Internal Auditor

Assuming that "shareholder of the company which he audits."

Sec 226(3) - A body corporate, an officer or employee in the auditee company, any partner or employee of an officer or employee in the auditee co., any person who is indebted to the auditee co. In excess of Rs.1,000/-, any person holding any security that carry voting rights.

There is no bifurcation between statutory and internal auditor in the section. Thus the provisions are equally applicable for the internal auditor.

regards,

No an internal auditor cannot be an shareholder in a company