Protection to CA working as Internal Auditor

I wish to ask about the protection to a Chartered Accountant who is working as an Internal Auditor in some company.

Being the employee of that company, he is bound by all rules & regulations of the company. Further, there could be some restriction on the Role of CA as an Internal Auditor in the company. Sometimes, it may happen that company may overlook the recommendations / suggestions given by the internal auditor; just as to implement the company's policies. Further the Management may restrict the internal audit department to express any different views. This may hamper his independence and lesson protection available to him in case of any misfortune. (for ex. in recent case of Satyam, the role of internal auditor is also suspected by other people)

Then How can a CA who is an Internal Auditor, protect himself under all other laws while working for a particular company?
 

Views of all members are welcomed.

Replies (2)

According to me reports which are given by internal auditors are less faithful then the reports given by the statutory auditors and the reason is same as u mentioned that there is no independence in case of internal auditor......and in my view for this Auditors need to maintain there standards.....they can be a bit strict....but according to me ICAI should give some authorities to CA's as well so that if client is creating some problems and not allowing them to perform the duty then they can take steps for that.

Senior members of ICAI, please guide us in this regard. ICAI has not given any guidelines or protections to CAs who are working as Internal Auditor of a Company. How do they work in this environment which would not lower dignity of CA profession?

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