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Internal audit report

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Priya (Querist)
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17 June 2013 Sir/ mam

is it mandatory to place internal audit report in the board meeting if the same has been considered by the audit committee?

Minutes of such audit committee are duly placed in the board meeting for approval but again placing of internal audit report in front of all board members is a pre-requisite?

as per my understanding, though every board member has a right to knw the internal audit report but keeping it again defeats the purpose of forming audit committee for such matters. pls advice

Ankit

Ankit (Expert)
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17 June 2013 No Sakshi,

I dont think there is a formal requirement of placing the Internal Audit report at the BM.

since the same is placed before the ACM, and the same is ratified by the Board, it is as good as placed before the BM

Priya

Priya (Querist)
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17 June 2013 perfect, thank you for the clarification Sir.

Ankit

Ankit (Expert)
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17 June 2013 you are welcome Sakshi...:)

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