what is the exact work done by internal audit and statutory audit in company.who appoint internal auditor and statutory auditor.,Explian in brifely manner.........
Shyam Kanabar (Article) (160 Points)
14 December 2011what is the exact work done by internal audit and statutory audit in company.who appoint internal auditor and statutory auditor.,Explian in brifely manner.........
Anurag Gupta
(STUDENT)
(103 Points)
Replied 14 December 2011
internal auditOR APPOINTED by MANAGEMENT
STAT AUDITOR APPOINTED BY BOD
Abhijeet Deshpande
(Co-Founder & Manager @ Tax-Yantra)
(1171 Points)
Replied 14 December 2011
Let me correct you Mr Abhijeet,professional qulaification of a internal auditor is not described yet, any employee of the same organisation who the management think is capable enough can be appointed as a internal auditor.If he/she hold other accounting certifications it will be more beneficial.
Internal audit has much broader scope than statuatory audit as in the internal auditor is responsible for the checking the overall functions of the company more importantly ""Internal controls"".
Abhijeet Deshpande
(Co-Founder & Manager @ Tax-Yantra)
(1171 Points)
Replied 15 December 2011
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