Question

an audit by qualified persons which is a compulsory requirement under act is known as​

Answer 1

A Tax Audit is an audit, made compulsory by the Income Tax Act, if the annual gross turnover/receipts of the assessee exceed the specified limit. Simply Tax Audit means, an audit of matters related to tax.

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Answer 2

Answer:Statutory audit

Explanation:

A tax audit is an examination of the books of accounts kept by a business for the purpose of meeting the requirements of the Income Tax Act.

Statutory audit means an audit required by any law.