: What’s the difference between statutory auditor and other auditors ?

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: What’s the difference between statutory auditor and other auditors ?

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When you hear the word “Statutory” you should think of the root word “statute,” where statute is another word for law. Anything statutory means that it is prescribed by law. So a statutory auditor is performing an audit that is required by a law. For example, state law might require that every city in the state does a statutory audit once per year – the auditors come in and go through the city’s finances to ensure that the city government is using taxpayer money responsibly.