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 ?
The word other professional not defined in the Act who can act as Internal Auditor as board may decide. So in my opinion it can be any person to whom Board deem that he can be appointed as an internal auditor.
Karia Overseas
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T R SOOD & CO
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