appointment of internal auditor
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 May 2011
Dear All,
Please through some light on this:
There is one holding company suppose X, regd in Singapore. A & B are its subsidiary regd. in India and Japan respectively.
I am the company secretary in A and our directors are willing to appoint me as the internal auditor of B. Is this move correct or there is some legal consequences for this??
Its bit urgent....
Regards
Pratibha
Please through some light on this:
There is one holding company suppose X, regd in Singapore. A & B are its subsidiary regd. in India and Japan respectively.
I am the company secretary in A and our directors are willing to appoint me as the internal auditor of B. Is this move correct or there is some legal consequences for this??
Its bit urgent....
Regards
Pratibha
18 May 2011
There is no technical guidance on this. But still, there exist no relation between A & B nor in terms of AS-18 Related party transaction neither in terms of Section 299 of CA,1956
therefore, you can be internal auditor of 'B'.
therefore, you can be internal auditor of 'B'.
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 May 2011
Thanxs Saurabh,
It was a gret help.
Pratibha
It was a gret help.
Pratibha
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