardized in our country especially in case of statutory audit, still perceptions of auditors on various aspects of compulsory or statutory audit may differ and therefore are required to be examined to determine how far there is similarity in their views with regard to adoption of auditing practices. Furthermore, views of auditors are needed to be evaluated in terms of their contentment level with respect to some of the set auditing standards or norms.
About the author
Renu Gupta travaille comme professeur adjoint au SGGSCC, Université de Delhi, Inde. Elle enseigne depuis environ treize ans. Elle a fait son doctorat dans le domaine bancaire.
