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A statutory audit is a compulsory audit to be done by a qualified accountant i.e. By the auditor under the relevant companies act and rule. But management audit is done internally by the companies employees and it is not an internal audit.

Answer
Statutory audit is mandatory as per law, here the financial records of the Company along with overall working of business is checked whereas as far as management audit is concerned here the internal financial controls are checked to identity and resolve the internal risks.
Answer
A statutory audit is a legally required review of the accuracy of a company's or government's financial statements and records.where as the management audit assesses the overall management of the company,not the performance of individual managers.
Answer
A statutory audit is a legally required review of the accuracy of a company's or government's financial statements and records.where as the management audit assesses the overall management of the company,not the performance of individual managers.
Answer
Statutory audit is required under law whereas management audit is required by the management of the company.

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