my common sense says auditing is carried out to catch understating/overstating of income , creative accounting, verification/ lack of transparency in books,/ financial documentation etc
( which are/can be easily done by normal businesses … everyone knows it )
but in F & O trades there is no scope for any of above malpractices . everything is in black & white with proper financial records & data checks by multiple authorities . everything is carried out digitally . there are no grey areas in other words or chance cooking of book .
why is there need for audit F & O trade ? are we getting the law right ?