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Fundamentals of Auditing by S. K. Basu

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Chapter 2

Types of Audit

2.1 INTRODUCTION

Auditing is a multi-dimensional and comprehensive subject. An effective insight into the nature of auditing can be obtained by understanding the various types of audit, which, together, constitute the auditing discipline. Auditing can be classified from various viewpoints. In this chapter, the detailed classification of audit will be discussed.

2.2 CLASSIFICATION OF AUDIT

An audit can be classified under different groups on the basis of different categories.

2.2.1 Classification of Audit on the Basis of Organisation

Audit is not legally obligatory for all types of business organisation. On the basis of organisational structure, audits may be of two broad categories.

Audit Required Under Law

This type ...

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