when to conduct audit
This query is : Resolved
05 May 2011
Please tell me when it is compulsory to conduct internal and statutory audit ?
tell me the limits above which it is necessary to conduct internal and statutory audit . please provide in detail.
tell me the limits above which it is necessary to conduct internal and statutory audit . please provide in detail.
18 May 2011
Statutory audit compulsory for all companies.
Internal audit or having an internal audit department commensurate with size and nature of business is mandatory as per CARO,2003 para IV. but there are certain limits. Limits
Turnover less than 5 crores for last year
Paid up capital less tahn 50 lakhs as per last audited balance sheet
Internal audit or having an internal audit department commensurate with size and nature of business is mandatory as per CARO,2003 para IV. but there are certain limits. Limits
Turnover less than 5 crores for last year
Paid up capital less tahn 50 lakhs as per last audited balance sheet
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