Accounting Standards applicable for conducting Stat Audit

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  1. Dear All,
    In my recent interview, I was asked to name the Accounting Standards for statutory Audit. Upon my telling them that there is no specific accounting standard for statutory audit but a number of accounting standards may be relevant depending upon the nature of the business. But they insisted that there are some specific accounting standards for statutory audit.
    will anyone elaborate this? was I wrong? I was not got through probably for the question I have mentioned above. Please share your thoughts/views.

    Thanks!
     
    Last edited: Feb 3, 2015
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