Whether 15cb certificn & internal audit be done simultaneous

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 August 2015 Dear Members,

Request your views on the following query :

We are internal auditor for a private limited company and do their Form 15CB certification also.

As per recent budget amendment in Section 288 of the Income tax act which stipulates that an auditor who is not eligible to be appointed as auditor of a company as per the provisions of sub-section (3) of section 141 of the Companies Act, 2013 shall not be eligible for carrying out any audit or furnishing of any report/certificate under any provisions of the Act in respect of that company.

Since we are internal auditor we arenot eligible to be appointed as statutory auditor under the companies act. Hence are we not allowed to issue 15CB certification also?

Amol S Joglekar

Amol S Joglekar (Expert)
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19 August 2015 With effect from 01/06/2015, new explanation has been inserted which is capable of producing confusion.

The explanation relates to "accountant"

Converting 2 negatives into positive : It reads as :Accountant means a CA....etc etc, and includes for the purposes of representing assessee, a person who is not eligible for appointment as auditor...

Internal Auditor can very well sign 15CB.

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