Tag Archives | Types

Liabilities of a Statutory Auditor | Company | Auditing

The liability of a statutory auditor may be charted as under: 1. Contractual Liability: The Statutory Auditor is liable for nonfulfillment of the terms and conditions of an agreement between him and the company who appoints him. He may be held responsible under the Contract Act ‘in failing to perform the duties’ as laid down […]

Essay on Cost Audit | India | Auditing

Here is an essay on ‘Cost Audit’ especially written for school and college students. Essay # 1. Definition of Cost Audit: 1. “Cost audit is the verification of the correct­ness of cost accounts and of the adherence to the cost accounting plan.” [ICMA Termmology] 2. “Cost audit is an audit of efficiency, of minute details […]

Private and Public Company: Difference | India | Accounting

The upcoming discussion will update you about the differences between private and public company. Difference # Private Company: 1. The minimum number of members required to form a company is two. 2. The maximum number of members must not exceed fifty. 3. It must have two directors. 4. Shares are not freely transferable. 5. It […]

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