Dear Sir,
In a large PSU, internal audit is conducted by in-house Internal Audit Department along with the external Audit Firms.
In-house Audit Department Members conduct Internal Audit as per direction and submit Internal Audit Report to the Chairman of the Company
After implementation of Companies Act 2013, whether the members of Audit team may be constituted by only B.Tech/ B.E Engineers ( Not being CA/Cost Accountants) and continue submission of Internal Audit Reports?
After incorporation of Company’s Act 2013 (Section 138), are they (only B.E or B. Tech Engineers) are entitled to conduct Internal Audit of the Company and submit Audit Report.
Can you tell me what is the interpretation of the Company’s Act/Rules for this Section 138.
Yours faithfully,
P. Gangopadhyay
CAclubindia
