close x
Home > Experts > Audit > CARO Internal Audit

Please Wait ..

to your account


Remember Me | Forgot your password?


Sign-up now

Join and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.

Alternatively, you can log in using:

CARO Internal Audit (Audit)

Report Abuse
This query is : Resolved

( Querist )
04 February 2009

Does the provision of interna audit as stated in CARO i.e.
"in the case of listed companies and/or other companies having a paid-up capital and reserves exceeding Rs.50 lakhs as at the commencement of the financial year concerned, or having an average annual turnover exceeding five crore rupees for a period of three consecutive financial years immediately preceding the financial year concerned, whether the company has an internal audit system commensurate with its size and nature of its business"
is applicable to the subsidiary of listed company.
Do subsidiary of listed company should have Internal Audit System?


( Expert )
04 February 2009

Yes subsidiary should have an internal audit system if is a subsidiary of a listed company and any of the above conditions are satisfied ie turnover or net owned funds.



You need to be the querist or approved CAclub expert to take part in this query .

Click here to login ( Members Login ) now

Similar Resolved Queries :


Quick Links

back to the top