What is internal audit?


This query is : Resolved 

07 March 2014 under which section it is compulsory and for whom?

07 March 2014 as such there is no section dealing with internal audit except for requirements under CARO on internal control mechanism/Internal audit.

separately, there are different statutes which prescribe internal audits such as BSE/NSE require that there constituent brokers get the internal audit performed by external auditors every quarter.

07 March 2014 however, for producer companies, internal audit is prescribed under section 581ZF of the companies act 1956


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