can any please tell me the capital slap of the bank above which the internal auditor is compulsory in the bank
Amita Panchal (Service in Finance) (46 Points)
31 May 2009can any please tell me the capital slap of the bank above which the internal auditor is compulsory in the bank
CA P KARTHIKA
(Chartered Accountant)
(715 Points)
Replied 03 June 2009
Internal Audit is optional even if the entity or company is under the slab as they opt for reviewing the efficient and effective control in the business and to detect fraud or errors prevailing as a check out! For Banking and Non-Banking Companies min paid up cap exceeds 50 lacs or T.O exceeds 50 crores as per the case may be.
Anybody clarify further if required!
CAclubindia
