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internal audit

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(Querist)
08 May 2017 can a CFO as per law can be appointed as internal auditor of company
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Amol S Joglekar

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Amol S Joglekar (Expert)
09 May 2017 yes, there is no any bar in doing so.
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DHARANI

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DHARANI (Querist)
09 May 2017 isn't it the violation of section 203 of companies act.could u provide for detailed explanation
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Amol S Joglekar

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Amol S Joglekar (Expert)
10 May 2017 Key Managerial Person......do you have any query on this? Please elaborate
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DHARANI

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DHARANI (Querist)
10 May 2017 yes as per the question given In the exam A CFO has been appointed as the Internal auditor...My query is whether he can be appointed and if yes any violation of act is made?
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Amol S Joglekar

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Amol S Joglekar (Expert)
10 May 2017 I answered it already. To my answer you queried about section violation which I could not understand. Hence I requested to elaborate with special reference to section 203.
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DHARANI

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DHARANI (Querist)
10 May 2017 can KMP hold any other office inthe company while in the position of the KMP?
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Amol S Joglekar

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Amol S Joglekar (Expert)
10 May 2017 Key Managerial Person....... can hold. No problem.
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DHARANI

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DHARANI (Querist)
10 May 2017 ok tq sir datz wat I wanted.....
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Amol S Joglekar

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Amol S Joglekar (Expert)
10 May 2017 You are most welcome.
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