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Private companies are not required to appoint i...

Private companies are not required to appoint internal auditor. Is this statement correct?

Private companies are not required to appoint internal auditor. Is this statement correct?

0
Jeeba Aug. 17, 2018

No

Section 138 of the Companies Act states that every private company requires to appoint an internal auditor whose turnover is Rs. 200 crore or more during the preceding financial year; or outstanding loans or borrowings from banks or public financial institutions is 100 crore or more at any point of time during the preceding financial year.

Private companies are not required to appoint internal auditor. Is this statement correct?

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