Hi,
I wanna know the exact difference betwwen "Internal Auidt" & "Concurrent Audit"
Also who are eligible for conducting the same. Is it mandatory for an Assessee to appoint a Chartered Accountant for the same?
Please help me out!!!!!!!!!!
1 Replies
CA KiranKumar.K
(FCA)
(902 Points)
Replied 03 February 2012
I can say both are same, but the banking grammar says the word "Internal" as "Concurrent". Both run as the continuous audits within the Organization. I dont see using the word Concurrent to non-banking areas.
I dont see the mandate to have only CA's do these audits, any competent person as referred by the respective legisltation can be appointed to conduct these.
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