Author: Parveen Kumar, National Head, Assurance.
This article discusses the perceptions, comprehensions, and distinctions between forensic, internal, and statutory audits. It explores the widening “Expectation Gap” between public perception and the role of chartered accountants, focusing on the Indian jurisdiction. The article provides an overview of each type of audit, its objectives, scopes, and regulatory frameworks. It also highlights the increasing scrutiny faced by auditors from various regulators and law enforcement agencies.
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