Statutory Auditor refers to
The most used external audit standards are the US GAAP of the American Institute of Certified Public Accountants; and the International Standards on Auditing (ISA) developed by the International Auditing and Assurance Standards Board of the International Federation of Accountants.
Definition of 'Statutory Audit' A legally required review of the accuracy of a company's or government's financial records. The purpose of a statutory audit is the same as the purpose of any other audit - to determine whether an organization is providing a fair and accurate representation of its financial position by examining information such as bank balances, bookkeeping records and financial transactions.
