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internal audit

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(Querist)
16 July 2009 when the internal audit is require ?
if there is any limit for internal audit ?
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CA Vishvesh

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CA Vishvesh (Expert)
18 July 2009 INTERNAL AUDIT APPLICABILITY-
1 Paidup Capital + Reserve exceeding 50 lakhs @ commemcement of the year
2 Turnover Limit- 5 crore for 3 consecutive year immediately preceeing the accounting year.

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