Company Audit: Company audits are conducted for companies incorporated under the Companies Act in India. They are typically carried out by external auditors who are independent of the company. The audit ensures that the company’s financial statements present a true and fair view of its financial position and performance.

LLP (Limited Liability Partnership) Audit: An LLP is a type of business structure where partners have limited liability. LLPs may be subject to audit based on certain criteria, such as their annual turnover or contribution. The audit is conducted to verify the accuracy of the financial statements and compliance with the LLP Act.

Firm Audit: The term “firm” generally refers to a partnership firm. In the context of a partnership firm, an audit may be conducted to assess the firm’s financial health, compliance with partnership agreements, and adherence to applicable laws.

Proprietorship Audit: A sole proprietorship is a business structure where there is a single owner. While a statutory audit may not be mandatory for a proprietorship under certain thresholds, it is essential to maintain proper financial records and undergo voluntary audits for transparency and credibility.

Partnership Audit: This refers to the audit of a partnership business involving two or more individuals (partners). The audit ensures that the partnership’s financial statements are accurate, and the partners’ interests are protected.