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Internal Audit

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(Querist)
19 June 2010 For which type of entity, internal audit is compulsory.
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Aditya Maheshwari

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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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