Question

Differentiate between a statutory report and a non-statutory report.

Answer 1

Sr. No.	Basis	Statutory Report	Non-Statutory Report
1.	Meaning	A report that must be written and submitted in accordance with the law.	A voluntary report that is prepared when necessary but not mandated by law.
2.	Legal Obligation	Statutory provisions such as the Companies Act require it.	It is not required by law to be prepared.
3.	Authority	Submitted to shareholders, regulatory agencies, or government authorities.	Submitted to private stakeholders, internal departments, or management.
4.	Examples	Statutory Report under the Companies Act.	Sales Report, Market Research Report, etc.