Internal Audit

Dear All,

Please reply to my query:-

As per companies Act 2013, S.138 says internal auditor must be a professional and employee of the company can also be appointed as internal auditor. Now suppose a company which fulfills the required criteria for appointment of internal auditor and appointed Mr.X, employee who happens to be a chartered accountant as internal auditor. Now whether he should not do any other job apart from internal audit or he can do if some other work assigned to him. 

I heard that there is one circular of MCA regarding above but not able to find. Is there any...... Please reply

Regards

Jagadish

Replies (3)
He can do other job but not other audit like stat audit tax audit etc

Yes, he can do other jobs.

Can You tell me where specifically it is mentioned in Act or Rules or Notifications? or in general you are saying. Why I am saying here involves independence, which matters a lot.

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