26 April 2017
if a ca in service is appointed as an internal auditor of any company then whether he is deemed to be a member in practice u/s 2(2) of ca act 1949??
and if yes whether he will be penalised u/s 24??
27 April 2017
A CA is considered to be in practice only if he has Certificate of Practice and has is doing attestation function. Internal audit does not fall under the attestation function. Thus, a person in service can do internal audit of a company.
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