Internal audit

Hi friends

I have a doubt regarding the internal audit department in a Limited company.

01.Whether internal audit head should compulsorily hold a qualification ?

02.If yes , wats the basic qualification ?

03.If internal audit head can be a company staff ?

04.If the person does not hold any qualification but with the experience in a same company can be a internal audit head ?

Pls clarrify my doubts and so thankful to all the friends in advance.

 

Replies (1)
Q1. Not necessary to have Proff qualification Relevant Coomerce qualification is Suffiecient Q2 No such prescribed qualification is there but Graduation in commerce would be better. Q3 It depends on the company policy to have an in house Internal Audit or outsource it to a CA firm Q4 Technically he can hold the position of IA with experience but for fuctionality purposes it would be better to have a good Qualification

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