Internal audit

The following class of companies shall be required to appoint an internal auditor:
.
(a) every listed company
.
(b) every unlisted public company having:
.
(i) paid up share capital of Rs. 50 crore/more during the preceding FY; or
.
(ii) turnover of Rs. 200 crore/more during the preceding FY; or
.
(iii) outstanding loans/borrowings from banks/public financial institutions exceeding Rs. 100 crore/more at any point of time during the preceding FY; or
.
(iv) outstanding deposits of Rs. 25 crore/more at any point of time during the preceding FY; and
.
(c) every private company having:
.
(i) turnover of Rs. 200 crore/more during the preceding FY; or
.
(ii) outstanding loans/borrowings from banks/public financial institutions exceeding Rs. 100 crore/more at any point of time during the preceding FY
.
- Refer to Rule 13 of the Companies (Accounts) Rules, 2014