<P> Social audit is a process of reviewing official records and determining whether state reported expenditures reflect the actual monies spent on the ground . </P> <P> Civil society organisations (CSOs), Non-governmental organization (NGOs), political representatives, civil servants and workers of Dungarpur district of Rajasthan and Anantapuram district of Andhra Pradesh collectively organise such social audits to prevent mass corruption under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). </P> <P> Statutory audit refers to the audit based on the laws applicable on the entity for the time being in force . It is governed by the Indian Accounting Standards (Ind - AS) issued by Institute of Chartered Accountants of India from time to time . A Chartered accountant holding a certificate of practice in India is qualified to be a statutory auditor of an entity . It is mandatory for a company in India to get the Statutory Audit of its financial statements done according to the provisions of Companies Act 2013 . </P> <Ul> <Li> Internal Audit </Li> <Li> Government Audit </Li> <Li> Environmental audit </Li> </Ul>

When does a company need an audit in india
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