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What if Customer comes and Audit You? Or a Company visits and audit his supplier?
First Customer don't have rights to audit any company.
Further, Company don't have rights to audit any supplier. but both can ask coordination each other.
Companies accounts will be Pre-audited by it's own appointed tustable auditors before income tax department of the country.
In a group of companies, there will three types of auditings; (i)pre-audit, every expenditure will be audited before its materialization; (ii) Post audit or internal audit, company's audit department will audit the each and every expenditure to ensure the appropiration; (iii) External Audit, appropriation will audited by auditors of its sister concern.
Income tax department of a country is liable to audit each and every company of the country.
