New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    The audit that is made compulsory under statute is

    called _________.
    A Statutory audit Correct Answer Incorrect Answer
    B Partial audit. Correct Answer Incorrect Answer
    C Complete audit. Correct Answer Incorrect Answer
    D Continuous audit. Correct Answer Incorrect Answer

    Solution

    A statutory audit is made compulsory under statute, which means it is required by law. It involves the independent examination of an entity's financial statements and records to ensure compliance with legal requirements and regulations.

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