Internal audit of listed public company
SAHANA J N (PROPRIETOR) (125 Points)
04 June 2016SAHANA J N (PROPRIETOR) (125 Points)
04 June 2016
Jatin Bajaj
(CS)
(2928 Points)
Replied 05 June 2016
aCCORDING TO SECTION 144 OF companies act 2013, an auditor appointed under this act shall provide to the Company only such services as are approved by the Board of Directors of the Companyor the Audit Committee as the case may be but shall not include any of the services which is given by auditor either by himself or through his relative which also includes internal audit.
And as per section 147, if auditor contravens the provisions of section 144 , he shall be punishable with fine of 25000 and extend to 5 lakh.
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)