Internal Audit
This query is : Resolved
Ved Prakash
(Querist)
19 June 2010
For which type of entity, internal audit is compulsory.
Aditya Maheshwari
(Expert)
19 June 2010
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 and average annual turn over exceeding five crores rupees for a period of three consecutive financial year immediately preceding the financial year concerned, the company should have an internal audit system.
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