what are the advantages & disadvantages of using variable costing method for internal reporting purposes?(CMA-Dec-2018)

 

 The statutory auditor has to carry out his duties in accordance with standard accounting and auditing practices and provisions of law which govern the organization.

Statutory Audit reports on the financial aspects of an organization indicating whether financial statements show a true and fair view of state of affairs for a particular period.
The statutory auditor must be a Chartered accountant and emphasis is on independent report on financial matters.

Both the internal auditor and the statutory auditor have a common interest as far as
authenticity of the accounts are concerned