Appointment of internal auditor

R Srinivasan (Costing) (60 Points)

24 March 2016  

As per Companies Act 2013, internal auditor can be a CA/CMA or any other professional as may be decided by the Board.  Is the word "professional" defined ? Can an experienced person ( i.e not a professionally qualified person) , who in the opinionof the Board is capable of handling internal audit , be appointed by Board ?