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can statutory auditor be internal auditor of group companies
can statutory auditor be internal auditor of group companies i.e companies under common management, common shareholders but not having any investment in each other i.e not a subsidiary associate relationship.
Replies (3)
no..................
please give refrence to section sub section
Common management is also included in the definition of related parties as per sec 2(76). Since sec 144 of companies act, 2013 specifically prohibits the auditor from accepting appointment as an internal auditor, such an appointment would lead to automatic disqualification from the position of statutory auditor.
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