Hi Friends,
When does Internal Audit become compulsory and how does one proceed for the same as an internal auditor? Please forward the reply for the same as I have to perform an Internal audit.
abhishek
(CA FINAL)
(274 Points)
Replied 18 December 2008
whether internal Audit is compulsory or not is decided on the basis of the turnover of the company as specified in CARO 2003 .You have mentioned that you are going to conduct an internal audit,in order to suggest you how to proceed about it , you should specify ,whose internal audit are you going to conduct.
Regards,
Abhishek
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)
CAclubindia
