queries to audit

AN Internal auditor cannot act as External auditor of subsidiary company since he is disqualified to be the auditor of Holding Company(Refer Sec 226 of Cos Act)

This provision in kept so that the indepence for expressin ghte opinin on financials of the company is maintained. Also as per international rules it is not possible for internal auditor to act as external statutory auditor.

An internal auditor is disqualified to be appointed as an auditor of holding company and consequently he is disqualified to be appointed as an auditor of its subsidiary also. This has to be read with sec 226 of companies act and professional ethics.

for those of you interested in the field of internal audits either with a sound knowledge on the subject or probably would like to enhance their internal audit skills pls mail or forward your cv to proxy.placers @ gmail.com, mentioning your current ctc and expectant ctc... or if you are looking forward to continuing your articleship, pls mention. - thanks & regards, vidya s.