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Dec 18, 2022 · Learn about the criteria, scope, qualification, appointment and types of internal audit for different types of companies under the Indian law. Find out the penalty for non-compliance with the internal audit provisions and the FAQs related to internal audit.
Nov 10, 2023 · Learn about the internal audit requirements and responsibilities for different types of companies under Section 138 of Companies Act 2013. Find out the thresholds, rules, and penalties for non-compliance with internal audit.
Jun 26, 2024 · This article explores internal audit applicability under the Companies Act, 2013: important provisions, scope, qualifications of internal auditors, appointment procedure, types of internal audits and penalties for non compliance.
Nov 29, 2023 · Learn about the applicability, scope and procedure of internal audit for companies under the Companies Act 2013. Find out who can perform internal audit, what are the thresholds and criteria, and how to draft a resolution for appointment of internal auditor.
Through the audit committee, the internal audit function is accountable to the board for maintaining ongoing, constructive relationships and for regular reporting of assurance related issues.
100 Series: Standards on Key Concepts. Standard on Internal Audit (SIA) 110, Nature of Assurance. Standard on Internal Audit (SIA) 120, Internal Controls. Standard on Internal Audit (SIA) 130, Risk Management. Standard on Internal Audit (SIA) 140, Governance. Standard on Internal Audit (SIA) 150, Compliance with Laws and Regulations.
Oct 21, 2023 · Understanding the Basics. Companies in India are required to appoint internal auditors based on specific financial parameters. For listed companies, the obligation is clear. However, for unlisted public companies, the criteria include: Paid-up Share Capital: ₹50 crore or more OR. Turnover: ₹200 crore or more OR.
