InternalAudit Requirement
This query is : Resolved
26 April 2023
For a Private Limited Company having turnover of Rs.500 CR
My questions is whether Internal audit is compulsory ?
If yes then should it be conducted by Chartered Accountant only ?
My questions is whether Internal audit is compulsory ?
If yes then should it be conducted by Chartered Accountant only ?
26 April 2023
Yes, it's compulsory as turnover exceeds 200 crore.
Chartered accountant or Cost accountant can be appointed.
Chartered accountant or Cost accountant can be appointed.
27 April 2023
yes if the turnover of the Company in the immediately preceeding financial year is 200 crores or more, cost accountant, chartered accountant or any other professional appointed by board may be appointed as internal auditor
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