Difference between company audit and cooperative audit
Answers
Answer:Cooperative audit is a close examination of financial transaction maintenance of books of accounts documents and other records of business and includes an inquiry into the affairs of the society in order to as certain the correctness of accounts and the extent to which its activities we're useful in promoting balance
company audit means the balance
sheet and profit and loss account or income cash flow statement of company shall be caused to be audit by the auditor of the company as in the company act provided and the auditor's report shall be attacked and the report shall be read me for the companies meeting
Concept introduction:
Audit is official inspection of the financial file of an organization. So, it is very important for seeing the growth or demolish of a company or any organization or a type of institution.
Given:
Here the question given to us is to write about the difference between company audit and cooperative audit.
To find:
We have to write the difference between company audit and cooperative audit.
Solution:
In a company, the profits are distributed among members by way of dividend which varies according to the amount of capital by individual members. But a cooperative society does not distribute its profit according to the capital held by the shareholders.