Appointment of internal auditor u/s 138 of the companies act
This query is : Resolved
09 November 2017
Sir,
I would like to have kind help from the esteemed professionals on the following matter:-
I am working in CS department of a listed Company where Internal Auditor is being appointed by the Audit Company from FY 2015-16 and a informative note was just placed before the Board and no separate resolution is passed in the Board meeting also.The same thing got repeated for FY 2016-17.
I requested please help me in this matter whether this is a Non-compliance of Companies Act and if yes,please guide on further course of action that can be taken in this case.
Thanks in advance
I would like to have kind help from the esteemed professionals on the following matter:-
I am working in CS department of a listed Company where Internal Auditor is being appointed by the Audit Company from FY 2015-16 and a informative note was just placed before the Board and no separate resolution is passed in the Board meeting also.The same thing got repeated for FY 2016-17.
I requested please help me in this matter whether this is a Non-compliance of Companies Act and if yes,please guide on further course of action that can be taken in this case.
Thanks in advance
09 November 2017
Internal auditors appointment is mandatory for listed companies and such
appointment should be supported by a board resolution. Passing reference in a
meeting will not suffice and if done so it is a violation of the Companies Act,2013.
appointment should be supported by a board resolution. Passing reference in a
meeting will not suffice and if done so it is a violation of the Companies Act,2013.
Message likes :
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09 November 2017
Thanks for your kind reply sir...please guide what can be likely done now
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