What is the difference between internal auditor and statutory auditor.How many companies are there which have to appoint internal auditor.
2 Replies
Subramanya
(in practice)
(109 Points)
Replied 02 January 2012
Hi Shyam,
There is no rule for a company to undergo internal audit.
It ll b conducted on there own interest...
Generally this ll b carried out for those co.s which has more no. of branches and the head office wants to kno the performance of its branches...
Keval Ponkiya
(CA CS MBA(Fin.) M.Com. L.L.B.)
(223 Points)
Replied 03 January 2012
boys !!! going on a wrong track !!! "There is no rule for a company to undergo internal audit."
all listed companies and/or public co having paid up capital more than 5cr, have to appoint internal
auditor, its on behalf of management of co.
and statutory auditor is to give an independent opinion about the financial results.
my dear friends you are going to become CAs in future so I suggest you should know the things perfection and perfection come from the revision only and that must be needed in CA field.
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