Internal AuditGet Started
What are the applicability criteria for Internal audit ?
1.All listed companies
2.All public companies who full fill the following condition.
a) All Public companies whose turnover in last preceding F.Y 200cr or more.
b)All Public companies whose Paid-up share capital is more than 50cr or more.
c)All Public companies whose O/s loan from bank and financial institution at any time during preceding F.y is more than 100cr or more.
d)All Public companies whose O/s deposited at any time during last preceding year is more than 25cr or more.
3.All Pvt. companies who full fill the following condition.
a)All Pvt.ltd companies whose turnover in last preceding F.y is 200cr or more.
b)All Pvt.ltd companies whose O/s loan from bank and Public financial institution is 100cr or more in last preceding f.y
Internal Audit can be conducted by the Qualified Chartered accountant(whether practice or not) Cost accountant or any other professional as may be appointed by the Board in this regard.
Internal auditor May or may not be an employee of the company.
Documents Required For Internal Audit
- Expenses policy of the organisation
- Original Invoice
- Challan of Gst and Tds
- Challan of PF/ESI as proof of payment of salary etc
- Purchase register/attendance record etc.