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internal auditor as statutory auditor

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NEHA (Querist)

06 April 2017 Can an internal after resigning act as a statutory auditor...for exmpl ABC did internal audit for FY 2014-15 and appointed as statutory auditor for FY 2015-16...is it possible... Nothing such mentioned in sec 141... does condition of cooling period of 5 years need to ne applied on it...?

CA Gunjan Shingavi

CA Gunjan Shingavi (Expert)

07 April 2017 itf auditor is to be appointed as the statutory auditor in fy 15-16 then he must fulfill qualifications of Sec 141, and as per Sec 141 it not disqualifies on basis that person so as to be appointed as statutory auditor was an internal auditor in FY 14-15.

so you can appoint ABC as Statutory auditor in FY 15-16 even though he is an Internal Auditor in FY 14-15.

NEHA

NEHA (Querist)

07 April 2017 thnk u Gunjan...

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