Appointment of internal auditor u/s 138 of the companies act

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AKASH (Querist)
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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

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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.

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AKASH

AKASH (Querist)
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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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