Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Filing of the returns

Sri Snigdha (Articles Assisstant) (498 Points)

26 October 2023

can an external auditor become statutory auditor for a

Reply
Follow
Share

7 Replies

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 26 October 2023

There is no restriction.Practically we can see only Company Audit(Statutory Audit) and Tax Audit

2 Like

Upgrade to CAclubindia Pro. Subscribe Now!

sabyasachi mukherjee (27274 Points)
Replied 27 October 2023

External auditor means statutory auditor.

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 27 October 2023

Then read the query again along with your answer

sabyasachi mukherjee (27274 Points)
Replied 27 October 2023

There are three types of auditors
1. internal auditor
2. statutory auditor
3. government auditor.

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 27 October 2023

@ Sri Snigdha,

Kindly provide the further details.

Most of the cases except in few specific cases like Co operative societies CA qualification is required to become statutory audit unless additional qualifications are prescribed.

Statutory and external comes under same / similar category. Kindly elaborate the query

3 Like

Upgrade to CAclubindia Pro. Subscribe Now!

sabyasachi mukherjee (27274 Points)
Replied 28 October 2023

Pls study certificate of practice and other allied regulations.

Ashwin Kumar (CA ipcc) (449 Points)
Replied 29 October 2023

For your Kind information an internal auditor appointed under section 138 cannot be appointed as the statutory auditor under section 139. Further there are conditions as to applicability of rotation and wether the auditor is a individual or a firm and several other provisions under Companies audit and auditor's rules. Mr Mukherjee please refresh your knowledge before giving bullsh*t answers. Internal auditor does not necessarily need to be a CA. It can be a CS or CMA or any professionals that BOD determines.