Internal audit by ca /cma

Since internal auditor may be an employee of the company, COP may not be mandatory.

Thanks for the reply.  If the CA/CMA is not an employee, should he have COP to be appointed as internal uditor ? The Companies Act mentions about a "qualified " professional and it does not explicitly say that he should have COP.  Can this point be clarified ?

As I understand, COP is not given to a person who is employed

IN DEFINITION INTERNAL AUDITOR CAN BE A ANY OTHER PROFESSIONAL AS BOARD MAY DECIDE. SO AS PER LANGUANGE HE MAY NOT NECESSARY TO BE A COP HOLDER CHARTERED ACCOUNANT.

A CPT fail guy can also be a internal audit, only the Management has the discretion to deside whether he is fit or not.

Surya Prakash Bharunt is rightly said.As per section 138 of Companies Act,internal auditor may be a CA/CMA or any other proffessional  as Board may decide.Further a CA shall be appointed as internal auditor whether he is holding COP or not.

COP not required in case of internal auditor. Even an employee of the company who is a CA, can also be appointed as internal auditor.